Federal budget deficit reached $1 trillion in five months through February 2026 as tax revenue jumped $206 billion due to higher income tax and tariff collections, CBO data shows.

For the fiscal year to date, the deficit totaled $1.004 trillion, about 12% lower than the comparable period in 2025.

Investors are growing uneasy about the potential cost of the Iran war, sending long-term government bonds lower amid concerns over how the conflict will add to pressures on budget deficits.

The Congressional Budget Office expects the U.S. federal deficit to rise more over the coming years than previously expected, a release by the agency showed Wednesday.

The U.S. budget deficit dropped to $95 billion in January. That’s a $34 billion decrease from the same month last year. The Treasury said this happened because income rose faster than spending, mostly ...

Roughly a third of the revenue boom resulted from Trump’s unprecedented, near-universal tariffs on imports. Yet more than half of the revenue increase came from rising wages and realized capital gains ...

Employees will find out April 29 if they keep their jobs, but upcoming state education budget approval could change fate ...