Washington (United States) (AFP) – The US budget deficit remained virtually stable during the first three months of 2026, as increased revenue — primarily from income taxes and customs duties — offset an acceleration in spending. Between January and March, the deficit stood at $164 billion, $4 billion higher than in the same period a year earlier, according to data released Friday by the Treasury Department. In the United States, these months constitute the second quarter of the 2026 fiscal year.
Over the first six months of this staggered fiscal year, the deficit fell by 11 percent, or $139 billion, thanks to the increase in revenue that occurred between October and December due to customs duties. However, the Supreme Court struck down a significant portion of these duties earlier this year, which is expected to require the Treasury to reimburse companies for the surcharges collected. Several lawsuits have been filed by companies in response, which could eventually weigh on the federal budget.
For now, revenue rose over the quarter thanks to a 7 percent increase in income tax revenue, amounting to $26 billion.
© 2024 AFP
