Key Figures

Chief of State:
President Joseph R. Biden Jr.
Head of Government:
President Joseph R. Biden Jr.

Overview

Government Name:
United States of America
Constitution:
Founded: 1787, is the supreme law of the United States that addresses separation of powers into three branches, explains federalism, relationships between states as well as a bill of rights.
Government Type:
Federal Republic
United States of America Flag
Coat of Arms of United States of America

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2019)

Country Risk Rating

A3
Changes in generally good but somewhat volatile political and economic environment can affect corporate payment behavior. A basically secure business environment can nonetheless give rise to occasional difficulties for companies. Corporate default probability is quite acceptable on average. Source: Coface (2020)

Government Branches

Main Powers Election Process Election Cycle 1
Executive

Led by the president, ensures the execution of the US laws.

Elected by an electoral college.

4 years

Judicial

System of the courts, interprets and applies laws.

Appointed by executive branch.

Life appointment

Legislative

Power to pass, amend and repeal laws, ability to raise or lower taxes, create budgets and other money bills.

Senate 100 members are elected by plurality vote, and House of Representatives 435 members are elected by plurality vote.

Senate: 6 years; House of Representatives: 2 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
Internal Revenue Service
Tax Name:
Sales taxes and complementary use taxes are imposed and administered at the state (subnational) and local (substate) levels.

Sources:

  1. ElectionGuide http://www.electionguide.org/
  2. EY, http://www.ey.com
  3. CIA World Factbook, https://www.cia.gov/the-world-factbook/
  4. U.S. Bilateral Relations Fact Sheets http://www.state.gov/r/pa/ei/bgn/