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US records biggest budget surplus in 7 years

1 year 8 months 6 days ago May 12, 2015 May 12, 2015 Tuesday, May 12 2015 May 12, 2015 1:18 PM in News
Source: Associated Press

WASHINGTON - The Treasury Department says a flood of tax payments pushed government receipts up to an all-time high in April and left the country with the largest monthly budget surplus in seven years.

The department's budget report put the April surplus at $156.7 billion, up from a surplus of $106.9 billion a year earlier. It was the largest surplus since April 2008.

Government receipts totaled $471.8 billion, the largest monthly total on record.

Receipts for the first seven months of the budget came to $1.89 trillion, the biggest seven-month total ever. Tax receipts have climbed thanks to an improving economy, which has boosted individual and corporate tax payments.

Through the first seven months of the budget year, the deficit totals $282.8 billion, 7.7 percent below last year.

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