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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 This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 79 396 11,921
MORTGAGES 90 443 13,870
FORECLOSURE NOTICES 10 70 1,928
BUILDING PERMITS 191 975 25,139
BANKRUPTCIES 56 289 7,762
BUSINESS LICENSES 23 184 4,083
UTILITY CONNECTIONS 22 166 4,847
MARRIAGE LICENSES 16 81 2,625

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