Posted on 05/10/17
| News Source: YWN
The federal government ran the second highest monthly surplus on record this April as tax revenues were pushed higher by a change in the deadline for corporate tax payments.
The Treasury Department says the surplus for April totaled $182.4 billion, the second largest surplus after a record $189.8 billion surplus set in April 2001. The government generally runs surpluses in April reflecting the annual tax deadlines. This year’s surplus was inflated because of a deadline change that allowed corporations until April to make their final tax payments for last year. The deadline had previously been March.
Through the first seven months of the current budget year, the government is running a deficit of $344.4 billion, down 2.4 percent from the same period a year ago.