Federal revenueFY2025
Where does the federal government get its money?
It collected $5.23 trillion in fiscal year 2025: 51% from individual income taxes and 32% from payroll taxes.That is about $15,316 per person. It spent $7.01 trillion, so $1.78 trillion was borrowed. In FY2026 through August 2026 receipts were $4.85 trillion.
Every source, FY2025
Income and payroll taxes bring in 83% of federal money
Net receipts by source. Select customs duties for monthly tariff figures.
| Source | FY2025 | Share |
|---|---|---|
| Individual income taxes | $2.66T | 50.7% |
| Payroll taxes (Social Security and Medicare) | $1.69T | 32.2% |
| Corporate income taxes | $452.1B | 8.6% |
| Customs duties (tariffs) | $194.9B | 3.7% |
| Excise taxes | $105.9B | 2.0% |
| Unemployment insurance taxes | $54.0B | 1.0% |
| Miscellaneous (incl. Federal Reserve earnings) | $47.9B | 0.9% |
| Estate and gift taxes | $29.5B | 0.6% |
| Federal employee retirement contributions | $8.6B | 0.2% |
Every source, FY2015 to FY2026
| Source | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026* |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Individual income taxes | $1.54T | $1.55T | $1.59T | $1.68T | $1.72T | $1.61T | $2.04T | $2.63T | $2.18T | $2.43T | $2.66T | $2.55T |
| Payroll taxes (Social Security and Medicare) | $1.01T | $1.06T | $1.11T | $1.12T | $1.20T | $1.26T | $1.25T | $1.41T | $1.56T | $1.65T | $1.69T | $1.61T |
| Corporate income taxes | $343.8B | $299.6B | $297.0B | $204.7B | $230.2B | $211.8B | $371.8B | $424.9B | $419.6B | $529.9B | $452.1B | $294.9B |
| Customs duties (tariffs) | $35.0B | $34.8B | $34.6B | $41.3B | $70.8B | $68.6B | $80.0B | $99.9B | $80.3B | $77.0B | $194.9B | $167.3B |
| Excise taxes | $98.3B | $95.0B | $83.8B | $95.0B | $98.9B | $86.8B | $75.3B | $87.7B | $75.8B | $101.4B | $105.9B | $92.9B |
| Unemployment insurance taxes | $51.2B | $48.9B | $45.8B | $45.0B | $40.9B | $43.1B | $56.6B | $66.5B | $49.4B | $48.6B | $54.0B | $48.6B |
| Miscellaneous (incl. Federal Reserve earnings) | $146.3B | $154.7B | $127.7B | $110.5B | $84.6B | $116.5B | $133.3B | $135.4B | $39.0B | $43.2B | $47.9B | $43.1B |
| Estate and gift taxes | $19.2B | $21.4B | $22.8B | $23.0B | $16.7B | $17.6B | $27.1B | $32.6B | $33.7B | $31.6B | $29.5B | $36.0B |
| Federal employee retirement contributions | $3.7B | $3.9B | $4.2B | $4.5B | $4.8B | $5.2B | $5.6B | $6.3B | $6.9B | $8.0B | $8.6B | $7.7B |
| Total | $3.25T | $3.27T | $3.31T | $3.33T | $3.46T | $3.42T | $4.05T | $4.90T | $4.44T | $4.92T | $5.23T | $4.85T |
U.S. Treasury, Monthly Treasury Statement, September 2025.
Since 1960
Individual income and payroll taxes have carried federal revenue for decades
Receipts by source, fiscal years, nominal dollars
- Individual income
- Payroll (social insurance)
- Corporate income
- Excise
- Other (incl. customs, estate)
Share of each source, every tenth year since 1934
| Year | Total receipts | Individual income | Payroll | Corporate | Excise | Other |
|---|---|---|---|---|---|---|
| 2025 | $5.24 trillion | 51% | 33% | 9% | 2% | 5% |
| 2020 | $3.42 trillion | 47% | 38% | 6% | 3% | 6% |
| 2010 | $2.16 trillion | 42% | 40% | 9% | 3% | 7% |
| 2000 | $2.03 trillion | 50% | 32% | 10% | 3% | 5% |
| 1990 | $1.03 trillion | 45% | 37% | 9% | 3% | 5% |
| 1980 | $517.1 billion | 47% | 31% | 12% | 5% | 5% |
| 1970 | $192.8 billion | 47% | 23% | 17% | 8% | 5% |
| 1960 | $92.5 billion | 44% | 16% | 23% | 13% | 4% |
| 1950 | $39.4 billion | 40% | 11% | 26% | 19% | 3% |
| 1940 | $6.5 billion | 14% | 27% | 18% | 30% | 11% |
Office of Management and Budget, Historical Tables, Table 2.1 (FY2027 Budget).
Revenue and spending
Receipts have been below outlays every year since FY2002. The gap is the deficit, covered by borrowing: see the federal deficit by year, the national debt and spending as a share of GDP. Where federal taxes are collected, state by state: federal taxes paid by state.
Questions and answers
- Where does the federal government get its money?
- Mostly from individual income taxes (51% of receipts in FY2025) and payroll taxes for Social Security and Medicare (32%). Corporate income taxes, customs duties, excise taxes and other sources make up the rest. Spending above receipts is borrowed.
- How much does the federal government collect in taxes a year?
- $5.23 trillion in fiscal year 2025 (October 2024 to September 2025), +6% on FY2024. In FY2026 through August 2026 receipts were $4.85 trillion.
- How much is federal revenue per person?
- About $15,316 per US resident in FY2025.
- What is federal revenue as a share of GDP?
- 17.3% of GDP in FY2025, against an average of 17.3% over fiscal years 1975 to 2024 (OMB Historical Table 1.2).
- Do my taxes pay for specific programs?
- Payroll taxes go to the Social Security and Medicare trust funds. Most other receipts go into the general fund and pay for spending as a whole; see where your taxes go.
Related
- Tariff revenueby month
- Federal deficitby year
- Spending as % of GDPsince 1930
- Immigration enforcementby year
- Customs and Border Protectionby year
- Federal Bureau of Prisonsby year
- Disaster reliefby year
- Medical researchby year
Sources and notes
- U.S. Treasury, Monthly Treasury Statement, receipts by source, FY2015-FY2026. Public domain.
- Office of Management and Budget, Historical Tables 1.2 and 2.1 (FY2027 Budget), actual years. Public domain.
- Population: U.S. Census Bureau, Vintage 2025 estimates.