Tariff refunds push US June budget deficit to $120 billion
SPY•Interest costs rise as fiscal-year deficit edges higher
The Treasury's gross interest outlays for public debt in June rose $41 billion, or 28%, to $185 billion, but this figure was partially offset by a $10 billion, or 17%, increase in interest received by federal trust funds to $70 billion.
For the fiscal year to date, the deficit rose $29 billion, or 2%, to $1.367 trillion. Receipts for that period were up $143 billion, or 4%, to $4.151 trillion, while outlays rose $172 billion, or 3%, to $5.518 trillion.
(Reporting by David Lawder; Editing by Paul Simao)
June deficit widens on tariff refunds and higher spending
WASHINGTON, July 13 (Reuters) - Growing refunds from President Donald Trump's illegal tariffs pushed the June federal budget deficit up to $120 billion, the U.S. Treasury Department said on Monday, marking a sharp turnaround from the $27 billion surplus in June 2025 that was due partly to his imposition of the import duties.
