Washington, April 19 (Bloomberg) -- The U.S. government todayreported a wider budget deficit in March than a year earlier as slowereconomic growth caused corporate and personal tax collections tofall.
The shortfall grew to $50.7 billion from $35.4 billion in March 2000,according to the Treasury's budget statement. While governmentoutlays typically exceed revenue in March, the difference was morethan the $44.2 billion analysts had expected.
``When you have more job cuts, the Treasury loses moneyaccordingly,'' said Astrid Adolfson, an economist at MCMMoneywatch in New York. ``In April, we may not be getting the taxbonanza everybody is hoping for.''
Today's numbers may add fuel to the debate over whether surpluseswill be large enough to allow the 10-year, $1.6 trillion tax cut soughtby President George W. Bush. He says a cut will stimulate theeconomy.
The U.S. is still likely to post a surplus in 2001, the fourth in a row,even though there is a deficit now.
Since the current fiscal year began in October 2000, the Treasury hasaccumulated a budget deficit of $24.8 billion, today's report showed.That compares with a deficit of $35.2 billion for the first half of fiscal2000.
In March, tax revenue, fees and other income fell 4.1 percent to$130.1 billion from a year earlier, the Treasury reported today. Federalspending rose 5.7 percent last month to $180.7 billion from a yearearlier.
Tax Payments Decline
Individual tax payments declined 25 percent in March, to $33.6 billion,from a year earlier. Corporate tax revenue dropped 8.8 percent to$22.1 billion.
Slower growth has trimmed corporate profits and corporate taxpayments. Declines in stock values are likely to reduce capital gains.
More than 870 companies, a record, warned investors that earnings inthe first three months of the year would miss expectations, accordingto First Call/Thomson Financial.
За 2000 г. Казначейство США доложило о рекордномпервичном профиците бюджета величиной 236,7 млрд.долл. С этого момента ситуация перестала развиваться встоль положительном ключе, однако по мнениюАдминистрации США она остается хорошей. На следующейнеделе в Сенате вновь будет обсуждаться налоговый"план Буша" и как полагает О'Нил, проблем не будет.