Featured Fast Facts
  • Federal Spending

    Federal Spending

    The federal fiscal year begins on October 1 and ends on the subsequent September 30th. For example, fiscal year 2010 began on October 1, 2009 and ended on September 30, 2010.

    Prior to 1913, income taxes did not exist or were inconsequential, other than for a brief time during the Civil War period, when special tax legislation raised income tax share of Federal receipts to as much as 13 percent in 1866.

    Total spending has increased substantially as a percent of GDP since the 1950s.

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  • Health Care

    Health Care

    During the 1975 to 2005 period, out-of-pocket payments fell from 31 percent of national health expenditures to 13 percent, while payments by private insurers rose from 25 percent to 37 percent.

    The new law would maintain and put into effect a number of policies that might be difficult to sustain over a long period of time.

    In reaction to the tax with the new law, which would take effect in 2018, many employers would reduce the scope of their health benefits.

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