WASHINGTON—The federal budget deficit grew 25% in the first four months of the fiscal year, as government spending continued to outpace rising federal tax receipts.

The U.S. budget gap totaled $389 billion from October through January, compared with $310 billion in the same period a year earlier, the U.S. Treasury Department said Wednesday. Federal outlays rose 10%, to $1.6 trillion, and federal tax receipts grew 6%, to $1.2 trillion—both record highs for the four-month period.

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