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Total tax burdens are lower in the U.S. than among other advanced nations. 🔗pgpf.org/article/how-th…

$36,214,966,389,282.11 (-) #NationalDebt

Happy #TaxDay! See how your federal tax dollars are spent.

Individual income #taxes account for more than half of the federal government's revenue. 🔗pgpf.org/article/how-th…

Hundreds of billions in #taxes go unpaid every year. Technology modernization could help the IRS collect more revenues that are due — as would simplifying the tax code and increasing funding for enforcement activities. 🔗pgpf.org/article/the-un…

We spent $489 billion in interest on the #NationalDebt during the first sixth months of this fiscal year. 🔗pgpf.org/programs-and-p…

Here are six key principles to help policymakers to improve our tax code in a fiscally responsible way. Learn more: pgpf.org/programs-and-p…

Excluding tips from taxes could: + Reduce federal revenues by about $110 billion over 10 years. If the tax exclusion includes payroll taxes, the budgetary impact would almost double to around $200 billion. + Reduce horizontal equity in the tax system. + Benefit higher-income

$36,214,325,271,235.26 (+) #NationalDebt

Extending the TCJA tax cuts would lead to a near-doubling of the annual deficit relative to GDP. pgpf.org/article/nation…

"The federal government is on an unsustainable fiscal path that poses serious economic, security, and social challenges if not addressed," U.S. GAO warns. "Congress and the administration will need to make difficult budgetary and policy decisions to address the key drivers of

Most of the tax benefits from no tax on overtime would go to the highest income taxpayers, according ITEP. No tax on overtime would also reduce horizontal tax equity, as those with similar total income could be taxed differently depending on the amount of overtime hours

Some question whether DOGE cuts will actually translate into budget savings. There is a mechanism that Presidents have used in the past to reclaim funds previously approved by Congress. Rescissions target unobligated discretionary funds that have not yet been spent or promised

$36,213,590,712,228.65 (-) #NationalDebt

The United States spent $4.9 trillion total on #healthcare in 2023, according to the Centers for Medicare and Medicaid Services. But what does that huge number really mean, given the complex, overlapping system of public and private healthcare insurance? Who is “spending” all

Defense spending by the United States accounts for nearly 40% of military expenditures around the world. 🔗pgpf.org/article/the-un…

$36,217,480,035,223.27 (+) #NationalDebt

How much does the U.S. government spend each year on foreign aid? See if you know the answer with our budget #quiz.

Tax myth: Low-income earners don't pay any federal #taxes. 🔗pgpf.org/article/how-th…