The United States Treasury recorded a $120 billion budget deficit for June, representing a substantial decline from the $27 billion surplus reported in June 2025. This fiscal downturn highlights a rapid shift in the government's monthly balance sheet.
Federal revenue saw a year-over-year decrease of $31 billion, bringing total government receipts down to $496 billion. The majority of this decline was driven by a sudden spike in tariff refund payments, which significantly offset incoming revenue streams.