Scott Horsley

But that didn't begin to narrow the deficit.

Corporate tax collections were lower than they would have been without the Republican tax cut and spending bill passed during the summer.

Scott Horsley, NPR News, Washington.

Tax collections were higher in October than they were a year ago, partly because that was the due date for taxpayers who got an extension last April as a result of the Los Angeles wildfires.

Government spending, however, grew even more, despite the federal shutdown, which delayed some payments last month.

One of the government's biggest expenses was interest on the federal debt, which topped $100 billion in October, more than the government spent on the military.

Tariff collections have more than quadrupled from a year ago, as importers paid $33 billion in tariffs last month.

But that didn't begin to narrow the deficit.

Corporate tax collections were lower than they would have been without the Republican tax cut and spending bill passed during the summer.

Scott Horsley, NPR News, Washington.

Investors are growing more optimistic that the Federal Reserve will lower interest rates again when policymakers meet in a couple of weeks.

Comments by prominent Fed officials in recent days suggest worries about the job market could be outweighing concerns about stubborn inflation.

That makes a rate cut more likely.

Now that air traffic controllers and TSA agents are getting paychecks again, they'll be busy this week as millions of holiday travelers take to the skies.

The FAA is forecasting its busiest Thanksgiving season in 15 years, while the TSA expects nearly 18 million people to pass through its checkpoints.

The stock market will be closed for the holiday on Thursday, and Friday's trading session will end early.

Scott Horsley, NPR News, Washington.

Investors are growing more optimistic that the Federal Reserve will lower interest rates again when policymakers meet in a couple of weeks.

Comments by prominent Fed officials in recent days suggest worries about the job market could be outweighing concerns about stubborn inflation.

That makes a rate cut more likely.