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US Treasury's Q3 Borrowing Jumps to $1 Trillion

7/29/2025

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Summary

Story summary

The US Treasury increased its Q3 federal borrowing estimate to $1 trillion, up from $554 billion.
This adjustment follows a $5 trillion increase in the debt ceiling to rebuild cash reserves.
For Q4, the Treasury plans to borrow $590 billion, aiming for an $850 billion cash balance.
Customs revenues from tariffs are expected to rise, even with declining corporate tax revenues.

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Story summary

The US Treasury increased its Q3 federal borrowing estimate to $1 trillion, up from $554 billion.
This adjustment follows a $5 trillion increase in the debt ceiling to rebuild cash reserves.
For Q4, the Treasury plans to borrow $590 billion, aiming for an $850 billion cash balance.
Customs revenues from tariffs are expected to rise, even with declining corporate tax revenues.