US Treasury deficit hit $120B in June 2026 amid tariff refunds and surging interest expenses, with YTD deficit reaching $1.37Tâ3rd-highest in fiscal history.
Macro & Markets ·
The US Treasury recorded a $120 billion deficit in June 2026, compared to a $27 billion surplus in the same month the prior year, as government receipts fell $31 billion and outlays climbed $117 billion. Tariff refund payments following a Supreme Court ruling against tariff increases drove a $26 billion decline in customs duty receipts. Through the first nine months of fiscal 2026, the cumulative deficit reached $1.37 trillion, the third-highest at that point in the fiscal year historically, while net interest expense rose $78 billion year-over-year to $827 billion on pace for a record annual total.