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1 Scott Greenberg, Tax Freedom Day 2016 Is April 24th 1 (2016)

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TAXS                        Tax Freedom Day 2016

FOUNDATION

REPORT                      is April 24th
Apr. 2016

                            By Scott Greenberg
                                 Policy Analyst



                            Key Findings

                                This year, Tax Freedom Day falls on April 24, or 114 days into the year
                                (excluding Leap Day).

                                Americans will pay $3.3 trillion in federal taxes and $1.6 trillion in state
                                and local taxes, for a total bill of almost $5.0 trillion, or 31 percent of the
                                nation's income.

                             *  Tax Freedom Day is one day earlier than last year, due to slightly lower
                                federal tax collections as a proportion of the economy.

                             *  Americans will collectively spend more on taxes in 2016 than they will on
                                food, clothing, and housing combined.

                                If you include annual federal borrowing, which represents future taxes
                                owed, Tax Freedom Day would occur 16 days later, on May 10th.

                                Tax Freedom Day is a significant date for taxpayers and lawmakers because
                                it represents how long Americans as a whole have to work in order to pay
                                the nation's tax burden.





The Tax Foundation is the nation's
leading independent tax policy
research organization. Since 1937,
our research, analysis, and experts
have informed smarter tax policy
at the federal, state, and local
levels. We are a 501(c)(3) non profit
organization.
©2016 Tax Foundation
Distributed under
Creative Commons CC BY NC 4.0
Editor, Melodie Bowler
Designer, Dan Carvajal
Tax Foundation
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Washington, DC 20005
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taxfoundation.org

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