House Tax Bill Adds $1.7 Trillion to Deficits When You Include Interest
The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
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The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
Public schools for students in kindergarten through 12th grade are financed through a combination of local, state, and federal dollars in proportions that vary across and within states.
https://www.pgpf.org/budget-basics/how-is-k-12-education-funded
There are a number of key fiscal issues not only facing the current Congress in coming weeks, but also awaiting the new Congress.
The report focuses on the fiscal conditions in six heavily populated states which together account for a third of the nation's population and almost 40 cents of every dollar in spending by state and local governments.
https://www.pgpf.org/analysis/state-budget-crisis-task-force
Significant damage was done to America’s fiscal outlook over the past year.
Most federal revenues come from individual income and payroll taxes
Unlike during other recessions, revenues from the capital gains tax have remained relatively steady throughout the COVID-19 pandemic.
https://www.pgpf.org/chart-archive/0317_capital_gains_revenues
“Lawmakers should absolutely take a second look at tax policy, not to extend the irresponsibility, but to implement reforms that actually improve our fiscal situation," said Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation.
High income individuals receive a greater portion of their income from capital gains
https://www.pgpf.org/chart-archive/0316_capital_gains_income_group
Our most popular charts from 2016 illustrate the nation's fiscal challenges in areas like defense spending, healthcare, and tax reform.
https://www.pgpf.org/blog/2016/12/top-7-fiscal-charts-from-2016