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The Federal Government Has Borrowed Trillions. Who Owns All that Debt?
Most federal debt is owed to domestic holders, but foreign ownership is much higher now than it was about 50 years ago.
The United States Collects Less Tax Revenue Than Other G7 Countries
The U.S. collects less tax revenues compared with other G7 countries, and that lower level of revenues is a key driver of the national debt.
National Debt Projected to Hit 175% GDP; Interest Totals $99 Trillion
Compared with the previous 30-year projections, spending will be higher, revenues lower, interest rates and interest payments elevated, and the national debt significantly larger.
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May 21, 2026
What Is a Value-Added Tax and Should the United States Have One?
A value-added tax (VAT) is a type of general consumption tax that is levied on the value added to a good or service at each stage of production and distribution. Almost all developed economies have a value-added or similar consumption tax – but the United States does not. Proponents of a VAT argue that it…
May 15, 2026
A Gas Tax Holiday Costs Billions, But Consumers See Only Marginal Savings
If the full savings from the gas tax holiday were passed on to consumers, the average licensed driver would only save approximately $8.90 per month.
May 4, 2026
Budget Basics: What Is the Earned Income Tax Credit?
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty.
Apr 14, 2026
What Is Stepped-Up Basis on Capital Gains and How Does It Affect the Federal Budget?
The step-up in basis is a provision in tax law that relates to how assets — such as stocks, bonds, or real estate — are valued and taxed after their owner passes away.
Apr 7, 2026
How Does the Capital Gains Tax Work, and What Are Some Proposed Reforms?
While the capital gains tax affects anyone selling a capital asset, higher-income individuals are typically subject to the tax more so than average Americans.
Apr 6, 2026
What Is the SALT Cap?
The deduction of state and local tax payments from federal income taxes has been a subject of debate among economists and policymakers over the past few years — with significant implications for our budget and fiscal outlook.
Apr 2, 2026
Infographic: How the U.S. Tax System Works
One issue that most lawmakers and voters agree on is that our tax system needs reform.