00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Tariff refunds pushed the federal budget deficit to $120 billion in June, reversing a $27
00:08billion surplus a year earlier, according to Reuters.
00:11The government collected $23.6 billion in customs duties, but refunded $49.2 billion,
00:18resulting in a net outflow of $25.6 billion after the Supreme Court ruled Trump's broad
00:24tariffs illegal.
00:26Refunds totaled about $71 billion across May and June, representing 42% of the affected
00:32tariff collections.
00:33June receipts fell 6% to $496 billion, while outlays rose 23% to $616 billion.
00:42The deficit for the first nine months of fiscal 2026 rose 2% to $1.367 trillion, as spending
00:49growth exceeded higher receipts.
00:51For all things money, visit Benzinga.com.
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