Can sombody explain what the sentence means :(in the US context)?

That's because the unexpected surge in tax receipts may pare the budget deficit by 39 percent to $150 billion this fiscal year, causing a relative scarcity of four-week, three-month and six-month bills

It means that tax receipts are coming in to the US Treasury faster than expected. This means that the government has more income than expected, and that the budget deficit is less than expected. The Treasury needs to borrow money in the bond market to cover its deficit. If it is borrowing less than expected, then there will be fewer government bonds to trade in the bond market, too.
a budget deficit is covered by issuing t-bills. If the actual number of bills needed is less than the expected number of bills needed then a shortage occurs until the market adjusts by increasing price just as any Supply/Demand market

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