Revenue increases were partially offset by smaller remittances from the Federal Reserve to the Treasury.In 2017, that tax was subject to a one-year moratorium that was lifted for 2018 but reimposed for the current fiscal year. Excise taxes increased by $8 billion (or 13 percent), partly because of payments received in October for the tax on health insurance providers.Customs duties increased by $22 billion (or 77 percent), primarily because of new tariffs imposed by the Administration during the past year.Revenues from other sources increased by $8 billion (or 4 percent), mostly as a result of increased collections of customs duties and excise taxes.Payments received in June-the first month in which receipts consisted predominantly of estimated payments for tax year 2019-were up by $11 billion (or 30 percent). Corporate income taxes increased by less than $1 billion (or less than 1 percent).Unemployment insurance receipts (one kind of payroll tax) declined by $4 billion (or 10 percent).Income tax refunds were down by $20 billion (or 8 percent), further boosting net receipts.Nonwithheld payments of income and payroll taxes rose by $7 billion (or 1 percent).Those new withholding rates were in effect during the first nine months of this fiscal year but for only four and a half months of the same period last year. All employers were required to begin using the new tables by February 15, 2018. The Internal Revenue Service issued new withholding tables in January 2018 to reflect changes made by the 2017 tax act (Public Law 115-97). That change largely reflects increases in wages and salaries that were partly offset by a decline in the share of income withheld for taxes. Amounts withheld from workers’ paychecks rose by $37 billion (or 2 percent).Individual income and payroll (social insurance) taxes together rose by $60 billion (or 3 percent).That increase was the result of changes in receipts from the following sources:
Receipts totaled $2,609 billion during the first nine months of fiscal year 2019, CBO estimates-$69 billion (or 3 percent) more than during the same period last year. Total Receipts: Up by 3 Percent in the First Nine Months of Fiscal Year 2019 Revenues were $69 billion higher and outlays were $208 billion higher than during first nine months of 2018. The federal budget deficit was $746 billion for the first nine months of fiscal year 2019, CBO estimates, $139 billion more than the deficit recorded during the same period last year.
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