AI Data Insight
According to the latest given data, the YoY growth rate of US government fiscal revenue in July 2026 (Q3) reached 4.565%, a significant rebound from -1.32% in the previous month, reflecting that a robust labor market drove the growth of personal income tax revenues. Although external data showed a slight single-month paper decline due to tariff refunds and calendar effects, the overall long-term trend still confirms the resilience on the revenue side. Looking ahead, even if tax revenues maintain positive growth, net interest expenses reaching up to trillions of dollars will remain the biggest hidden concern for the fiscal deficit.