The Federal Government Collected Record Income Tax Revenue in 2018

The Federal Government Collected Record Income Tax Revenue in 2018

The United States’ economy continued to roar to life under President Trump and the Republican-controlled Congress in recent months; racking up a record-setting tax haul for the US Treasury in the 2018 fiscal year.

According to CNS News, “The federal government collected a record $1,683,537,000,000 in individual income taxes in fiscal 2018 (October 2017 through September 2018).”

The previous record for personal income tax was back in 2015.

The strong economic report from the United States Treasury may spell disaster for Democratic hopefuls heading into the highly-contested 2018 midterm elections.

House Minority Leader Nancy Pelosi -and potential Speaker of the House- has vowed to repeal the widely popular GOP tax cuts should her party retake control of Congress this fall.

Read the full story here.

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