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The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
A key assessment of poverty in America is the Official Poverty Measure (OPM), which is calculated by the United States Census Bureau using a range of income and economic data.
The United States spent $631 billion on national defense during fiscal year (FY) 2018 according to the Office of Management and Budget, which amounts to 15 percent of the federal budget.
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
While there has been positive news about recent wage growth, looking back over the last 40 years reveals a different story for the average worker.
While growth in 2019 has exceeded expectations so far, growth rates largely have conformed to forecasts, and many economists expect growth to remain lower in 2019 than in 2018.
Americans and the economy are vulnerable to a series of high-stakes fiscal deadlines, with an uncertain path forward.
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.