Budget Basics: What Is The Fiscal Cliff?
The January 2013 fiscal cliff involves several components of tax cuts and spending provisions.
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The January 2013 fiscal cliff involves several components of tax cuts and spending provisions.
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Contact: Sarah Stipicevic, Press Secretary
(212) 542-9265 sstipicevic@pgpf.org
The September 2013 Fiscal Confidence Index, Modeled after the Consumer Confidence Index, is 43 (100 is Neutral); Tenth Straight Month of Strongly Negative Public Sentiment
The top 20 percent of income earners receive over half the value of major tax expenditures.
https://www.pgpf.org/Chart-Archive/0199_distribution_tax_expenditures
As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries.
Following the 2017 tax reform, the federal statutory corporate tax rate in the United States is now more in line with many other OECD countries.
https://www.pgpf.org/chart-archive/0273_statutory_corporate_income_tax_rates
Eight popular tax provisions accounted for a large majority of annual tax expenditures.
https://www.pgpf.org/chart-archive/0009_largest-tax-expenditures
The top 1 percent of taxpayers generate 30 percent of individual income tax revenues.
The top 1 percent of taxpayers receive 19 percent of the benefit from individual income tax expenditures.