The average American family spent more money on taxes in 2016 than they did on food and clothing, according to a new analysis.
CNSNews.com cites a recent Bureau of Labor Statistics study that showed the following:
- American households spent an average of $10,489 on local, state, and federal taxes last year.
- They spent $7,203 on food and $1,803 on clothing in 2016.
- The average tax bill increased from $7,423 in 2013 to $10,489 in 2016.
- The only household expense higher than taxes last year was housing, which averaged $18,886. That figure includes mortgage and rent payments, utilities, and other related costs.
President Donald Trump discussed his vision for reforming the nation’s tax system during a speech in Missouri on Wednesday.
“I am fully committed to working with Congress to get this job done. And I don’t want to be disappointed by Congress.”