TheFEDERALBUDGET IN 2013 A Closer Look at Revenues

Funds collected from the public that arise from the government’s exercise of its sovereign powers

All data are for federal fiscal years,which run from October 1 to September 30.

Numbers may not add up to totals because of rounding.

REVENUES, $2.8 Tri l l ion

SPENDING, $3.5 Tri l l ion

Mandator y$2.0 Tr i l l ion

Discret ionar y$1.2 Tr i l l ion

Net Interest$0.2 Tr i l l ionF

ISC

AL

YE

AR

20

13

Individual Income Taxes

Corporate Income Taxes

Social Insurance(Payroll) Taxes

Other

0 200 400 600 800 1,000 1,200 1,400

IndividualIncome Taxes$1,316 Billion

Social Insurance(Payroll) Taxes

$948 Billion

CorporateIncome Taxes

$274 Billion

Other$237 Billion

Old-Age, Survivors, and Disability Insurance

Excise Taxes

FederalReserveEarnings

Miscellaneous Fees and Fines

CustomsDuties

Hospital Insurance Other

$673 $209 $66

Estate and Gift Taxes

$84 $76 $32$19

$27

Prepared by Maureen Costantino and Jonathan Schwabish

Source: Congressional Budget Office, April 2014

Contact: CBO Tax Analysis Division

For more details, see CBO’s Updated Budget Projections: 2014 to 2024

(April 2014), http://go.usa.gov/k2TA.

Trends in RevenuesPercentage of gross domestic product

Revenues in 2013Billions of dollars

0

2

4

6

8

10

1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013

Omnibus Budget Reconciliation Act of 1993

Taxpayer ReliefAct of 1997

Economic Growth and Tax ReliefReconciliation Actof 2001

Jobs and Growth Tax ReliefReconciliation Act of 2003

Tax Relief,Unemployment Insurance Reauthorization, and Job Creation Act of 2010

American Taxpayer Relief Act of 2012

Recession Recession

Revenues at a Glance

Revenues received bythe federal government

in 2013

$2.8 TrillionReceipts in 2013 from

individual income taxes, the largest source

of revenues

$1.3 TrillionRevenues as a

percentage of gross domestic product in 2013

Average revenues as a percentage of gross

domestic product between 1993 and 2012

16.7% 17.2%