Under Republican Leadership, Federal Government Reduces Deficit, Year Over Year
WASHINGTON, D.C. – This week, the Congressional Budget Office (CBO) published its monthly budget review which estimated the federal budget deficit totaled $1.2 trillion in the first half of fiscal year 2026. That amount is $139 billion less than the deficit recorded during the same period last fiscal year. House Budget Chairman Jodey Arrington (R-Texas) released the following statement:
"The non-partisan CBO recently did a comparison of the first six months of last fiscal year (FY25) with the first six months of this fiscal year (FY26). The report showed that the combination of savings from cutting bureaucratic waste and increased revenue from tariffs helped lower the deficit by $139b, which is over 10%. If we continue cutting waste and fraud from the federal government as well as incentivizing economic growth, we will stabilize the debt and put our nation on a credible path to balance going to 3% deficit-to-GDP from 6% over the next several years."
