U.S. Government Revenues Drop in Wake of Tax Cuts

Corporations taking advantage of new, lower tax rates reduced their payments to the federal government last month. The Treasury Department on Thursday said government receipts fell 7% in June compared with the same month a year earlier, including a 33% drop in gross corporate taxes.

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By Leubsdorf, Ben; and Rubin, Richard, posted on Thursday July 12, 2018
Tax Reform
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