Cracking down on the tax gap would not only introduce more fairness into the system, but it could be a big help for our nation’s fiscal imbalance — to the tune of hundreds of billions of dollars every year.
America’s small businesses have been severely impacted by the economic downturn caused by the pandemic — and lawmakers have focused a significant part of federal relief on helping this critical part of our economy.
Since April 2020, the federal government has spent an average of $9 billion per month on SNAP — 71 percent higher than the amount spent in March 2020 (before the pandemic was widely recognized).
The decline in purchasing power has important implications for the federal budget and our nation’s infrastructure, and has led some to call for a new effort to address the gas tax.
The coronavirus pandemic has caused a severe public health crisis as well as substantial economic disruption for every American. So far, lawmakers have enacted five separate pieces of legislation.
Three sets of stimulus checks have been issued to eligible recipients as part of the pandemic relief. Each set of payments have been slightly different.
Setting a higher minimum wage would affect family incomes in a variety of ways, including increasing earnings for most low-wage workers and lifting some families out of poverty.
The primary deficit focuses on the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.
