Fighting for a U.S. federal budget that prioritizes peace, economic security and shared prosperity
March 19, 2014 - Download PDF Version
President Obama proposes collecting $3.34 trillion in total tax revenue in fiscal year 2015, with individual income taxes and payroll taxes – which fund Social Security and Medicare – as the largest revenue sources. Tax revenue will cover 84 percent of total spending. The rest – 16 percent – will come from borrowing.