IRS tax revenue falls 34%
(USA TODAY) – USA TODAY reports that "federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago." That is the biggest April drop since 1981 according to a study by the American Institute for Economic Research. "Big revenue losses mean that the U.S. budget deficit may be larger than predicted this year and in future years," according to the story. The Congressional Budget Office already projects a $1.7 trillion budget deficit for fiscal year 2009.
See the story at <http://www.usatoday.com/money/perfi/taxes/2009-05-26-irs-tax-revenue-down_N.htm>
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