Thursday, June 15, 2017
The U.S. Treasury hauled in $240,418,000,000 in total taxes in the month of May, setting a record for inflation-adjusted tax revenues for that month of the year, according to the Monthly Treasury Statement released this week.Despite these record revenues, however, the federal government still ran a deficit of $88,426,000,000 in May -- because it spent $328,844,000,000 in the month.
Prior to this year, fiscal 2006 held the record for most federal taxes collected in the month of May. That year, the Treasury collected $232,837,160,000 (in constant 2017 dollars) during May.
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