Corporate Tax Payments Plunge 25% Even as Profits Boom

Corporate tax receipts have declined significantly even as company profits reach historic levels, according to data released by the Congressional Budget Office. Over the first 11 months of the fiscal year, tax payments from corporations dropped by $96 billion, falling from $390 billion in the same period during fiscal 2025 to $294 billion currently. The CBO attributed much of this decline to tax provisions included in the One Big Beautiful Bill Act that was passed in 2025.
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