Feds Collect $740,771,000,000 in Taxes in First 3 Months of FY17—But Spend $949,130,000,000 and Run $208,359,000,000 Deficit

(CNSNews.com) - The federal government collected $740,771,000,000 in taxes in the first three months of fiscal 2017 (October through December), according to the Monthly Treasury Statement released today.

But at the same time, it spent $949,130,000,000—thus running a deficit of $208,359,000,000.

The $75,731,000,000 in corporation income taxes paid by businesses in the United States in the first three months of the fiscal year was 8.6 times the $8,812,000,000 paid in customs duties on foreign imports.

The overall $740,771,000,000 in tax revenues that the Treasury collected during the October-through-December period also did not set a record for federal tax revenues in the first three months of the fiscal year.

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