Tax Revenues Return to Historical Average
Since World War II, tax receipts have averaged around 18.1 percent of GDP. Receipts have fallen due to the recession, but as the economy recovers, they will rise above the historical average level by the end of the decade, even if all the 2001 and 2003 tax cuts are made permanent.
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PERCENTAGE OF GDP
Sources: Office of Management and Budget and Congressional Budget Office (Alternative Fiscal Scenario).