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U.S. sees biggest revenue surge in 44 years despite pandemic
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| Contributor | WA Indy |
| Last Edited | WA Indy Oct 12, 2021 03:29pm |
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| Category | News |
| Author | Brian Faler |
| News Date | Tuesday, October 12, 2021 09:00:00 PM UTC0:0 |
| Description | Despite a pandemic, a recession and a slew of tax cuts, federal tax receipts are booming.
Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.
That translates into $627 billion more than in 2020, according to the nonpartisan Congressional Budget Office, which estimates that, for the first time, total government revenues topped $4 trillion. |
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