Contributions by individuals or corporations can take the form of cash, financial assets, or other noncash property such as real estate, clothing, or artwork. Some contributions face greater ...

Model Estimate T25-0051 – Characteristics of Alternative Minimum Tax (AMT) Payers in 2024-26, and 2035 Model Estimate T25-0050 – Aggregate Alternative Minimum Tax (AMT) Projections and Recent History, ...

Lists of the largest tax expenditures compiled from the JCT and Treasury estimates include most the same items, but there are differences in how provisions are scored between the two agencies that ...

The United States imposes a tax on the profits of US resident corporations at a rate of 21 percent (reduced from 35 percent by the 2017 Tax Cuts and Jobs Act). The corporate income tax raised $424.7 ...

The tax expenditure budget displays the estimated revenue losses from special exclusions, exemptions, deductions, credits, deferrals, and preferential tax rates in federal income tax law.

Economic activity reflects a balance between what people, businesses, and governments want to buy and what they want to sell. In the short run—focusing on the next one or two years—economic policy ...

Because lower-income households spend a greater share of their income than higher-income households do, the burden of a retail sales tax is regressive when measured as a share of current income: the ...

Total US tax revenue equaled 27 percent of gross domestic product, well below the 34 percent weighted average for the other 37 OECD countries. US taxes are low relative to those in other high-income ...

Corporate Tax Revenues The United States raises less revenue from all corporate income taxes as a share of GDP than all other countries in the G7 and almost all other countries in the OECD (figure 2).

But cuts can and do pay for themselves in part. If a 10 percent reduction in a tax rate yields a 3 percent increase in taxable income, for example, revenues fall by only 7 percent. Taxpayer responses ...

A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US ...

Workers, owners of capital, and households that consume a disproportionate amount of taxed items all bear the burden of federal excise taxes.