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Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
Here are the top ten spending categories for the federal budget.
The United States spent $725 billion on national defense during fiscal year (FY) 2020 according to the Office of Management and Budget, which amounts to 11 percent of federal spending.
Presently, revenues raised by the corporate income tax represent the third-largest category of federal tax revenue in the United States, trailing those generated from the individual income and payroll taxes.
Here’s an overview of inflation, why it matters, and how it’s managed.
The child tax credit (CTC) is a measure administered though the tax code that is designed to make raising children more affordable by easing the financial burden faced by families.
Medicaid’s role in state budgets is unique, since the program acts as both an expenditure and the largest source of federal support in state budgets.
This budget explainer describes what Medicaid is, how it is financed, and who benefits from it.
Although the need for serious, long-term changes to the funding structure of the Highway Trust Fund is clear, there is disagreement over the approach to do so.