The fiscal year in the US brought significant revenue from duties. The Ministry of Finance states that the June surplus was supported by historically the highest duties of $ 27.2 billion.
The United States’ gross revenue in June increased to a record $ 27.2 billion (€ 23.28 billion) and for the first time in a fiscal year exceeded $ 100 billion. TASR reports this based on Reuters report.
The collection of duties introduced by President Donald Trump was accelerated, which, in combination with calendar influences, led to a surplus of the federal budget for June 27 billion, the US Department of Finance said on Friday (July 11).
The revenue from duties that have grown continuously over the past three months has helped increase total budget revenues by 13 % or $ 60 billion to $ 526 billion, a new record for June. Expenditure in June fell by 7 % or $ 38 billion to $ 499 billion, the Ministry of Finance said. After adjusting the calendar influences, the budget deficit reached $ 70 billion in June.
Customs are a significant source of income
Current data has shown that duties are becoming an important source of income. Customs after the refunds have multiplied in June, with a gross reached $ 27.2 billion and $ 26.6 billion and a net. Duties in the first nine months of the fiscal year for the whole year also exceeded $ 100 billion for the first time, reaching a record $ 113.3 billion in gross and $ 108 billion in net. The fiscal year 2025 lasts from 1 October 2024 to 30 September 2025.
However, the total deficit in the course of the fiscal year 2025 has increased by 5 % or $ 64 billion to $ 1.337 trillion. The reason was the increase in spending on health care programs, social security, defense and operating debt, the Ministry of Finance said.
The budget income for the first nine months of the ongoing fiscal year increased by $ 7 % or $ 254 billion to a record $ 4.008 trillion. Expenditure increased by 6 % or $ 318 billion to a record $ 5.346 trillion.
