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Voters' Fiscal Guide 2020
With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
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With the national debt at $26 trillion and counting, the nation’s fiscal health is a key issue for the 2020 campaign.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the latest data for Fiscal Year 2024, charted out monthly and on a year-over-year basis.
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
Tax expenditures are costly for the federal government but they can be effective vehicles for lawmakers to achieve policy goals.
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
Take our quiz to see how much you really know about how revenues are collected and federal funds are spent.
https://www.pgpf.org/quiz/how-much-do-you-know-about-the-federal-budget
In 2017, Congress and the President enacted the Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations.
https://www.pgpf.org/blog/2024/03/the-next-fiscal-cliff-big-tax-decisions-to-make-in-2025
A panel of experts discussed the potential for a well-designed carbon tax to play a role in putting our nation on a more sustainable fiscal path.
The current budget process is ill-suited for managing the nation’s long-term fiscal affairs. Learn about possible reforms to reimagine the budget process.
https://www.pgpf.org/finding-solutions/budget-process-reforms
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty.
https://www.pgpf.org/budget-basics/what-is-the-earned-income-tax-credit