Yes. Census data is used to distribute Congressional seats to states, to make decisions about what community services to provide, and to distribute $300 billion in Federal funds to local, state and tribal governments each year.
The U.S. Constitution (Article I, Section 2) mandates a headcount of everyone residing in the United States. The population totals determine each state's Congressional representation. The numbers also affect funding in your community and help inform decision makers about how your community is changing. View the American Fact Finder United States Census website for additional details.