U.S. federal budget swings to $210B surplus in April

The U.S. government earned $210.0B more than it spent in April, compared with the $244.5B surplus expected and the $236.0B deficit in March, the Treasury Department said on Friday. From a year ago, the surplus climbed 19%.

That brings the government’s fiscal 2024 year-to-date shortfall to $855.2B vs. $1.70T in the previous YTD period.

Receipts gained 22% Y/Y to $776B as tax revenue from individuals and businesses increased.

Outlays of $567B rose 23% from the year-earlier period, according to the Treasury Department, driven by elevated interest costs on U.S. debt.