Tag Archives: income 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 Deficit Hits $522B in First 6 Months of FY 2017

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A new Congressional Budget Office report says the federal budget deficit for the first half of fiscal 2017 reached $522 billion, approximately $63 billion higher than the agency’s shortfall estimates for the same period in FY 2016. CBO said in the report published Friday the total amount of receipts associated with corporate and individual …

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CBO: Federal Budget Deficit at $463B Over 10-Month Period

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A new Congressional Budget Office report says the budget deficit hit $463 billion for the first 10 months of the federal government’s fiscal year 2015, $2 billion up from the same period of the previous fiscal year. CBO said Friday the government’s total receipts rose by 8 percent to reach $2.7 …

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CBO: Budget Deficit at $285B After Seven Months of FY 2015

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A new Congressional Budget Office report says the federal government’s budget deficit sat at $285 million after seven months of the current fiscal year, a figure $22 billion lower from the prior year period. In a report published Thursday, CBO also says that the government’s receipts and outlays from October 2014 to April 2015 are both …

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