Federal budget deficit reached $1 trillion in five months through February 2026 as tax revenue jumped $206 billion due to higher income tax and tariff collections, CBO data shows.

The United States' budget deficit reached $1 trillion through the first five months of the current fiscal year as uncertainty about the future of the Trump administration's tariff agenda is set to ...

The budget deficit narrowed in February at a slower pace than the previous month as US tariff revenue started to slow from the peak rate hit late last year.

Investors are growing uneasy about the potential cost of the Iran war, sending long-term government bonds lower amid concerns over how the conflict will add to pressures on budget deficits.

The Congressional Budget Office expects the U.S. federal deficit to rise more over the coming years than previously expected, a release by the agency showed Wednesday.

The state of Iowa’s spending is once again expected to exceed its revenue by about $1 billion in the next fiscal year as revenue declines due to state and federal tax cuts.

(The Center Square) – Quietly tucked inside Republicans’ funding deal to end the government shutdown is a provision wiping the congressional Pay-As-You-Go (PAYGO) scorecard, effectively forgiving ...