Tax Credits
- Report
Federal Aid for Postsecondary Students
In 2017, the government financed roughly $100 billion in student loans and provided about $30 billion in grants and $30 billion in tax preferences. This report examines the impact of such aid and a number of approaches to changing it.
- Presentation
Effective Marginal Tax Rates for Low- and Moderate-Income Workers in 2016
Presentation by Shannon Mok, an analyst in CBO’s Tax Analysis Division, for a panel organized by the Department of Health and Human Services, Office of the Assistant Secretary for Planning and Evaluation, and Institute for Research on Poverty at the University of Wisconsin.
- Report
Federal Mandatory Spending for Means-Tested Programs, 2008 to 2028
Outlays for mandatory means-tested programs would grow over the next decade at an average annual rate of 4 percent, whereas spending for mandatory non–means-tested programs would grow at an average rate of 6 percent, CBO projects.
- Report
The Distribution of Household Income, 2014
In 2014, average household income before accounting for means-tested transfers and federal taxes was $19,000 for the lowest quintile and $281,000 for the highest quintile. After transfers and taxes, those averages were $31,000 and $207,000.
- Report
Answers to Questions for the Record Following a Hearing on Oversight of CBO Conducted by the Senate Committee on the Budget
On January 24, the Senate Budget Committee convened a hearing at which Director Keith Hall testified about CBO’s work in 2017 and its future plans. This document provides CBO’s answers to questions submitted for the record.
- Presentation
Trends in the Distribution of Household Income
Presentation by Kevin Perese, an analyst in CBO's Tax Analysis Division, at the University of Michigan’s 65th Annual Economic Outlook Conference.
- Report
Answers to Questions for the Record Following a Hearing on CBO’s Appropriation Request for Fiscal Year 2018 Conducted by the Subcommittee on the Legislative Branch, Senate Committee on Appropriations
The Senate Appropriations Committee convened a hearing at which Director Keith Hall testified about CBO’s appropriation request for fiscal year 2018. This document provides CBO’s answers to questions submitted for the record.
- Blog Post
How Taxes and Transfers Affect the Work Incentives of People With Low and Moderate Income
Last month, Members of Congress asked CBO a number of questions about how federal taxes and benefits affect people’s incentive to work. This blog post provides additional information on that topic.
- Report
Federal Subsidies for Health Insurance Coverage for People Under Age 65: 2016 to 2026
CBO and the staff of the JCT project that the federal subsidies, taxes, and penalties associated with health insurance coverage for people under age 65 will result in a net subsidy from the federal government of $660 billion in 2016.
- Report
Effective Marginal Tax Rates for Low- and Moderate-Income Workers in 2016
In 2016, low- and moderate-income workers will face an effective marginal tax rate of 31 percent, on average. Federal individual income and payroll taxes will be the main contributors.