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Latest Articles
What Are Refundable Tax Credits?
The cost of refundable tax credits has grown over the past several years, with the number and budgetary impact of the credits increasing.
Three Reasons Why Assuming Sustained 3% Growth is a Budget Gimmick
Lawmakers are reportedly counting on 3 percent economic growth for the next decade. Here are three key reasons why that is an irresponsible budget gimmick.
What Is the Primary Deficit?
The primary deficit is the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.
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What Are Refundable Tax Credits?
The cost of refundable tax credits has grown over the past several years, with the number and budgetary impact of the credits increasing.
Chart Pack: Individual Taxes
A selection of key charts on individual income taxes in the United States and how they fit within the federal budget.
Eight of the Largest Tax Breaks Explained
Tax breaks totaled over $1.9 trillion in 2024. That’s more than the government spends on Social Security, defense, or Medicare and Medicaid.
7 Key Charts on Tax Breaks
The United States lost an estimated $1.9 trillion in revenues through tax expenditures in 2024.
Budget Basics: Tax Expenditures
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
The U.S. Forgoes Hundreds of Billions of Dollars Each Year Due to Unpaid 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.
The Next Fiscal Cliff: Big Tax Decisions to Make in 2025
Some TCJA provisions were made temporary to limit the negative fiscal impact of the 2017 bill. It sets up a significant decision point for policymakers next year.