US Government Plans to Borrow More This Quarter Amid Disappointing Tax Receipts

Published on April 30, 2024

The U.S. government plans to borrow more cash from private investors this quarter than initially forecast amid less-than-expected tax receipts, the Treasury Department said on Monday. According to the department’s latest Treasury Refunding Announcement, Washington anticipates borrowing $243 billion in the April-June period. This is $41 billion higher than officials projected at the beginning of the year and much greater than market forecasts. Treasury officials stated that the federal government’s tax receipts have fallen short of forecasts so far this fiscal year. The Treasury does not share its forecasts for tax revenues with the public. For the January-March quarter, the Treasury borrowed $748 billion in private marketable debt, slightly under the first estimate of $760 billion. This was mainly due to lower federal outlays....

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