Feds Set Tax Haul Record: $472B in One Month
The federal government set a record tax haul in April, taking in nearly a half-trillion dollars in one month alone, according to Congressional Budget Office statistics released Thursday.
April is always a busy month with the tax deadline on April 15, but this year’s haul was historic, totaling $472 billion, far outstripping the previous monthly record, set last April, of $414 billion.
Spending, meanwhile, was a more modest $317 billion, leaving the government with a surplus for that one month of $155 billion — also a record.
Despite that good month, the government is likely to run a deficit when the entire fiscal year is taken into account. But it will probably be smaller than last year’s deficit, and will be the lowest since President Obama took office . . .
“Receipts for the first seven months of fiscal year 2015 totaled $1,892 billion, CBO estimates — $155 billion more than receipts in the same period last year. That increase is roughly $40 billion larger than what CBO expected when it published its March 2015 report,” the nonpartisan agency said in its report. (Read more from “Feds Set Tax Haul Record: $472B in One Month” HERE)
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