Government current tax receipts
W054RC1Q027SBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,961.10
Year-over-Year Change
5.47%
Date Range
1/1/1947 - 1/1/2025
Summary
Government current tax receipts measure the total amount of tax revenue collected by the U.S. federal government. This metric is a key indicator of fiscal health and economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Government current tax receipts represent the income, social insurance, and other taxes paid to the federal government. This data is used by economists and policymakers to assess the government's fiscal position and the broader economic climate.
Methodology
The data is collected and reported quarterly by the U.S. Bureau of Economic Analysis.
Historical Context
Changes in tax receipts can influence government policies and budgeting decisions.
Key Facts
- Tax receipts reached a record high of $3.5 trillion in 2019.
- Corporate tax receipts declined by 34% in 2020 due to the COVID-19 pandemic.
- Individual income taxes account for the largest share of federal tax revenue.
FAQs
Q: What does this economic trend measure?
A: Government current tax receipts measure the total amount of tax revenue collected by the U.S. federal government, including income, social insurance, and other taxes.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of fiscal health and economic activity, providing insights into the government's financial position and the broader economic climate.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Changes in tax receipts can influence government policies and budgeting decisions, as policymakers use this data to assess the government's fiscal position and make informed policy choices.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical delay of several weeks after the end of each quarter.
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Citation
U.S. Federal Reserve, Government current tax receipts (W054RC1Q027SBEA), retrieved from FRED.