Federal government current tax receipts represent the total quarterly revenue collected by the U.S. federal government through income tax, corporate tax, payroll tax, excise tax, estate tax, and customs duties. Rising receipts typically signal economic expansion (higher employment, profits, and incomes), while sharp declines often coincide with recessions. The optional S&P 500 overlay shows how equity market performance tracks alongside government revenue over time. Data source: FRED (Federal Reserve Bank of St. Louis), series FGRECPT (quarterly, seasonally adjusted annual rate in billions of dollars).