![]() Other revenue sources included corporate income taxes, sales taxes, and customs duties. More than half was collected through individual income taxes, while 30 was through payroll taxes. It evolved into the Inflation Reduction Act, which was enacted in August 2022. The federal government collected 5.0 trillion in revenue in fiscal year 2022 (FY 2022) or 15,098 per person. The Build Back Better Act was proposed as the budget reconciliation bill for FY2022. The federal deficit in 2021 was 2.8 trillion, equal to 12.4 percent of gross domestic product. On March 9, 2022, the House of Representatives passed the Consolidated Appropriations Act, 2022 ( H.R. 2471), as well as a fourth continuing resolution lasting four days ( H.J.Res. 75). State spending after 2021 and local spending after 2021 are guesstimated by projecting the latest change in reported spending forward to future years. The FY2022 budget was the first to not be subject to the spending caps of the Budget Control Act of 2011 due to its expiration.Ī series of three continuing resolutions were passed to initially fund government operations. Note: The shaded section from 202021 onwards shows forecasts published alongside the March 2021 Budget. ![]() Office of Management and Budget and Federal Reserve Bank of St. The Inflation Reduction Act was passed as the budget reconciliation bill for FY2022. Graph and download economic data for Federal Net Outlays as Percent of Gross. 2023 we updated the federal tax collections by state for 2020, 2021, 2022, using IRS. US Budget Year: By default, the table displays budgeted and estimated numbers from the most recent US Federal Budget submitted. The final funding package was passed as an omnibus spending bill, the Consolidated Appropriations Act, 2022. Breakdown of estimated spending by function for 2022 to 2027 and pie chart for 2023 from federal budget. The government was initially funded through a series of four temporary continuing resolutions. The United States federal budget for fiscal year 2022 ran from October 1, 2021, to September 30, 2022.
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