Feds Collected Record Taxes in October; Still Ran $63 Billion Deficit

CNS NEWS – TERRENCE P. JEFFREY

The federal government hauled in record total tax revenues in the month of October, taking in a total of $235,341,000,000 during the first month of fiscal 2018, according to the Monthly Treasury Statement released today.

The federal government also brought in record individual income tax revenues for the month of October, taking in $127,832,000,000 in individual income taxes.

Prior to this year, the largest federal tax haul in October came in fiscal 2017 (October 2016), when the Treasury took in $226,360,090,000 in total tax revenues in constant 2017 dollars. (Dollar amounts were adjusted to constant September 2017 dollars using the Bureau of Labor Statistics inflation calculator.)

Read more at CNS News

 

Advertisements