Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January
(CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.
January was the first month under the new tax law that President Donald Trump signed in December.
During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.But the year began at deep deficit, so while this is good news, it is not the end of the rainbow. We ar will still have a projected year-end deficit of $176 billion.
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