President Obama’s fiscal year 2015 budget proposes to increase taxes on individuals by over $820 billion and on businesses by about $500 billion, for a total of over $1.3 trillion in new taxes over the next ten years....
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The Tax Foundation is an independent 501(c)(3) non-partisan, non-profit organization founded in 1937. We have no endowment and must raise our budget to support our programs each year. In 2012, our total revenue ($2.21 million) consisted of support from philanthropic foundations (35%), corporate contributions (34%), individual donations (16%), and events revenue (15%). No one donor contributed more than twelve percent of our budget and, as a policy, we neither solicit nor receive financial support from any government agency. Support the Tax Foundation by clicking here!
In 2012, our expenses totaled $1.90 million, of which $1.25 million (66%) were spent on programs, $0.23 million (12%) on administrative costs, and $0.42 million (22%) on fundraising costs (in which we include donor outreach costs). Our 2013 budget is approximately $2.8 million.
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