Six Charts That Show How Low Corporate Tax Revenues Are in the United States Right Now
Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.
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Compared to historical trends and other advanced economies, corporate tax revenues in the United States are low.
"The rise in the cost of servicing the debt is the significant challenge . . . threatening to crowd out federal spending priorities," writes Dana M. Peterson and Lori Esposito Murray.
https://www.pgpf.org/expert-views/fiscal-commission/the-debt-crisis-is-here
"Today’s CBO projections are the latest loud and clear warning about America’s unsustainable national debt," said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/02/peterson-foundation-statement-on-new-cbo-report
Over the next 10 years, the spending caps are projected to reduce deficits by approximately $900 billion, and the Supercommittee is charged with finding $1.5 trillion of additional savings.
https://www.pgpf.org/analysis/long-term-implications-of-the-budget-control-act-of-2011
PGPF Solutions Initiative plans from five think tanks show declining federal debt through 2037.
Following the 2017 tax reform, the federal statutory corporate tax rate in the United States is now more in line with many other OECD countries.
https://www.pgpf.org/chart-archive/0273_statutory_corporate_income_tax_rates
“As the 2024 campaign heats up, voters are calling on candidates to show leadership by backing a fiscal commission to address our unsustainable national debt,” said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/01/fci-press-release
Medicaid’s role in state budgets is unique, since the program acts as both an expenditure and the largest source of federal support in state budgets.
https://www.pgpf.org/budget-basics/budget-explainer-how-do-states-pay-for-medicaid
"Too often in recent years, Washington has largely governed by crisis. No area better reflects the pressure of constant crisis than the federal budget," writes Leon E. Panetta