Millions of Dollars
This dataset tracks millions of dollars over time.
Latest Value
56246.00
Year-over-Year Change
25.64%
Date Range
10/1/2003 - 1/1/2025
Summary
The 'Millions of Dollars' trend measures quarterly federal government tax collections in the United States. This metric is a key indicator of economic activity and government revenue.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the total amount of federal tax revenue collected each quarter, reported in millions of U.S. dollars on a seasonally adjusted basis. It is a closely watched indicator used by economists, policymakers, and analysts to assess the health of the U.S. economy and government fiscal position.
Methodology
The data is collected and calculated by the U.S. Department of the Treasury.
Historical Context
Trends in federal tax collections are used to inform economic policy decisions and forecasts.
Key Facts
- Quarterly tax collections averaged $576 billion in 2022.
- Tax revenue fell sharply during the COVID-19 pandemic in 2020.
- Corporate income taxes account for about 8% of total federal tax collections.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Dollars' trend measures the total amount of federal tax revenue collected in the United States on a quarterly basis.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic activity and government fiscal health, used by economists, policymakers, and analysts to assess the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Department of the Treasury.
Q: How is this trend used in economic policy?
A: Trends in federal tax collections are used to inform economic policy decisions and forecasts by the government and central bank.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Millions of Dollars (GOV5415TAXABL144QNSA), retrieved from FRED.