1999 United States federal budget
From Wikipedia, the free encyclopedia
SubmittedFebruary 2, 1998 [1]
Submitted byBill Clinton
Submitted to105th Congress
CountryUnited States of America
| Submitted | February 2, 1998 [1] |
|---|---|
| Submitted by | Bill Clinton |
| Submitted to | 105th Congress |
| Country | United States of America |
| Total revenue | $1.74 trillion (requested)[2] $1.83 trillion (actual)[3] 19.2% of GDP (actual)[4] |
| Total expenditures | $1.73 trillion (requested)[5] $1.7 trillion (actual)[6] 17.9% of GDP (actual)[4] |
| Surplus | $126 billion (actual)[6] 1.3% of GDP (actual)[4] |
| Debt | $5.606 trillion (at fiscal end) 58.9% of GDP[7] |
| GDP | $9.51 trillion[4] |
| Website | Office of Management and Budget |
|
‹ 1998 2000› | |
The Budget of the United States Government Fiscal Year 1999
The United States Federal Budget for Fiscal Year 1999[8] (FY99) was a spending request by President Bill Clinton to fund government operations for October 1998–September 1999. It was the first balanced Federal budget in 30 years.[9][10][11] In FY99, revenues were 1.82 trillion dollars. Spending was 1.70 trillion dollars, the surplus was $124 billion, and the GDP was 9.2 trillion.
1999 Actual Receipts by Source
- Individual income tax (48.1%)
- Social Security/other payroll tax (33.5%)
- Corporate income tax (10.1%)
- Excise tax (3.80%)
- Estate and gift taxes (1.50%)
- Customs duties (1.00%)
- Other miscellaneous receipts (1.90%)
(in billions of dollars)
| Source | Requested[2] | Actual[3] |
|---|---|---|
| Individual income tax | 791 | 879 |
| Corporate income tax | 198 | 185 |
| Social Security and other payroll tax | 596 | 612 |
| Excise tax | 72 | 70 |
| Estate and gift taxes | 21 | 28 |
| Customs duties | 18 | 18 |
| Other miscellaneous receipts | 47 | 35 |
| Total | 1,743 | 1,827 |