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Federal Government Makes Record $213,300,000,000 in Income Taxes First 2 Months of Fiscal Year 2017


Last Minute Tax Filers Rush To Send Out Returns
Getty - David McNew/Staff
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Happy times are here again? For the federal government, it's complicated.

In October and November, the first two months of the 2017 fiscal year, individuals forked over a record amount of income tax payments to the federal government. However, according to CNS News, receipts from other forms of taxation, such as corporate income taxes, excise taxes, Social Security taxes, and import customs duties, all were lower over last year's receipts.

The Treasury Department's monthly statement shows that total collected taxes totaled $422 billion in October and November, but that the government spent $602 billion, leaving a deficit of $181 billion.

Image Credit: Screenshot/Treasury.gov

At the last minute, the House and Senate voted to pass a Continuing Resolution to fund the government until April 28, 2017.

That CR keeps current agencies funded at 2016 levels, but increases some military spending and adds spending for disaster relief, drug and medical research, and relief for victims of the Flint, Michigan, water crisis, according to a post at the American Society of Military Comptrollers.

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