Higher than the estimates
April is tax month, so the funds coming in, are typically higher than outflows.
That is indeed the case.
The US budget surplus for April is coming in at $214.3B vs $212.0B estimate.
That is also obviously higher than March which had a deficit of -$208.743. Compared to 2017, the April surplus is higher than the $182.428B.
The surplus is a record
- receipts rose 12% YoY to $510.4 billion in April
- outlays rose 8.4% YoY to $296.2 billion in April
- April surplus of $214.3 billion is the largest on record
- year-to-date deficit of $385.4 billion is higher than the $344.4 billion last year at this time
- as of April, year-to-date receipts were up 4.1% while outlays are higher by 5.3%
- treasury received $5.3 billion last month and $44.4 billion year to date in deposits of earnings by the Federal Reserve banks
With the tax cuts in effect, the tax receipts are being counted on to go higher and pay for cuts. Of course that will be reliant on growth. The administration is hoping that the growth reaches and stays above 3%.
