$318,576,000,000: Federal Tax Collections Set Record in October

The federal government collected a record $318,576,000,000 in total taxes in October, the first month of fiscal 2023, according to the Monthly Treasury Statement released today.

The Treasury set the previous record for October tax collections last year, when it brought in $305,918,360,000 in total taxes in constant October 2022 dollars.

This year’s record October tax receipts of $318,576,000,000 were up $12,657,640,000—or 4.1 percent—from last year’s record of $305,918,360,000.

At the same time the federal government was collecting this $318,576,000,000 in record taxes for the month of October, the federal government...