President Donald Trump is confounding the market and saving American tax dollars.
On Wednesday, the Treasury Department said that, in April, the federal government accumulated a budget surplus of $182.4 billion — up a stunning $76.4 billion from from April 2016.
Astonishingly, this just so happens to be the biggest April surplus since a record set in 2001.
Total receipts were $455.6 billion, up 4% from April 2016. Receipts were boosted by a change in corporate tax filing deadlines from mid-March to mid-April.
Spending in the seventh month of the fiscal year was $273.2 billion, an 18% decrease from the same month last year.
April is usually a surplus month since the government receives tax payments from individuals ahead of the tax-filing deadline. The government’s budget year runs from October through September.
Through the first seven months of the year, the government is running a deficit of $344.4 billion, down 2.4% from the same period a year ago.
The Congressional Budget Office estimated earlier this year that the federal government would run a budget deficit of $559 billion in fiscal 2017, slightly smaller than last year’s deficit of $585.6 billion.
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