Transition Series:

Revenue Options

OCG-89-3TR: Published: Nov 1, 1988. Publicly Released: Nov 1, 1988.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO summarized issues relating to revenue options proposed to address the budget deficit.

GAO noted that revenue options include: (1) raising income tax rates; (2) broadening the income tax base; (3) enacting a new consumption tax; (4) increasing revenue from federal excise taxes; (5) increasing Internal Revenue Service enforcement of tax laws; and (6) increasing non-tax revenue sources. GAO believes that, since each option has both advantages and drawbacks, Congress and the administration should consider a combination of the options to reduce the federal deficit.

Jan 13, 2021

Dec 16, 2020

Dec 9, 2020

Dec 3, 2020

Nov 30, 2020

Nov 24, 2020

Nov 23, 2020

Nov 18, 2020

Oct 7, 2020

Looking for more? Browse all our products here