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Better returns on investment help boost government tax revenues

Broadcast United News Desk
Better returns on investment help boost government tax revenues

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Most tax revenues were up from last year, but corporate tax revenues were down.

The Treasury Department said some tax revenue growth was unlikely to continue beyond this year.

Despite possible pessimism about the economy, the government’s accounts still turned out to be a pleasant surprise compared with forecasts in the May budget.

The operating balance, which excludes gains and losses, was a $7.7 billion deficit for the 11 months ended May, $1 billion less than a year earlier.

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