As ordered reported by the Senate Committee on Veterans’ Affairs on March 18, 2026

    

CBO analyzes the effects of carbon import tariffs and export rebates (implemented along with a carbon tax) on sectoral output, trade, and carbon dioxide emissions and compares them with the effects of a carbon tax alone.

    

View CBO's budget infographics to see how much the federal government spent and took in during fiscal year 2025, as well as broader trends in the budget over the past few decades.

    

Discretionary outlays by the federal government totaled $1.9 trillion in 2025. Outlays for nondefense programs accounted for more than half of that total.

    

Mandatory outlays by the federal government totaled $4.2 trillion in 2025; more than half was for Social Security and Medicare. The largest increases over the past 20 years have been for the major health care programs.

    

Revenues received by the federal government in 2025 totaled $5.2 trillion, of which more than half was receipts from individual income taxes.

    

The federal deficit in 2025 was $1.8 trillion, equal to 5.8 percent of gross domestic product.