February Deficit Stable at $308B

Februarys U.S. federal budget deficit stands at $308 billion, mirroring last years figure, as both revenues and spending increased by $17 billion. Revenues surged by 6% to $313 billion, while spending rose by 3% to $621 billion. The Trump administrations first full month saw stronger individual income tax withholding boost revenues, but this was partially offset by higher refunds, including $7 billion more in corporate taxes and $6 billion in individual refunds from last years tax cuts. Customs duties slightly decreased to $26.6 billion, and the impact of the Supreme Courts recent ruling on tariffs remains uncertain due to lagging payments and collections.

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