$4,896,119,000,000: Federal Tax Collections Set Record in Fiscal 2022

Terence P. Jeffrey | October 21, 2022

(CNSNews.com) - The federal government collected a record $4,896,119,000,000 in total taxes in fiscal 2022 (October 2021 through September 2022), according to the Monthly Treasury Statement released today.   That was up $518,302,170,000—or 11.8 percent--from the previous record of $4,377,816,830,000 (in constant September 2022 dollars) that the federal government collected in fiscal 2021.   Fiscal 2015—when the federal government collected $4,052,366,920,000 in total taxes (in constant September 2022 dollars)—ranks as the third highest year for total federal tax collection.............Federal spending hit a record high of $7,471,371,670,000 (in constant September 2022 dollars) in fiscal 2020. In fiscal 2021, it dropped slightly to $7,377,360,790,000 (in constant September 2022 dollars). Then in fiscal 2022, it dropped to $6,271,508,000,000.

Despite that decline, the last three fiscal years have seen the highest spending in the nation’s history and the only years when spending (in constant September 2022 dollars) has exceeded $6 trillion............To Read More...