Over the past 40 years, federal revenues have ranged from nearly 21 percent of GDP, in fiscal year 2000, to less than 16 percent, in fiscal years 2009 through 2012; they have averaged about 18 percent of GDP over the four decades. In addition to projecting the future course of federal revenues, CBO analyzes the budgetary and economic effects of various features of the federal tax system and the effects of potential changes to current tax rules.
Dec 2013 - Households in the top quintile (including the top percentile) paid 68.8 percent of all federal taxes, households in the middle quintile paid 9.1 percent, and those in the bottom quintile paid 0.4 percent.
Nov 2013 - CBO analyzes the distribution of most federal spending—including transfers like Social Security benefits—and almost all federal revenues among U.S. households in 2006. Results are provided by type of household and by income group.
Nov 2013 - CBO periodically issues a compendium of options—this installment presents more than 100—to inform lawmakers about the budgetary effects of ways to reduce the deficit.
Sep 2013 - Federal debt would grow to 100 percent of GDP by 2038 under current law, CBO projects, and would be on an upward path relative to the size of the economy—a trend that could not be sustained indefinitely.
May 2013 - In 2013, the benefits of 10 of the largest tax expenditures will equal 11.7 percent of income for households in the lowest income quintile, 9.4 percent for the highest quintile, and under 8 percent for the middle quintiles, CBO estimates.
May 2013 - A carbon tax’s effect on the economy depends on how lawmakers would use revenues generated by the tax. The tax would help reduce U.S. emissions but would have only a modest effect on the Earth’s climate without a worldwide effort.
May 2013 - Enactment of the President’s proposals would, CBO and the staff of the Joint Committee on Taxation estimate, result in deficits totaling $5.2 trillion between 2014 and 2023, $1.1 trillion less than the cumulative deficit in CBO’s baseline.
May 2013 - A robust increase in revenues projected over the next few years will help shrink deficits through 2015. But deficits are projected to rise later in the decade, partly because of pressures of an aging population and rising health care costs.
Feb 2013 - Under current law, federal debt will stay at historically high levels relative to the economy, CBO projects. Economic growth will be slow in 2013 but pick up thereafter. Even so, the unemployment rate will be above 7.5 percent through 2014.
Jan 2013 - The number and cost of refundable tax credits have grown considerably since 1975. Federal costs (in 2013 dollars) peaked at $238 billion in 2008, but costs will fall to $149 billion in 2013, CBO projects, before reaching $213 billion in 2021.
Dec 2012 - Business activity subject to individual rather than corporate income tax has grown, reducing federal revenues but probably promoting investment.
Nov 2012 - Effective marginal tax rates among low- and moderate-income workers are about 30 percent, on average, with about one-third of that rate stemming from the federal income tax, more than a third from federal payroll taxes, and the remainder from state income taxes and the phaseout of SNAP benefits.
- blog postDecember 5, 2013
- reportDecember 5, 2013
- blog postDecember 5, 2013
- reportDecember 4, 2013
- presentationDecember 4, 2013
- presentationDecember 3, 2013
- reportNovember 21, 2013
- reportNovember 13, 2013
Use this menu to filter CBO's publications by topic. From January 2011 forward, all the agency's products are categorized by topic. Cost estimates released prior to the 112th Congress are not categorized by topic.