April was best month in history for U.S. budget, according to CBO figures
The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks ? and this more to pay to Uncle Sam.
All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.
CBO analysts were surprised by the surplus, which was some $40 billion more than they?d guessed at less than a month ago.
Analysts said they?ll have a better idea of what?s behind the surge as more information rolls in, but for now said
it looks like individual taxpayers are paying more because they have higher incomes.
But this year was particularly strong, with receipts jumping 13 percent compared to a year ago.
The news couldn?t come at a better time for President Trump and congressional Republicans, who were facing major questions about the damage last year?s tax-cut package might do to future deficits. Just a month ago the CBO projected that the deficit would quickly soar back to $1 trillion a year.
https://www.washingtontimes.com/news/2018/may/7/cbo-says-april-was-best-month-history-us-budget/
