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

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

by Karen Faulkner, 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 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 Administration: $101,055,000,000 in expenditure, CNS said. The third-largest expenditure was for the Department of Defense- Programs, which accounted for $65,482,000,000.

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