The analysis below has been updated based on our understanding of the final changes to the Senate-passed bill; our estimates ...

President Donald Trump’s big bill making its way through Congress will cut taxes by $3.75 trillion but also increase deficits by ... would reduce federal outlays, or spending, by nearly $1.3 trillion ...

The CBO last year said receipts were $1.5 trillion or 5.6% greater than predicted, in large part because of the “burst of inflation” during the COVID-19 pandemic in 2021.

After running a short-lived surplus in April thanks to tax season receipts, the deficit totaled just more than $316 billion for the month, taking the year-to-date total to $1.365 trillion. Surging ...

How Trump’s $3.7 trillion tax cut bill impacts deficits, spending, and federal programs, as revealed in the CBO’s latest analysis.

The United States Treasury confirmed Wednesday that the federal budget deficit for May hit $316 billion, placing it among the ...