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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.
https://www.pgpf.org/budget-basics/what-is-the-child-tax-credit
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the latest data for Fiscal Year 2020, charted out monthly and on a year-over-year basis.
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty. It was first enacted in 1975 on a temporary basis amid broader debates about welfare reform and had the primary goal of encouraging people to obtain employment.
https://www.pgpf.org/budget-basics/what-is-the-earned-income-tax-credit
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.
https://www.pgpf.org/budget-basics/budget-explainer-payroll-taxes
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.
The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts because they focus on one type of tax in isolation rather than the various taxes that people face in aggregate.
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.
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.
https://www.pgpf.org/blog/2021/03/what-to-know-about-all-three-rounds-of-coronavirus-stimulus-checks
Most federal revenues come from individual income and payroll taxes
As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries.