Updated: 13-Jan-26 14:37 ET
Key Factors
- Individual Income Taxes were the largest source of receipts in December ($242 billion), followed by Social Insurance & Retirement Receipts ($143 billion). Corporate income taxes brought in $59 billion. Customs Duties brought in $28 billion, bringing the fiscal year-to-date total to $90 billion.
- The largest outlays by function were Social Security ($134 billion), National Defense ($102 billion), Net Interest ($92 billion), and Health ($92 billion).
- The fiscal year-to-date deficit is $602.4 billion versus $710.9 billion in the same period a year ago.
- The budget deficit over the last 12 months is $1.667 trillion versus $1.609 trillion in November.
- The key takeaway from the report is that the fiscal year-to-date deficit remains high, yet it is more than $100 billion less than the same period a year ago when tariff revenues weren't upsized by the president's tariff plan.
| Category | DEC | NOV | OCT | SEP | AUG |
| Deficit (-)/Surplus | -$144.7B | -$173.3B | -$284.4B | $198.0B | -$344.8B |
| Deficit (-)/Surplus Fiscal YTD | -$602.3B | -$457.7B | -$284.4B | -$1775.0B | -$1973.3B |
| Deficit (-)/Surplus over last 12 months | -$1666.8B | -$1609.0B | -$1802.3B | -$1775.0B | -$1893.0B |
