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July 10, 2026 - The federal budget deficit totaled $1.4 trillion in the first nine months of fiscal year 2026, CBO estimates. That amount is $35 billion more than the deficit recorded during the same period last fiscal year. Revenues rose by $142 billion (or 4 percent), and outlays increased by $178 billion (or 3 percent).

Total Receipts: Up by 4 Percent in Fiscal Year 2026 Receipts totaled $4.2 trillion during the first nine months of fiscal year 2026, CBO estimates— $142 billion (or 4 percent) more than during the same period a year ago. Collections of individual income and payroll taxes were larger than a year ago, and changes in tariff rates led to a net increase in collections of customs duties this year. Increases in receipts were partially offset by a decline in collections of corporate income taxes.

Estimated Deficit in June 2026: $126 Billion The federal government incurred a deficit of $126 billion in June 2026, CBO estimates; a surplus of $27 billion was recorded for June 2025. Revenues were $32 billion less this June than they were the year before, and outlays increased by $122 billion. 

Full CBO Report

Source: CBO