Treasury General Account

The Treasury General Account (TGA) is an account maintained by the United States Department of the Treasury at the Federal Reserve. It receives tax payments and proceeds from the auction of Treasury securities, and disburses government payments to individuals and businesses. Aside from its cash flow duties, it is also held to protect the Treasury from running out of money if Congress delays raising the debt ceiling. The TGA is often described as the government's "checking account". As of 1 February 2024, the current balance of the account is $813 billion.