Total Revenue for Insurance Carriers and Related Activities, Establishments Subject to Federal Income Tax
Percent Change
REV524TAXABL157QNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
-9.09%
Date Range
10/1/2009 - 4/1/2025
Summary
The Percent Change economic trend measures the quarterly percent change in total state and local government tax revenue in the United States. This metric is closely watched by policymakers and economists to gauge the health of state and local government finances.
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
The Percent Change in state and local tax revenue provides insight into the short-term fiscal conditions of sub-national governments. It serves as an indicator of the broader economic environment, as tax collections tend to rise and fall with changes in personal income, consumer spending, and business activity.
Methodology
This data is collected and calculated by the U.S. Census Bureau based on quarterly surveys of state and local government tax revenue.
Historical Context
Policymakers and analysts use the Percent Change in tax revenue to inform fiscal and budgetary decisions at the state and local level.
Key Facts
- Percent Change in state/local tax revenue averaged 4.9% annually from 2010-2020.
- Tax revenue fell by 5.2% in Q2 2020 due to the COVID-19 pandemic.
- California and New York account for over 30% of total U.S. state and local tax collections.
FAQs
Q: What does this economic trend measure?
A: The Percent Change trend measures the quarterly percent change in total state and local government tax revenue in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the fiscal health of sub-national governments and serves as an indicator of broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau based on quarterly surveys of state and local government tax revenue.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Percent Change in tax revenue to inform fiscal and budgetary decisions at the state and local level.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month lag.
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Citation
U.S. Federal Reserve, Percent Change (REV524TAXABL157QNSA), retrieved from FRED.