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VOL. 133 | NO. 139 | Friday, July 13, 2018

US Budget Deficit Totals $74.9 Billion in June

The Associated Press

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WASHINGTON (AP) — The federal government recorded a $74.9 billion deficit in June, a month when the government often runs a surplus, as corporate taxes dropped sharply compared to a year ago.

The Treasury Department reports that the June deficit pushed the imbalance so far this year to $607.1 billion, 16.1 percent higher than the same period a year ago.

The Congressional Budget Office is forecasting that the deficit for the entire budget year will total $793 billion, reflecting in part the impact of the $1.5 trillion tax cut that Congress approved in December plus increases in government spending lawmakers approved earlier this year.

Treasury's monthly report showed that revenue from corporate tax payments totaled $41 billion in June, a month when corporations make quarterly payments, down $20 billion from a year ago.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 49 123 2,388
MORTGAGES 77 171 2,778
FORECLOSURE NOTICES 14 37 528
BUILDING PERMITS 174 284 6,352
BANKRUPTCIES 32 72 1,859
BUSINESS LICENSES 26 55 1,214
UTILITY CONNECTIONS 17 43 673
MARRIAGE LICENSES 5 27 401