Federal Revenue, over time
What was happening
1Dot-com stocks peakMar 10, 2000
Technology stocks peak and then fall sharply through 2002. The Federal Reserve has linked the 2001 recession largely to the end of the dot-com boom. Source: Federal Reserve Board (Bernanke, 2010) ↗
22001 recessionMar–Nov 2001
An eight-month recession by NBER dates. The Federal Reserve has traced it largely to the end of the dot-com boom and the sharp fall in stock prices. Source: National Bureau of Economic Research ↗
3Great RecessionDec 2007–Jun 2009
An 18-month recession by NBER dates, the longest since World War II, following the collapse of the housing market and a financial crisis. Source: National Bureau of Economic Research ↗
4Tax Cuts and Jobs Act signedDec 22, 2017
Cuts the corporate tax rate from 35% to 21% and lowers individual income tax rates. Source: Congress.gov (H.R. 1, 115th Congress) ↗
5COVID-19 recessionFeb–Apr 2020
The shortest recession on record by NBER dates: two months, February to April 2020. Source: National Bureau of Economic Research ↗
U.S. Department of the Treasury · Monthly Treasury Statement, Table 1; OMB Historical Tables, Table 1.1 (before FY2015) · Monthly (12-month total); fiscal years before 2015 · Original source