Taxes
- Graphic
Revenues in Fiscal Year 2023: An Infographic
Revenues received by the federal government in 2023 totaled $4.4 trillion, of which half was receipts from individual income taxes.
- Graphic
The Federal Budget in Fiscal Year 2023: An Infographic
The federal deficit in 2023 was $1.7 trillion, equal to 6.3 percent of gross domestic product.
- Report
How Changes in Funding for the IRS Affect Revenues
CBO describes how funding for the IRS affects CBO’s revenue projections and how CBO estimates the revenue effects of rescissions of such funding. CBO also estimates the budgetary effects of rescinding varying amounts of the IRS’s funding.
- Interactive
How Changes in Revenues and Outlays Would Affect Debt-Service Costs, Deficits, and Debt
This interactive workbook allows users to see how revenues and outlays that differed from those in CBO’s February 2024 baseline budget projections would increase or decrease net interest costs and thus affect deficits and debt.
- Blog Post
Presentations on CBO’s New Projections
CBO's Director, Phillip Swagel, discusses his most recent and upcoming presentations about the projections in CBO’s report, "The Budget and Economic Outlook: 2024 to 2034."
- Report
Testimony on The Budget and Economic Outlook: 2024 to 2034
CBO’s Director, Phillip Swagel, testifies before the House Budget Committee.
- Blog Post
Director’s Statement on the Budget and Economic Outlook for 2024 to 2034
CBO’s Director, Phillip Swagel, discusses the current budget and economic outlook.
- Presentation
The Budget and Economic Outlook for 2024 to 2034: Press Briefing Slides
CBO’s Director, Phillip Swagel, briefs members of the press on the current budget and economic outlook.
- Report
The Budget and Economic Outlook: 2024 to 2034
In CBO’s projections, federal budget deficits total $20 trillion over the 2025–2034 period and federal debt held by the public reaches 116 percent of GDP. Economic growth slows to 1.5 percent in 2024 and then continues at a moderate pace.
- Cost Estimate
H.R. 1432, VETT Act
As reported by the House Committee on Ways and Means on
January 18, 2024