U.S. sees biggest revenue surge in 44 years despite pandemic

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Despite a pandemic, a recession and a slew of tax cuts, federal tax receipts are booming.

Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.

That translates into $627 billion more than in 2020, according to the nonpartisan Congressional Budget Office, which estimates that, for the first time, total government revenues topped $4 trillion.

“They are just booming,” said Mark Booth, a former top revenue forecaster

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