Federal Income Taxes and Federal Spending Both Set Records in FY19


united states capitol worthy christian news(Worthy News) – The amount of money the federal government collected in individual income taxes and the total amount of money the federal government spent both set records in fiscal 2019, according to the Monthly Treasury Statement released Friday afternoon.

However, even while collecting a record amount in individual income taxes, the federal government still ran a deficit of $984,388,000,000 during the fiscal year.

In fiscal 2019, which began on Oct. 1, 2018 and ended on Sept. 30, 2019, the federal government collected $1,717,857,000,000 in individual income taxes, according to the Monthly Treasury Statement. [ Source: CNS News (Read More…) ]

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