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sapling.com
What Is Federal Non Tax Debt? | Sapling
A non-tax federal debt is debt that an individual owes to the federal government other than taxes, according to the Internal Revenue Service. A federal student loan represents an example of a non-tax federal debt.
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Taxes are how we fund government spending, but tax revenue is currently not keeping up with federal spending. In fact, by 2027, revenue will only be sufficient to cover mandatory spending, namely Social Security, Medicare, Medicaid, and interest on the debt. Taxes need to be a part of the discussion on how to fix the debt. | Fix the Debt
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