US Government Budget Surplus Highest on Record for April


The US government budget surplus increased to USD 214.25 billion in April of 2018 from USD 182.43 billion in the same month of the previous year. It is the biggest surplus ever for an April month. Figures came better than market expectations of a USD 193.8 billion surplus amid a rise in individual income tax receipts. Also, April 2018 had an additional day of collections. In addition, outlays for Military active duty and retirement, Veterans’ benefits, Supplemental Security Income, and Medicare payments and prescription drug plans accelerated into March, because April 1, 2018, the normal payment date, fell on a non-business day.

In April, receipts jumped 12 percent year-on-year to USD 510 billion as individual income taxes accounted for USD 314 billion; social security taxes for USD 129 billion; corporate income taxes for USD 42 billion and other taxes and duties for USD 25 billion.
 
Outlays rose 8 percent to USD 296 billion as other expenses accounted for USD 108 billion; social security for USD 82 billion; defense for USD 47 billion; interest on debt for USD 35 billion; and Medicare for USD 24 billion.
 
When accounting for calendar adjustments, the government's surplus was USD 150 billion, higher than USD 140 billion in the same month in the previous year.

US Government Budget Surplus Highest on Record for April


US Treasury | Joana Taborda | joana.taborda@tradingeconomics.com
5/10/2018 6:19:47 PM