This is how long it will take Americans to earn enough money to pay its taxes

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CHICAGO – NOVEMBER 1: Current federal tax forms are distributed at the offices of the Internal Revenue Service November 1, 2005 in Chicago, Illinois. A presidential panel today recommended a complete overhaul of virtually every tax law for individuals and businesses. (Photo Illustration by Scott Olson/Getty Images)

The Tax Foundation released its annual Tax Freedom Day report on Tuesday.

Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. This includes all federal, state, local, and other individual taxes.

According to the Tax Foundation, April 16 was the nation’s tax freedom day in 2019. Americans will spend more $3.4 trillion in federal taxes and $1.8 trillion in state and local taxes. The Tax Foundation says the total bill amounts to $5.2 trillion, or 29 percent of the nation’s income.

Last year, Tax Freedom Day was also on April 16. 

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