Published: 2026-04-10T18:21:18.000Z
U.S. March Budget Deficit little changed yr/yr
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March’s budget deficit of $164.1bn is marginally up from $160.5bn in March 2025, a second straight month in which the deficit was little changed yr/yr, though the deficit is still slightly lower in the fiscal year to date.
Receipts increased by 4.7% yr/yr and outlays increased by 3.9%, less than receipts in percentage terms but by slightly more in USD terms. Tax cuts have reduced yr/yr growth in income tax receipts to minimal levels, up 1.8% in March after a 1.5% decline in February, though April data is key for the tax season.
Customs duties are up 171.2% yr/yr, though this is the slowest since April 2025, and the March total of $22.2bn is down from a high of $31.4bn in October 2025, with the Supreme Court ruling reducing tariff receipts.