How Much Money Does The Federal Government Collect Every Year Government revenue is income received from taxes and other sources to pay for government expenditures The U S government has collected 1 89 trillion in fiscal year
The federal government collected 4 47 trillion in revenue during the 2023 fiscal year That s a lot 10 zeros to be exact but it also represents a decrease of 15 5 a drop Money for federal spending primarily comes from government tax collection and borrowing In FY 0 government spending equated to roughly 0 out of every 10 of the goods produced and services provided in the United States
How Much Money Does The Federal Government Collect Every Year
How Much Money Does The Federal Government Collect Every Year
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The US collected 5 03 trillion in federal revenues in 2022 up 630 billion from the previous year after adjusting for inflation That equates to 15 098 collected per person up 14 from 2021 Most revenues came from individual The federal government collected revenues of 4 9 trillion in 2022 equal to 19 6 percent of gross domestic product GDP figure 2 Over the past 50 years federal revenue has averaged 17 4 percent of GDP ranging from 20 0 percent
In fiscal year 2025 the federal government has spent 3 04 trillion The federal government funds a variety of programs and services that support the American public The government also spends money on interest it has incurred on These tables provide an overview of the main IRS functions processing tax returns and collecting revenue Much of these data are published by fiscal year however
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View CBO s budget infographics to see how much the federal government spent and took in during fiscal year 2024 as well as broader trends in the budget over the past few When looking at the sources of tax revenue by level of government in 2019 the federal government of the United States collected the largest share of tax revenue at 39 2 percent of total tax revenue Social
Federal excise taxes in the year 2020 alone raised 86 8 billion which accounts for about 2 5 of the overall income tax revenue the government brings in every year These numbers have In fiscal year 2019 Oct 1 2018 to Sept 30 2019 the federal government collected 3 5 trillion in revenue If you live or work in this country most likely you contribute to
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https://fiscaldata.treasury.gov › ... › government-revenue
Government revenue is income received from taxes and other sources to pay for government expenditures The U S government has collected 1 89 trillion in fiscal year
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The federal government collected 4 47 trillion in revenue during the 2023 fiscal year That s a lot 10 zeros to be exact but it also represents a decrease of 15 5 a drop
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