Knowledge Tree
federal revenue
Also known as: federal revenue, federal receipts, federal revenues
Facts (12)
Sources
History of tariffs in the United States - Wikipedia en.wikipedia.org 7 facts
measurementIn 1944, the United States federal government collected $417.0 million in tariff income, which accounted for 0.9% of federal receipts, with an average tariff rate of 10.6%.
measurementIn 1830, the United States federal government collected $21.9 million in tariff income, which accounted for 88.2% of federal receipts, with an average tariff rate of 35.0%.
measurementIn 1918, the United States federal government collected $947.0 million in tariff income, which accounted for 25.8% of federal receipts, with an average tariff rate of 31.2%.
measurementIn 1792, the United States federal government collected $4.4 million in tariff income, which accounted for 95.0% of federal receipts, with an average tariff rate of 15.1%.
measurementIn 1870, the United States federal government collected $194.5 million in tariff income, which accounted for 47.3% of federal receipts, with an average tariff rate of 44.6%.
measurementCustoms duties accounted for approximately 80–95% of all federal revenue in the United States up to 1860.
claimThe Walker Tariff increased trade with Britain and other nations while generating more federal revenue than the previous higher tariff rates.
The Role of Taxation in Family Inequality: Possibilities for Reform ncfr.org Dec 20, 2024 2 facts
measurementThe mortgage interest deduction (MID) results in up to $47 billion in foregone federal revenue annually, with 84% of the tax reduction accruing to White households and 79% accruing to the top 10% of all earners.
measurementThe mortgage interest deduction (MID) in the United States results in up to $47 billion in foregone federal revenue annually.
U.S. tariff outcomes dependent on trading partner responses dallasfed.org May 13, 2025 1 fact
accountThroughout the 19th century and into the early 20th century, customs duties were the primary contributors to U.S. federal revenue because the government lacked alternative income sources.
How the Government Subsidizes Wealth Inequality americanprogress.org Jun 25, 2014 1 fact
claimIf the federal government eliminated step-up in basis and reduced tax rates on capital gains and dividends, federal revenues would be sufficient to cover all federal programs over the 2014-2023 period, resulting in a primary budget surplus.
Tariffs: Estimating the Economic Impact of the 2025 Measures and ... richmondfed.org Apr 2, 2025 1 fact
measurementThe United States relied on tariffs exceeding 30 percent as its primary source of federal revenue from the nation's founding until the introduction of income taxes in 1913.