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May 21, 2026
What Is a Value-Added Tax and Should the United States Have One?
A value-added tax (VAT) is a type of general consumption tax that is levied on the value added to a good or service at each stage of production and distribution. Almost all developed economies have a value-added or similar consumption tax – but the United States does not. Proponents of a VAT argue that it…
May 15, 2026
A Gas Tax Holiday Costs Billions, But Consumers See Only Marginal Savings
If the full savings from the gas tax holiday were passed on to consumers, the average licensed driver would only save approximately $8.90 per month.
May 12, 2026
What Are Excise Taxes and How Do They Affect the Federal Budget?
Excise taxes are levied on specific goods or services. The largest excise taxes on the federal level are related to highways, aviation, tobacco, and alcohol.
May 12, 2026
Chart Pack: The U.S. Budget
A selection of key charts that give an overview of the major components in the U.S. federal budget.
May 7, 2026
The United States Spends More on Defense than the Next 6 Countries Combined
Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world.
May 4, 2026
Budget Basics: What Is the Earned Income Tax Credit?
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty.
April 30, 2026
Peterson Foundation Statement on National Debt Surpassing 100% of GDP
“Once again, America has hit an alarming fiscal milestone that highlights our dangerous and unsustainable outlook.”
April 30, 2026
The Fed Held Its Target Range For the Third Meeting in a Row but Interest Costs Remain High
High interest rates on U.S. Treasury securities increase the federal government’s borrowing costs.
April 30, 2026
Growing National Debt and Affordability Are Key Issues for 2026 Election
“The rising national debt has effectively become a kitchen table issue for Americans,” said Michael A. Peterson.