Well, we now have the last few days of the filing season in the books, and there hasn’t been a notable change for the better. In fact, tax receipts for the April filing season continue to run far below last year’s levels.
As Goldman’s chief political economist Alec Phillips writes today, with “Tax Day” receipts now in the books, non-withheld receipts month-to-date are down 29%, which is below the 28% decline Goldman had been assuming in its projection that the debt limit deadline will hit in late July (which in turn was recently moved up from early August).