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Presently, revenues raised by the corporate income tax represent the third-largest category of federal tax revenue in the United States, trailing those generated from the individual income and payroll taxes.
https://www.pgpf.org/budget-basics/the-us-corporate-tax-system-explained
President Obama's budget keeps the debt from rising as a share of the economy, but it does not address the key drivers of our long-term unsustainable debt.
“As the national debt grows continually while the ceiling deadline inches closer, voters have an unprecedented level of concern about our fiscal outlook,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2023/05/fci-press-release
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for May 2023.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-may-2023
The President's Budget for Fiscal Year 2013 projects that the budget deficit will gradually decline under the President's policies from $1,327 billion in 2012 to $704 billion in 2022.
https://www.pgpf.org/analysis/analysis-of-the-president%E2%80%99s-fiscal-year-2013-budget
The Peterson Foundation cited new projections which demonstrate that $1.2 trillion in deficit reduction that fails to address the fundamental drivers of our growing debt will not stabilize the level of debt relative to the economy, which is the real test of any long-term fiscal plan.
The latest budget outlook released by CBO is the first to fully capture the budgetary impact of the pandemic.
A study commissioned by the Peter G. Peterson Foundation on S. 1796, America's Healthy Future Act of 2009 confirms the Congressional Budget Office analysis that the bill, as passed by the Senate Finance Committee, could result in slightly lower deficits if it is implemented as intended and remains unchanged.
https://www.pgpf.org/press-release/peter-g-peterson-foundation-releases-new-health-care-reform-study
Up to Us provides an opportunity for college students to raise awareness and engagement on America's long-term fiscal and economic challenges.
https://www.pgpf.org/blog/highlights-from-the-2014-up-to-us-campus-competition
The most precious asset the nation has is its people. But we are leaving far too many behind.