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.
Read MoreWhat 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.
Read MoreWhat Are Automatic Stabilizers and How Do They Affect the Federal Budget?
To better respond to business cycle fluctuations, many important programs in the federal budget automatically adjust spending based on economic conditions.
Read MoreChart Pack: Individual Taxes
A selection of key charts on individual income taxes in the United States and how they fit within the federal budget.
Read MoreEight 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.
Read More7 Key Charts on Tax Breaks
The United States lost an estimated $1.9 trillion in revenues through tax expenditures in 2024.
Read MoreLawmakers are Running Out of Time to Fix Social Security
Without reform, the combined Social Security trust funds will be depleted in 2035.
Read MoreBudget Basics: Tax Expenditures
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
Read MoreThe 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.
Read MoreNew CBO Projections Show Lower Short-Term Rates than Previously Expected — but Longer-Term Rates Will Rise
Understanding interest rate trends is critical to the nation’s fiscal outlook because they are a significant factor for interest costs within the budget.
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