Personal Taxes | Center on Budget and Policy Priorities

We work to ensure that, in raising revenue for deficit reduction or other purposes, policymakers take a serious look at raising personal income taxes on the most well-to-do households — either by raising their tax rates or by scaling back the deductions, loopholes, and other preferences available to them.

Federal Tax Expenditures

Federal Payroll Taxes

Where Do Federal Tax Revenues Come From?

Marginal and Average Tax Rates

Tax Exemptions, Deductions, and Credits

The Child Tax Credit

The Federal Estate Tax

Experts

Joel Friedman

Biden Proposals Would Reduce Large Tax Advantages for Those at the Top, Address Tax Gap

Income and wealth have become increasingly concentrated in recent decades as the fortunes of those at the very top have...

Asking Wealthiest Households to Pay Fairer Amount in Tax Would Help Fund a More Equitable Recovery

To fund the investments that would help build a more equitable recovery, President Biden is expected to ask the wealthiest households to pay a fairer amount in federal taxes. With the nation’s...

Strengthening Medicare Financing

Medicare’s Hospital Insurance (HI) trust fund faces depletion in only about three years, according to the latest projections from the Congressional Budget Office (CBO). To improve program solvency...

“Look-Back” Tax Change Would Help Working Families, Economy

Bipartisan House and Senate bills would protect low- and moderate-income families from a financial hit at tax time next year by letting them base their Earned Income Tax Credit (EITC) and Child Tax...

Repealing “SALT” Cap Would Be Regressive and Proposed Offset Would Use up Needed Progressive Revenues

More modest proposals to modify the SALT cap offer a superior approach; such proposals can be designed to exempt the vast share of taxpayers from the cap and at far less...

Much of Wealthiest Households’ Income Escapes Annual Tax or Gets Special Breaks

High-income, and especially high-wealth, tax filers enjoy many generous tax benefits that can dramatically lower their tax bills, our new report explains. Eliminating or limiting these preferences...

Substantial Income of Wealthy Households Escapes Annual Taxation Or Enjoys Special Tax Breaks

Reform is...

Taxing Social Security Benefits Is Sound Policy

Social Security beneficiaries with higher incomes pay income tax on part of their benefits. Those with incomes below $25,000 ($32,000 for couples) pay no tax on benefits, while those with the highest...

How the Federal Tax Code Can Better Advance Racial Equity

Historical racism and continuing racial prejudice and discrimination have helped to shape factors that determine households’ tax liability, and changes in tax policy and administration can widen or...

Regulating the “Wild West” of Tax Return Preparation

Taxpayers’ widespread confusion and frustration this past filing season, the first under the 2017 tax law, highlights the important role of tax preparation professionals in helping millions file...

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Policy Basics

The federal government relies heavily on the personal income tax, collecting about 49 percent of its revenues each year from that source.

Experts

The federal government relies heavily on the personal income tax, collecting about 49 percent of its revenues each year from that source. 