How much money does the US federal government collect?
Data updated February 12, 2025
About $4.9 trillion in 2024. This is about $14,600 per person in the US, however individual contributions vary based on income, spending, and other factors. Government revenue is the total amount of money received from individual and corporate taxes, and other sources that are used to pay for government spending.
In FY 2024,
$4.9T
was collected by the federal government
In FY 2024,
$14.6K
per person on average was collected by the federal government
Federal revenue increased from $4.6 trillion in FY 2023 to $4.9 trillion in FY 2024, up 7.5%. However, it was 15.8% higher in FY 2024 than in FY 2019, prior to the COVID-19 pandemic. Revenue increased 2.4x from 1980 to 2024, while the nation’s population increased about 1.5x. Since revenue rose more than the population, this means the government is collecting more revenue per person, on average.
Federal revenue increased from $4.6 trillion in FY 2023 to $4.9 trillion in FY 2024.
Federal government revenue, adjusted for inflation (FY 2024 dollars)
The increase in revenue from 2023 was due to higher revenue from individual income taxes and corporate income taxes. Non-tax sources include Federal Reserve earnings and proceeds from selling government resources.
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The federal government has many different revenue streams. About 49% of revenue in FY 2024 was collected through individual income taxes, while 35% was through payroll taxes. Other revenue sources include customs duties, sales taxes, estate and gift taxes, and non-tax revenue.
In FY 2024, about 49%, or $2.4 trillion, of total revenue came from individual income taxes.
Federal government revenue by category in FY 2024
The federal government shares preliminary revenue data monthly. These figures help show how much the federal government is collecting in revenue for the current fiscal year. Among the top revenue categories, individual income taxes and payroll taxes, the government collected $823.31 billion and $551.15 billion, respectively, in the first 4 months of FY 2025. (The government releases finalized revenue calculations annually.)
The federal government has collected $1.6 trillion in FY 2025 so far.
Cumulative net revenue through January of each fiscal year, by revenue source
Compared to the same months in the prior fiscal year, estate and gift taxes decreased by 21%, the most of any category. Alternatively, excise taxes increased 23%, more than any other category.
Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
Office of Management and Budget and US Department of the Treasury
Budget of the US Government and Monthly Treasury Statement
US Census Bureau
Population Estimates Program
