Published: 2025-07-11T18:26:16.000Z
U.S. Budget records a rare surplus in June
Senior Economist , North America
3
June saw a budget surplus of $27.0bn, contrasting a deficit of $71.0bn in June 2024, and the first surplus in June since 2016. Receipts were up 12.9% yr/yr while outlays fell by 7.0%.
The receipts increase was led by individual income tax, up by 27.7% or by $51.3bn. Corporate income tax fell by 16.3% from a year ago. Customs duties surged by 321.2%, though the yr/yr increase of $20.3bn means that a budget surplus would have been seen even without the rise in customs revenues. The big fall in spending was in education and social, by $78.7bn or by 87.9% yr/yr. Overall spending fell by $37.8bn.
