TREASURY: Corporate Tax Revenues Down As Federal Deficit Balloons 88% Higher Than Last YearQuicklink submitted by Amanda Lang Permalink
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|With the housing crisis and volatile markets slowing the economy, the Treasury Department reported yesterday that 'corporate income-tax revenue over the first seven months of the fiscal year' was 14.7 percent 'lower than during the same period a year earlier' while 'the federal deficit ballooned to $152 billion, 88 [percent] higher than the same period last fiscal year.'|
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