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What is the Federal Social Insurance Tax Revenue?

In FY 2026, federal social insurance tax revenue was $1,812 billion according to the Office of Management and Budget. Social Security related taxes amounted to $1,341 billion and Medicare Hospital Insurance Tax was $406 billion.

Budgeted federal social insurance tax revenue for FY 2027 is $1,935 billion.

Federal Social Insurance Tax Analysis

 

This page shows the current trends in US Federal social insurance tax revenue. There are also charts on US Federal social insurance tax revenue history.

Recent US Federal Social Insurance Tax Revenue

Recent Social Insurance Tax Revenue

Chart R.21f: Recent Social Insurance Tax Revenue

Federal social insurance tax revenue was increasing in the mid 2000s, peaking at $0.89 trillion in 2008. But social insurance tax collections declined modestly to $0.81 trillion by FY 2011. Federal social insurance tax increased steadily to $1.3 trillion in FY2021, and then increased sharply.

Federal social insurance tax revenue for 2026 was $1.8 trillion.

Recent Social Insurance Tax as Pct GDP

Chart R.22f: Recent Social Insurance Tax as Pct GDP

Viewed from a GDP perspective, federal social insurance tax revenue has been pegging along between 5.5 and 6 percent GDP, with a drop to 5.1 percent GDP in FY2011.

Federal social insurance tax revenue for 2026 was 5.9 percent GDP.

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Recent Federal Social Insurance Taxes

Recent Federal Social Insurance Taxes

Chart R.23f: Recent Federal Social Insurance Taxes

Social insurance tax collections were a little over 6 percent of GDP in 1990, and, with declines in recessions, have shown a consistent mild decline since, with 5.8 percent GDP in 2024.

Old Age Survivor Insurance started at 4.2 percent GDP and ended at 3.5 percent GDP. Disability Insurance has been about 0.5 percent GDP. Hospital Insurance has been about 1.2 percent GDP. Unemployment insurance has been about 0.2 to 0.3 percent GDP.

US Federal Social Insurance Taxes Since 1920

Recent Social Insurance Taxes since 1920

Chart R.24f: Recent Social Insurance Taxes since 1920

Collection of federal social insurance taxes began in the 1930s, with the creation of Social Security and unemployment insurance. Starting in 1936, collections for Old Age Survivor Insurance increased steadily, hitting 1 percent GDP in 1953, 2 percent GDP in 1963, 3 percent GDP in 1974, and peaking 4.3 percent GDP in 1991.

Disability Insurance collections began in 1957, reached 0.5 percent GDP in 1978, and broke through 0.8 percent GDP in 2017, and declining to 0.62 percent GDP in 2024.

Collections for Hospital Insurance for Medicare started in 1966 and broke through 0.5 percent GDP in 1073 and 1.0 percent GDP in 1981. Hospital Insurance peaked at 1.4 percent GDP in 2001, and since then has collected between 1.2 and 1.3 percent GDP.

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Revenue Data Sources

Revenue data is from official government sources.

Gross Domestic Product data comes from US Bureau of Economic Analysis and measuringworth.com.

Detailed table of revenue data sources here.

Federal revenue data begins in 1792.

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State and local revenue data for individual states begins in 1957.

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Data Sources for 2015_2031:

Sources for 2015:

GDP, GO: GDP, GO Sources
Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances

Sources for 2031:

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Federal: Fed. Budget: Hist. Tables 3.2, 5.1, 7.1
State and Local: State and Local Gov. Finances
'Guesstimated' by projecting the latest change in reported spending forward to future years

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US Budget Deficit, Receipts, Outlays for FY 2026

On October 15, 2026, the US Treasury reported in its Monthly Treasury Statement (and xlsx) for September that the federal deficit for FY 2025 ending September 30, 2026, was $1,99 billion. Here are the numbers, including total receipts, total outlays, and deficit compared with the numbers projected in the FY 2026 federal budget published in February 2025:

Federal Finances
FY 2026 Outcomes
Budget
billions
Outcome
billions
Receipts $5,873    $5,403
Outlays$7,419$7,396
Deficit$1,547$1,993

The Monthly Treasury Statement includes "Table 4: Receipts of the United States Government, September 2026 and Other Periods." This table of receipts by source is used for usgovernmentspending.com to post details of federal receipt actuals for FY 2025. usdgovernmentspending.com obtains the data for outlays and receipts from apis at fiscaldata.treasury.gov.


This MTS report on FY 2026 actuals is a problem for usgovernmentspending.com because this site uses Historical Table 3.2--Outlays by Function and Subfunction from the Budget of the United States as its basic source for federal subfunction outlays. But the Monthly Treasury Statement only includes "Table 9. Summary of Receipts by Source, and Outlays by Function of the U.S. Government, September 2025 and Other Periods". Subfunction amounts don't get reported until the FY28 budget in February 2027. Until then usgovernmentspending.com estimates actual outlays by "subfunction" for FY 2026 by factoring subfunction budgeted amounts for FY26 by the ratio between relevant actual and budgeted "function" amounts where actual outlays by subfunction cannot be gleaned from the Monthly Treasury Statement.

Final detailed FY 2026 actuals will not appear on usgovernmentspending.com until the FY 2028 federal budget is published in February 2027 with the actual outlays for FY 2026* in Historical Table 3.2--Outlays by Function and Subfunction.
State and Local Finances for 2024
On August 7, 2026 we updated the state and local spending and revenue for FY 2024 using the new Census Bureau ...

State and Local Finances for 2024 -- First Look
On July 2, 2026 we updated the state and local spending and revenue for FY 2024 using the new Census Bureau S ...

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