Federal Taxes Set Record Through July; Real Federal Spending up 47.7% From Pre-Pandemic High

Wednesday, August 11, 2021 | Tag Cloud Tags: , ,

(Worthy News) – The federal government set a new record for the amount of taxes it collected through the first ten months of fiscal 2021 (October through July), according to the Monthly Treasury Statement.

Total federal receipts were $3,318,078,000,000 for the period.

When federal tax receipts from previous fiscal years are adjusted for inflation into July 2021 dollars, the second-highest tax receipts for the October-through-July period came in fiscal 2017. That year, the federal government collected $3,055,690,570,000 in taxes (in constant July 2021 dollars) in October through July. [ Source: CNS News (Read More…) ]

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