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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 This material may not be published, broadcast, rewritten or redistributed.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 0 110 19,224
MORTGAGES 0 125 22,175
FORECLOSURE NOTICES 0 58 2,894
BUILDING PERMITS 0 116 39,432
BANKRUPTCIES 0 98 12,346
BUSINESS LICENSES 0 21 6,287
UTILITY CONNECTIONS 0 41 7,313
MARRIAGE LICENSES 0 35 4,396