June federal budget deficit hits $120 billion following tariff refunds
The US Treasury Department reported that the federal budget deficit climbed to $120 billion in June, largely driven by the repayment of tariffs implemented by former President Donald Trump. In February, the US Supreme Court ruled these tariffs illegal, stating they violated the International Emergency Economic Powers Act and overstepped Congress' constitutional authority. The total value of the tariffs slated for refund is $166 billion.
by shortkt.com✓