TRENDS IN REVENUES · Estate and Customs Gift Taxes Duties 41 41 23 Federal Reserve Remittances...
Transcript of TRENDS IN REVENUES · Estate and Customs Gift Taxes Duties 41 41 23 Federal Reserve Remittances...
0 200 400 600 800 1,000 1,200 1,400 1,600
IndividualIncome Taxes
Payroll Taxes
$1,684
$1,171
CorporateIncome Taxes
$205
Other
$271
OtherHospital InsuranceOld-Age, Survivors, and Disability Insurance
855 261 55
Miscellaneous Fees and Fines
Estate andGift TaxesCustoms
Duties
41 41 23
FederalReserveRemittances
Excise Taxes
95 71
Billions of DollarsREVENUES IN 2018
Percentage of Gross Domestic Product
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TRENDS IN REVENUES
Individual Income Taxes
Payroll Taxes
Corporate Income Taxes
Other
0
2
4
6
8
10
12
1998 2002 2006 2010 2014 2018
Economic Growth and Tax Relief Reconciliation Act of 2001
Jobs and Growth Tax ReliefReconciliation Act of 2003
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010
American TaxpayerRelief Act of 2012
2017 Tax Act
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Revenues received by the federal government
in 2018
$3.3Trillion
Receipts fromindividual income taxes,
the largest sourceof revenues, in 2018
Revenues as apercentage of GDP in 2018
Average revenues as a percentage of GDP
between 1998 and 2017
$1.7Trillion 16.5%17.1%
Prepared by Leigh Angres and Jorge SalazarSource: Congressional Budget O�ce, June 2019
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.
THE FEDERAL BUDGETIN 2018
Funds collected from the public that arise from the government’s exercise of its sovereign powers
A CLOSERLOOK ATREVENUES
FISCAL
YEA
R 2
018
OUTLAYS, $4.1 TRILLION
Mandatory $2.5 T
Discretionary $1.3 T
NetInterest $0.3 T
REVENUES, $3.3 TRILLION