Federal government taxes and spending set new records through January

by Bryan Brammer · Feb 13th, 2020 1:03 pm

The U.S. federal government set new records for amount of taxes collected, as well as for the amount of money spent during the first four months of fiscal 2020, according to a monthly statement released by the U.S. Department of the Treasury.

The federal government has collected $1,178,800,000,000 in total taxes from October 2019 through January 2020.

The previous high for federal taxes collected in the first four months of a fiscal year was in fiscal 2018, when the U.S. Treasury accumulated $1,172,088,080,000.

The government also spent $1,567,985,000,000 during the same four-month period. The previous record was set during fiscal 2019 at $1,451,184,590,000.