Major Tax Expenditures
Eight popular tax provisions accounted for a large majority of annual tax expenditures.
https://www.pgpf.org/chart-archive/0009_largest-tax-expenditures
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Eight popular tax provisions accounted for a large majority of annual tax expenditures.
https://www.pgpf.org/chart-archive/0009_largest-tax-expenditures
The top 1 percent of taxpayers receive 19 percent of the benefit from individual income tax expenditures.
Medicare spending is projected to rise rapidly.
https://www.pgpf.org/chart-archive/0276_medicare_spending_long-term
The growing debt is caused by a structural mismatch between spending and revenues.
SNAP spending sharply increased in response to the COVID-19 pandemic, but is projected to decline below historical levels over the next decade.
Mandatory programs and interest costs will take over more of the federal budget, squeezing discretionary programs.
https://www.pgpf.org/chart-archive/0156_mandatory_discretionary_pies
The federal government is slated to borrow about $1.5 trillion this year, and that number is projected to nearly double over the next decade.
The United States spends more on defense than the next 9 countries combined.
Corporate and individual tax expenditures are large in comparison to annual taxes collected, as well as to the government’s major programs.
https://www.pgpf.org/chart-archive/0054_tax-expenditures-comparison