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Deficit shrinks with record monthly surplus

1 year 5 months 1 week ago May 12, 2015 May 12, 2015 Tuesday, May 12 2015 May 12, 2015 7:48 PM in News
Source: Associated Press
By: Michael Marsh

WASHINGTON- A flood of tax payments in April left the country with the largest monthly budget surplus in seven years according to the Treasury Department.

Government receipts were $471.8 billion, the largest monthly total on record and the largest surplus since April of 2008. Tax receipts have climbed due to a better economy, which boosted both individual and corporate tax payments.

Now the overall budget deficit is almost eight-percent below last year's at $282.8 billion.

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