CBO Increases 2016 Deficit Forecast to $590B
The agency is projecting lower-than-expected tax revenue, with most of the drag coming from falling corporate profits.
Income Gap a ‘Macroeconomic Problem’ for States, S&P Says
Income inequality is hurting U.S. states that rely heavily on revenues generated from taxes on personal income and consumption.
Lower Corporate Tax Receipts Boost U.S. Deficit Estimate
The CBO ups its federal deficit forecast because of lower than expected corporate tax revenues.