Tag Archives: excise tax

Treasury-OMB Report: Federal Budget Deficit at $779B in Fiscal 2018

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Treasury Secretary Steven Mnuchin and Mick Mulvaney, director of the Office of Management and Budget, have issued a joint statement saying the federal budget deficit reached $779B in fiscal 2018, about $113B higher than the shortfall recorded in the previous fiscal year. The FY 2018 deficit was equivalent to 3.9 percent of the U.S. gross domestic product and $70B less than the projected shortfall in the Mid-Session Review for FY 2019, according to the statement published Monday.

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CBO: Federal Budget Shortfall Rose to $668B in FY 2017

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A new Congressional Budget Office report says the federal budget deficit in fiscal year 2017 ended Sept. 30 reached $668 billion, approximately $82 billion higher than the shortfall recorded in the previous fiscal year. CBO said Friday the FY 2017 budget shortfall was equivalent to 3.5 percent of the U.S. gross domestic …

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CBO: Restoring Americans’ Healthcare Freedom Bill Would Help Lower US Budget Deficit

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Keith Hall, director of the Congressional Budget Office, has sent a letter to Senate Budget Committee Chairman Mike Enzi to discuss the results of a study on the potential budgetary effects of the proposed Restoring Americans’ Healthcare Freedom Reconciliation Act. Hall said in the letter that CBO and the Joint Committee on Taxation estimate the implementation of the …

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