The statutory tax rate is the percentage imposed by law; the effective tax rate is the percentage of income actually paid by an individual or a company after taking into account tax breaks.
The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
Lawmakers should pursue policies that don’t make our fiscal outlook even worse.
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
Lawmakers unveiled a tax overhaul framework recently, outlining a number of changes to individual and corporate taxes.
There are three concepts that relate to how we measure poverty: the poverty rate, poverty thresholds, and poverty guidelines. Each concept has different uses and is important for different reasons.
Lawmakers have unveiled a tax overhaul framework, outlining a number of changes to individual and corporate taxes.
Debates over the debt ceiling and government shutdowns can be confusing, particularly in years when lawmakers must fund the government and raise the debt limit around the same time.
Even if Congress raises the debt limit and avoids default, last-minute brinksmanship alone has the potential to create economic damage.
There's ongoing discussion in Washington about making changes to Medicaid. Learn more about the program.