- The Treasury Budget for April showed a surplus of $214.3 billion versus a surplus of $182.4 billion for the same period a year ago.
- That is the largest April surplus on record and it was driven by the impact of large individual tax deposits.
- Total receipts of $510.4 billion for April were $54.9 billion more than the year-ago period. Individual Income Taxes accounted for $314 billion of receipts while Social Security and Other Payroll Taxes provided $129 billion. Corporate Income Tax receipts were $42 billion while Other Taxes and Duties receipts were $25 billion.
- Receipts were increased by approximately $19 billion over last April because there was an additional day of collections in April 2018
- Total outlays in April were $296.2 billion, $23.0 billion more than the year-ago period. Outlays were led by Other expenses, which were $108 billion. The remainder of the outlays included $82 billion for Social Security, $47 billion for Defense, $35 billion for Interest on Debt, and $24 billion for Medicare.
- Approximately $45 billion in outlays had shifted into March because April 1, 2018, fell on a non-business day
- The fiscal year-to-date deficit is $385.4 billion versus $344.4 billion at the same point in fiscal 2017.
- The Treasury Budget data is not seasonally adjusted, so the April surplus cannot be compared to the $208.7 billion deficit for March.
|Deficit (-)/Surplus Fiscal YTD||-$385.4B||-$599.7B||-$391.0B||-$175.7B||-$225.0B|
|Deficit (-)/Surplus over last 12 months||-$706.9B||-$738.7B||-$706.0B||-$682.8B||-$680.8B|