How much revenue has the US government collected this fiscal year ?
In fiscal year 2025, the US government collected $0.63 trillion in revenue, vital for funding public services and programs. It supports healthcare, education, infrastructure, defense, and social welfare. Effective revenue management ensures a balanced budget and efficient resource allocation for societal well-being.
$628,524,535,871
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The fiscal year (2025) is updated monthly based on the Monthly Treasury Statement (MTS) dataset.
The graph features an interactive graph that shows year-wise US government revenue by year. Find out year-wise trends and gain valuable insights into the nation’s fiscal history at a glance.
USA Financial Data by Fiscal Year
The table below presents a detailed breakdown of key financial data in the United States, organized by fiscal year. It includes the record date and total revenue, offering a comprehensive overview for analysis and reference.
| Fiscal Year | Record Date | Total Revenue |
|---|---|---|
|
2025
(Projected Data)
|
2024-11-30 | $5,656,720,822,838 |
| 2024 | 2024-09-30 | $4,918,735,644,738 |
| 2023 | 2023-09-30 | $4,439,283,739,921 |
| 2022 | 2022-09-30 | $4,896,119,043,921 |
| 2021 | 2021-09-30 | $4,045,978,858,727 |
| 2020 | 2020-09-30 | $3,419,955,005,765 |
| 2019 | 2019-09-30 | $3,462,195,610,149 |
| 2018 | 2018-09-30 | $3,328,745,244,718 |
| 2017 | 2017-09-30 | $3,314,893,904,524 |
| 2016 | 2016-09-30 | $3,266,688,370,973 |
| 2015 | 2015-09-30 | $3,248,723,200,916 |
Sources of Revenue for the U.S. Federal Government, FYTD - 2025
Revenue by Source Categories
Total Revenue Collected by the U.S. Government this Year
Government revenue represents the funds collected through taxes and other sources to finance federal programs, services, and expenditures. As of the fiscal year 2025, the U.S. government has collected $327 billion, according to the latest data from the Monthly Treasury Statement (MTS).
This figure shows a decrease compared to the $403 billion collected during the same period in fiscal year 2024 (October 2023 to date), marking a reduction of $77 billion.
Highlights
Primary Revenue Sources
The largest contributors to federal revenue include:
- Individual and corporate taxes
- Social Security and Medicare taxes
Additional Revenue Streams
Beyond taxes, the government generates revenue from:
- Customs duties on imported goods
- Leasing government-owned land and buildings
- Sales of natural resources
- National Park entry fees and federal agency payments
Revenue-to-GDP Ratio
In fiscal year 2024, federal revenue equaled approximately 17% of GDP, amounting to $4.92 trillion.
Federal Revenue Overview
If you lived or worked in the U.S. in fiscal year 2024, your taxes contributed to the $4.92 trillion collected by the federal government. This revenue supports:
- Salaries for federal employees
- National infrastructure projects
- Programs and services that benefit U.S. citizens and businesses
However, federal spending in fiscal year 2024 reached $6.75 trillion, resulting in a deficit of $1.83 trillion.
Sources of Federal Revenue
- Individual Income Taxes: In fiscal year 2025, these taxes accounted for 51% of total revenue, funding diverse government programs and initiatives.
-
Social Security and Medicare Taxes: These taxes contribute 37% of revenue, funding programs like:
- Social Security: Old Age and Survivors Insurance (OASI) and Disability Insurance (DI)
- Medicare: Hospital Insurance (HI) and Supplementary Medical Insurance (SMI)
- Other Taxes and Fees: Excise taxes, estate taxes, licensing fees, and resource sales also contribute. Even minor payments like national park fees play a role in federal operations.
Federal Revenue Trends Over Time
Federal revenue fluctuates based on economic conditions, tax policy, and income levels. For example:
- Higher earnings for individuals and corporations typically lead to increased tax collection.
- Tax rate adjustments directly influence revenue levels.
In fiscal year 2024, the government achieved its highest-ever revenue collection, fueled by strong economic performance and consistent tax contributions.
Revenue in Context: Federal Revenue vs. GDP
In fiscal year 2022, federal revenue equaled 17% of GDP, a standard measure of the government’s economic role. This relationship reflects how tax policies impact national economic activity.
Final Say
Understanding the sources and trends in federal revenue highlights how taxes and other contributions fund essential programs and services. While fluctuations occur due to economic changes, the federal government’s ability to manage its income is vital for national growth and stability.
What is Federal Revenue?
Federal revenue refers to the money generated by the U.S. government through various sources to fund its programs and operations. This revenue is a critical component of the federal budget and plays a significant role in shaping the nation's economic growth. For 2023, federal revenue was projected to total approximately $4.9 trillion, equating to 18.4% of GDP, according to recent estimates.
Major Sources of Federal Revenue
The U.S. government primarily earns revenue from taxes paid by individual taxpayers, small businesses, and corporations. Additional sources of tax revenue include excise taxes, estate taxes, and other levies.
In Fiscal Year 2023:
- Individual income taxes accounted for 52% of all revenue.
- Social Security and Medicare taxes made up another 36%.
Revenue also comes from payments made to federal agencies, such as the U.S. Department of the Treasury, contributing to overall government funds.
Trends in Federal Revenue Over Time
Federal revenue tends to increase during periods of higher individual and corporate earnings, as more taxable income is generated. Revenue also rises when tax rates are elevated. Conversely, revenue declines during economic downturns or when tax rates are reduced.
The U.S. government experienced its highest revenue collection in history in 2022, totaling $4.9 trillion. This marked a significant growth from $4.05 trillion in 2015.
Revenue fluctuations are also influenced by trade policies. For example:
- Increasing import duties can raise revenue when international trade volumes are high.
- Higher tariffs may reduce imports, potentially leading to lower customs duty collections.
The Relationship Between GDP and Tax Revenues
Tax revenues are derived from a portion of a country's domestic production (GDP). This relationship reflects the economic health of the nation and its growth potential. Key aspects include:
- In developed economies, higher income levels enable individuals and corporations to afford better goods and services while contributing more in taxes.
- Increased tax revenue supports public goods such as education, infrastructure, and social development programs.
The tax-to-GDP ratio serves as a critical indicator of a country’s economic strength. A higher ratio generally signals better fiscal health and greater capacity for future growth.