WASHINGTON — U.S. Secretary of the Treasury Janet L. Yellen and Office of Management and Budget (OMB) Director Shalanda D. Young today released the final budget results for fiscal year (FY) 2023.
After atypically strong growth in revenues in 2022, driven by record-high capital gains receipts and the historic recovery from the pandemic, revenues in 2023 fell to 16.5 percent of gross domestic product (GDP), with individual and corporate receipts returning to lower levels in line with ...
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