The Tax Policy Center regularly produces tables showing the distribution of income and federal taxes, effective and marginal tax rates, and other measures of federal taxes. Other tables show estimates ...

Join the Urban Institute and the Berkeley Opportunity Lab as we examine the evolving conversation about the benefits and long ...

In the aftermath of the One Big Beautiful Bill Act of 2025, federal policymakers can and should turn their focus to the ...

The Tax Cuts and Jobs Act cut taxes substantially from 2018 through 2025. The resulting deficits are adding $1 to $2 trillion to the federal debt, according to official estimates from before and ...

After promising increased tariff rates on the campaign trail, President Trump has expanded tariffs on various countries and goods. TPC continues to track these announcements and will update this page ...

The Tax Cuts and Jobs Act made significant changes to individual income taxes and the estate tax. Almost all these provisions expire after 2025. The Tax Cuts and Jobs Act (TCJA) made substantial ...

The federal government collected revenues of $4.9 trillion in 2022—equal to 19.6 percent of gross domestic product (GDP) (figure 2). Over the past 50 years, federal revenue has averaged 17.4 percent ...

Balanced budget requirements (BBRs) are constitutional or statutory rules that generally prohibit states from spending more than they collect in revenue in a fiscal year. However, these state rules ...

Taxpayers can choose to itemize deductions on their tax returns in lieu of claiming a standard deduction. Prior to 2018, around 30 percent of taxpayers, mostly those with higher incomes, chose to ...

For 2021, the child tax credit provided a credit of up to $3,600 per child under age 6 and $3,000 per child from ages 6 to 17. If the credit exceeded taxes owed, families could receive the excess ...

The Medicare trust fund finances health services for beneficiaries of Medicare, a government insurance program for the elderly, the disabled, and people with qualifying health conditions specified by ...

Fines, fees, and forfeitures are financial penalties imposed for violations of the law. State and local governments collected a combined $13 billion in revenue from fines, fees, and forfeitures in ...