Treasury Collects Record $283,927,000,000 in Taxes for October

Thursday, November 11, 2021 | Tag Cloud Tags: , , , ,

by Karen Faulkner, Worthy News Correspondent

(Worthy News) –
The US Treasury has announced in its monthly Statement that it collected a record total of $283,927,000,000 in taxes for October 2021, the first month of fiscal year 2022, CNS News reports.

In regard to federal spending, on the other hand, the Treasury Statement showed expenditure was $448,983,000,000 last month, second only to October last year, when federal spending reached $554,232,780,000, CNS reports.

The amount of $283,927,000,000 collected in October this year included $143,908,000,000 in individual income taxes; $99,592,000,000 in payroll taxes; $5,586,000,000 in excise taxes; $2,458,000,000 in estate and gift taxes; $7,770,000,000 in customs duties; and $8,908,000,000 in “miscellaneous receipts,” CNS said quoting the monthly statement.

Breaking down expenditure last month, the Treasury stated it spent the most for the Department of Health and Human Services: $120,507,000,000, CNS reports.

The second-largest amount last month was allocated to the Social Security Administration: $101,055,000,000 in expenditure, CNS said. The third-largest expenditure was for the Department of Defense-Military Programs, which accounted for $65,482,000,000.

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