CBO: Taxes

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Congressional Budget Office:

“Over the past 40 years, federal revenues have ranged from nearly 21 percent of GDP in fiscal year 2000 to just over 15 percent in fiscal years 2009, 2010, and 2011, averaging roughly 18 percent of GDP over that span. Under current law, revenues will rise significantly from their recent low relative to GDP over the next few years as the economy recovers from the recession and the tax reductions originally enacted in 2001, 2003, and 2009 expire. CBO analyzes the budgetary and economic effects of various features of the current tax code and proposals for changes in the tax code.”

See CBO, Taxes.

“Since its founding in 1974, the Congressional Budget Office has produced independent, nonpartisan, timely analysis of economic and budgetary issues to support the Congressional budget process. The agency’s long tradition of nonpartisanship is evident in each of the dozens of reports and hundreds of cost estimates its economists and policy analysts produce each year. CBO analyses do not make policy recommendations, and each report and cost estimate discloses our assumptions and methodologies. All CBO employees are appointed solely on the basis of professional competence, without regard to political affiliation.”

See CBO, About.

See CBO, Topics.