IRS Staffing Cuts Will Reduce Revenues, Driving Deficits Higher
Reductions in IRS personnel decrease federal revenues, increase deficits, and significantly exacerbate the gap between taxes that are owed and taxes that are actually paid.
Read MoreWhat Is a Value-Added Tax and Should the United States Have One?
Almost all developed economies have a value-added or similar consumption tax — but the United States does not.
Read MoreA 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.
Read MoreChart Pack: The U.S. Budget
A selection of key charts that give an overview of the major components in the U.S. federal budget.
Read MoreThe United States Spends More on Defense than the Next 6 Countries Combined
Defense spending by the United States accounted for 33 percent of military expenditures by countries around the world.
Read MoreBudget 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.
Read MoreHow Much Does the Government Spend on International Affairs?
Federal spending for international affairs, which supports American diplomacy and development aid, is a small portion of the U.S. budget.
Read MoreWhat Is Inflation and Why Does It Matter?
Here’s an overview of inflation, why it matters, and how it’s managed.
Read More5 Key Facts About Rising Healthcare Spending in the United States
Healthcare spending in the United States is a key driver of the nation’s fiscal imbalance and has risen notably over the past few decades.
Read MoreThe Highway Trust Fund Explained
The funding structure of the Highway Trust Fund requires serious, long-term changes, but how to approach reform remains a topic of debate.
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