The Distribution of Household Income in 2021

Congressional Budget Office

No 60341, Reports from Congressional Budget Office

Abstract: In 2021, the federal response to the economic disruption caused by the coronavirus pandemic significantly affected the distribution of household income. Means-tested transfers—which mainly benefit low-income households—were nearly as large in 2021 as in 2020, and federal taxes were lower for low-income households, largely because of temporary tax credits. Nevertheless, income inequality both before and after transfers and taxes was greater in 2021 than in 2020, largely because of a surge in realized capital gains.

JEL-codes: H20 H24 H50 J30 (search for similar items in EconPapers)
Date: 2024-09-11
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cbo.gov/system/files/2024-09/60341-income.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbo:report:60341

Access Statistics for this paper

More papers in Reports from Congressional Budget Office Contact information at EDIRC.
Bibliographic data for series maintained by (communications@cbo.gov).