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One issue that most lawmakers and voters agree on is that our tax system needs reform.
The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
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.
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
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.
Improving our healthcare system to deliver better quality care at lower cost is critically important to our nation’s long-term economic and fiscal well-being.
This budget explainer describes what Medicaid is, how it is financed, and who benefits from it.