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handle is hein.congrec/cbombfeb0001 and id is 1 raw text is: ~March 6, 2020 Monthly Budget Review for February 2020 The federal budget deficit was $625 billion for the first five months of fiscal year 2020, the Congressional Budget Office estimates, $80 billion more than the deficit recorded during the same period last year. Revenues and outlays alike were higher through February of this year-by 7 percent and 9 percent, respectively-than during the first five months of fiscal year 2019. However, outlays during the first five months of this year were boosted by shifts in the timing of certain payments that otherwise would have been due on March 1, which fell on a weekend. Those shifts increased outlays through February by $52 billion; without them, the outlay increase would have been 6 percent and the deficit for the first five months of 2020 would have been $572 billion, roughly $28 billion larger, rather than $80 billion larger, than the amount for the same period last year. Budget Totals, October-February Billions of Dollars Actual, FY 2019 Preliminary, FY 2020 Estimated Change Receipts 1,275 1.366 88 Outlays 1.523 1.991 165 Deficit (-) -544 -625 -80 Sources: Congressional Budget Office; Department of the Treasury. Based on the Monthly Treasury Statement for January 2020 and the Daily Treasury Statements for February 2020. FY = fiscal year. Total Receipts: Up by 7 Percent in the First Five Months of Fiscal Year 2020 Receipts totaled $1,366 billion during the first five months of fiscal year 2020, CBO estimates-$88 billion more than during the same period last year. The changes from last year to this year were as follows: * Individual income and payroll (social insurance) taxes together rose by $70 billion (or 6 percent). o Amounts withheld from workers' paychecks rose by $57 billion (or 6 percent), largely reflecting increases in wages and salaries. o Nonwithheld payments of income and payroll taxes rose by $8 billion (or 5 percent), increasing net receipts. The first quarterly payment of estimated individual income taxes in the current fiscal year was due by January 15. Note: The amounts shown in this report include the surplus or deficit in the Social Security trust funds and the net cash flow of the Postal Service, which are off-budget. Numbers may not sum to totals because of rounding.

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