Home Featured Federal Budget Deficit Shrank in July, CBO Says

Federal Budget Deficit Shrank in July, CBO Says

by Bioreports
19 views
federal-budget-deficit-shrank-in-july,-cbo-says

WASHINGTON—The federal budget deficit shrank last month from a year earlier as households and businesses made tax payments that had been delayed from April, the Congressional Budget Office estimated.

The CBO on Monday said the budget gap last month totaled $61 billion, compared with $120 billion in July 2019, as revenue jumped. The Internal Revenue Service pushed back the April 15 tax-payment deadline in an effort to keep more cash in Americans’ wallets in the early weeks of the coronavirus pandemic.

You may also like

Leave a Comment