U.S. Treasury Secretary Scott Bessent stated that tariff revenue would remain virtually unchanged this year and beyond, hovering around $175 billion, despite a Supreme Court ruling that invalidated emergency tariff powers under the IEEPA law. The Committee for a Responsible Federal Budget, an independent fiscal watchdog, estimates this decision could create a revenue shortfall of $1.9 trillion for public finances by 2036. The federal deficit stood at $1.78 trillion for fiscal year 2025, down approximately 2%, with the government targeting a deficit-to-GDP ratio trending toward values beginning with the number three. Bessent’s team projects tariff collections could eventually reach $500 billion annually.
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