US budget deficit hits $ 144 billion, record for month

The Treasury Department said on Wednesday that the US government had reduced its December budget deficit by $ 144 billion.

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The Treasury said the December deficit compares to a $ 13 billion deficit in December 2019 before the COVID-19 pandemic began in the United States.

Receipts for the month increased 3% to $ 346 billion from a year earlier, while outlays were up 40% to $ 490 billion.

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Personal income tax receipts were flat during December, while the Treasury recorded an increase in non-income tax income and year-end corporate tax payments.

The cumulative US deficit for the first three months of FY 2021, which began October 1, rose from $ 357 billion to $ 573 billion in the pre-epidemic pre-year period.

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Receipts for the first three months of the fiscal year were broadly flat at $ 803 billion, while outlay was up 18% at $ 1.376 trillion.

Reporting by David Lauder; Editing by Andrea Ricci

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