Tax Policy Center

Fiscal Facts

E.g., 06/16/2024
E.g., 06/16/2024
Different tax revenues are gathered at different levels of government. For example, most property taxes are collected at the local level (96%) while most sales and gross taxes are collected at the state level (78%) and most individual taxes are collected
State governments and local governments rely upon a different mix of taxes for their revenues. In FY 2019, states relied more on sales taxes and individual income taxes, whereas localities mostly relied upon property taxes.

May 2, 2022

May 2, 2022
Per the US Census Bureau, state and local governments collected $28.9 billion from net lottery revenue in FY 2019. Six states did not have state lotteries; among those that did, revenue per capita ranged from Wyoming's $18 to Rhode Island's $387.
Per the US Census Bureau, state and local governments collected $28.9 billion from net lottery revenue in FY 2019. Six states did not have state lotteries; among those that did, revenue per capita ranged from Wyoming's $18 to Rhode Island's $387.

April 25, 2022

April 25, 2022
Corporate income tax revenues comprised 9% of total federal revenues in FY 2021, compared with over 50% from individual income tax revenues. Corporate income tax revenues last exceeded individual income tax revenues in 1943, during World War II.
Corporate income tax revenues constituted 9% of total federal revenues in FY 2021, compared with over 50% from individual income tax revenues. Corporate income tax revenues last exceeded individual income tax revenues in 1943, during World War II.

April 18, 2022

April 18, 2022
Local governments have become more reliant on sales and gross tax receipt taxes over time. Sales taxes comprised 7% of total local general revenue in 2019, up from 5% in 1977.
Local governments have become more reliant on general sales taxes and gross receipts taxes over time. These taxes comprised 7.4% of total local general revenue in 2019, up from 4.6% in 1977.

April 11, 2022

April 11, 2022
Federal excise tax receipts from tobacco products totaled $12.4 billion in 2020. In inflation-adjusted terms, tobacco excise tax receipts are at roughly the same level as in the 1940s.
Federal excise tax receipts from tobacco products totaled $12.4 billion in 2020. In inflation-adjusted terms, tobacco excise tax receipts are at roughly the same level as in the 1940s.

April 4, 2022

April 4, 2022
In 2020, among all OECD countries, share of total tax revenue from taxes on goods and services ranged from 17% in the U.S. to 55% in Chile. The U.S. does not have a federal value-added tax, unlike most OECD countries.
In 2020, among all OECD countries, share of total tax revenue from taxes on goods and services ranged from 17% in the U.S. to 55% in Chile. The U.S. does not have a federal value-added tax, unlike most OECD countries.

March 28, 2022

March 28, 2022
Between 1979 and 2018, the share of aggregate after-tax income of the top 1% of households grew significantly from 7.4% to 13.6%. In contrast, the shares for the bottom 90 percent of households declined.
Between 1979 and 2018, the share of aggregate after-tax income of the top 1% of households grew significantly from 7.4% to 13.6%. In contrast, the shares for the bottom 90 percent of households declined.

March 21, 2022

March 21, 2022
The tax code includes some credits, deductions, and exclusions for natural resources and the environment. Per the Treasury's estimates, these tax expenditures cost the federal government $1.9 billion in revenue in fiscal year 2021.
The tax code includes several credits, deductions, and exclusions pertaining to natural resources and the environment. Per the Treasury, costs of these provisions sum to $1.9 billion in FY 2021, though combined revenue losses may differ due to interactions.

March 14, 2022

March 14, 2022
In fiscal year 2019, state and local governments raised $577 billion in property taxes. As a share of general revenue, New Hampshire relied the most on property tax revenue (36%) whereas Alabama and New Mexico relied the least (7%).
In fiscal year 2019, state and local governments raised $577 billion in property taxes. As a share of general revenue, New Hampshire relied the most on property tax revenue (36%) whereas Alabama and New Mexico relied the least (7%).

March 7, 2022

March 7, 2022
In 2020, the United States gathered over $1 trillion in tax revenue. Of that amount, $59 billion comes from licenses revenue.
In fiscal year 2020, state governments across the United States raised $59 billion, or about 6% of total state-level tax revenue, from license taxes. Most of this revenue was from motor vehicle licenses and occupational and business licenses.

February 28, 2022

February 28, 2022
The federal government's Social Security spending totaled $1.09 trillion in 2020, or 5.2% of GDP. Fifty years back, Social Security spending was about 2.3% of GDP.
The federal government's Social Security spending totaled $1 trillion in 2020, or 5% of GDP. Sixty years ago, Social Security spending was about 2.3% of GDP.

February 21, 2022

February 21, 2022
28 states and DC have state-level earned income tax credits. In tax year 2022, state refundable credits ranged from 3% of the federal EITC in Montana to 70% in DC.
28 states and DC have state-level earned income tax credits. In tax year 2022, state refundable credits range from 3% of the federal EITC in Montana to 70% in DC.

February 14, 2022

February 14, 2022
The share of filers who checked the box for the Presidential Election Campaign Fund on their tax returns has decreased significantly over time. In 2021, the share was the lowest it has ever been, at 3.3 percent; comparatively, in 1976, this share was abou
By checking a box, tax filers can direct $3 to the Presidential Election Campaign fund at no cost to themselves. The share of tax filers checking the box has declined from 28 percent in 1976 to 3 percent in 2021.

February 7, 2022

February 7, 2022
In 2018, income from partnerships and S corporations, a form of "pass-through" income, totaled 25% of total AGI for those with AGI over $1 million, compared to 1% for those with AGI under $100,000.
In 2019, income from partnerships and S corporations, a form of "pass-through" income, totaled 25% of total AGI for those with AGI over $1 million, compared to 1% for those with AGI under $100,000.

January 31, 2022

January 31, 2022
The federal Oil Spill Liability Trust Fund is funded by an excise tax of $0.09 per barrel of crude oil. In 2020, the trust fund collected $412 million in revenue.
The federal Oil Spill Liability Trust Fund is funded by an excise tax of $0.09 per barrel of crude oil. In 2020, the trust fund collected $412 million in revenue.

January 17, 2022

January 17, 2022