Highway and Transit Outlays Outstripping Inflows
Federal outlays for highways and mass transit are projected to continue outstripping the revenues that finance them.
https://www.pgpf.org/chart-archive/0283-outlays-revenues-highways
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Federal outlays for highways and mass transit are projected to continue outstripping the revenues that finance them.
https://www.pgpf.org/chart-archive/0283-outlays-revenues-highways
“With interest on the debt rising to more than $1 billion a day, voters know our fiscal condition is simply not sustainable,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2023/02/fci-press-release
Most federal revenues come from individual income and payroll taxes
Corporate and individual tax expenditures are large in comparison to annual taxes collected, as well as to the government’s major programs.
https://www.pgpf.org/chart-archive/0054_tax-expenditures-comparison
Revenue from corporate income taxes has largely decreased since 1950.
https://www.pgpf.org/chart-archive/0303_corporate_tax_share_gdp
Unlike during other recessions, revenues from the capital gains tax have remained relatively steady throughout the COVID-19 pandemic.
https://www.pgpf.org/chart-archive/0317_capital_gains_revenues
With a divided government, an opportunity exists for lawmakers to seek and find common ground on the nation’s pressing fiscal and economic challenges.
CBO projects that interest rates will remain low throughout the decade.
https://www.pgpf.org/chart-archive/0269_interest_rates_projected_to_rise
“Today’s CBO report may not be a surprise, but it should be alarming for all of us," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.