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The rising cost of prescription drugs is a key driver of overall healthcare spending in the U.S. This trend has significant implications not only for Americans who rely on medications, but also for our nation’s budget and fiscal outlook.
As more time passes since enactment, and as more data become available, economists continue to weigh in with analyses of the TCJA’s effects.
Corporate tax revenues are substantially lower than they were before the tax rate was reduced by the TCJA.
Following the 2017 tax reform, the federal statutory corporate tax rate in the United States is now more in line with many other OECD countries.
Revenue from corporate income taxes has been decreasing as a share of GDP
The top 1 percent of taxpayers generate 26 percent of individual income tax revenues.
Spending on federal entitlement programs will more than double between 1984 and 2049.
Medical spending increases rapidly with age.
Federal taxes and transfers can help reduce disparities in income.