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24.05 - 13:05
Federal Surplus Reaches Record in April as Taxes, Other Revenue Nearly Double
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WASHINGTON—Federal revenue almost doubled in April compared with a year earlier, reaching a record and driving a monthly government surplus of $308 billion, which Treasury officials said also set a record for the largest monthly surplus.
Government revenue from taxes and other receipts for the month rose by 97% from a year earlier to $864 billion, not adjusting for calendar differences, the Treasury Department reported Wednesday. Federal outlays in April fell by 16% to $555 billion, the Treasury said, reflecting a decline in pandemic-related spending.
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