Knowledge Tree
Congressional Budget Office
Also known as: CBO, U.S. Congressional Budget Office
Facts (13)
Sources
How the Government Subsidizes Wealth Inequality americanprogress.org Jun 25, 2014 10 facts
claimThe Congressional Budget Office (CBO) and the Office of Management and Budget (OMB) estimate individual tax expenditures separately, meaning their analyses do not account for the interactive effects of repealing multiple tax expenditures simultaneously.
measurementUnder current law, the Congressional Budget Office (CBO) projected that the national debt would begin to increase as a share of gross domestic product (GDP) starting in 2018.
measurementThe Congressional Budget Office (CBO) estimated that primary deficits—deficits excluding interest costs for the national debt—would total $1.931 trillion from 2014 to 2023.
measurementAccording to the Congressional Budget Office, 21 percent of the federal revenue reduction caused by the step-up in basis rule benefits the top 1 percent of income earners.
claimRepealing step-up in basis and low tax rates for capital gains and dividends would keep the national debt on a downward path as a share of GDP through the end of the five-year budget window analyzed by the Congressional Budget Office.
measurementThe Congressional Budget Office estimates that the step-up in basis rule will reduce federal revenues by $644 billion over a 10-year period.
measurementThe Congressional Budget Office (CBO) estimated that the total 10-year cost for major tax expenditures, including step-up in basis and reduced rates on capital gains and dividends, was $1.984 trillion from 2014 to 2023.
measurementThe nonpartisan Congressional Budget Office estimates that the tax expenditure for low rates on capital gains and dividends will cost the federal government $1.34 trillion in revenue over the next 10 years.
claimRepealing step-up in basis broadens the capital gains tax base, but the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) assume this broader base is taxed at current reduced capital gains rates rather than higher rates.
claimThe Congressional Budget Office (CBO) projected that for the three years following the report, federal deficits would be low enough that the national debt would fall as a share of gross domestic product (GDP).
14.5 Government Policies to Reduce Income Inequality pressbooks-dev.oer.hawaii.edu 1 fact
claimAccording to the Congressional Budget Office, the typical pattern in the United States is that people with higher incomes pay a higher average share of their income in federal income taxes, despite individual cases of high-income earners paying very little.
Tracking the Economic Effects of Tariffs | The Budget Lab at Yale budgetlab.yale.edu Mar 2, 2026 1 fact
procedureThe Budget Lab at Yale's revenue estimates in the 'State of Tariff Report' account for decreases in other revenue sources, such as federal payroll and corporate income taxes, by following the methodology of the U.S. Congressional Budget Office.
How do taxes affect income inequality? - Tax Policy Center taxpolicycenter.org 1 fact
measurementAccording to the Congressional Budget Office, the share of total income received by the top 20 percent of the population rose from 46 percent to 55 percent between 1979 and 2019, based on a measure including labor, business, capital income, and government social insurance benefits.