Disappointed this tax season? So is the federal government.
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English - May 15, 2023 22:36 - 28 minutes - 11.8 MB - ★★★★★ - 7.7K ratingsBusiness Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: The FDIC is asking big banks to pay up
Next Episode: Maybe reconsider those “normal” economic indicators
So far this fiscal year, the IRS has brought in about $2.7 trillion in tax revenue — $250 billion less than anticipated. That shortfall is part of what makes this week’s debt limit talks so urgent. Today, we sort through the tax receipts. Plus, why clawing back unspent COVID funds will hardly dent the deficit and why the banking bust may fuel the rise of “shadow banks.”