Corporate tax receipts dropped by 31 percent in 2018 — an unprecedented decline during a time of economic growth. The Tax Cuts and Jobs Act is responsible for the plunge.
Other than during the recent recession caused by the financial crisis and its aftermath, the U.S. government has never witnessed deficits that exceeded $1 trillion.
SNAP is the largest federal program aimed at combating hunger and food insecurity among low-income Americans.
Income levels for Americans vary across geography, race, and gender.
Child poverty reduced the size of the U.S. economy by an estimated $1 trillion dollars, or 5.4 percent of gross domestic product, in 2015, according to a new study.
Recent research has found that Social Security is more effective at reducing poverty than previously believed. Without income from Social Security, two thirds of the elderly would be considered poor.
Capital gains are taxed at a lower marginal rate than ordinary income, but the value of that sale is not currently adjusted for inflation.
Many Americans, young and old, may be confused by the complex set of issues that comprise how the government raises revenues and allocates them.
The rising costs of prescription drugs and their effect on Medicare could have serious consequences on our healthcare system and our nation’s long-term fiscal well-being.
As summer turns to fall, members of the United States House of Representatives and Senate return to Washington D.C. to face a number of important policy decisions and deadlines.