The Distribution of Household Income in 2020

Congressional Budget Office

No 59509, Reports from Congressional Budget Office

Abstract: In 2020, the coronavirus pandemic and the tax and transfer policies enacted by the federal government in response had significant effects on the distribution of household income. Average income before transfers and taxes decreased by 10 percent for households in the lowest quintile and increased by 6 percent for those in the highest quintile. By contrast, average income after transfers and taxes grew by 15 percent among households in the lowest quintile and by 7 percent among those in the highest quintile.

JEL-codes: H20 H24 H50 J30 (search for similar items in EconPapers)
Date: 2023-11-14
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