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TC.171
The baseline tax system generally would tax all income under the regular tax rate schedule. It would not allow preferentially low (or zero) tax rates to apply to certain types or sources of income. In contrast, under current law the interest earned on State and local government bonds issued to finance public purpose construction (e.g., schools, roads, sewers), equipment acquisition, and other public purposes is tax-exempt. The interest on bonds issued by Indian tribal governments for essential governmental purposes is also tax-exempt.
This chart shows obligations for the program by fiscal year. All data for this chart was provided by the
administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.
For more information on each of these data sources, please see the
About the data page.
OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.
