U.S. April Budget Surplus Rises To $157 Billion

The federal government ran a budget surplus of $157 billion in April, the Treasury Department said Tuesday. That's an increase of $50 billion from last April. Receipts in April totaled $472 billion, up $58 billion or 14% from last April. Most of the increase in receipts was from individuals' taxes including income and payroll taxes. The government spent $315 billion in April, $8 billion or 3% more than a year ago. For the fiscal year to date, the government's budget deficit is $283 billion, 8% smaller than the first seven months of fiscal 2014. April is usually a surplus month since the government receives tax payments from individuals ahead of the tax-filing deadline. The federal government's budget year runs from October through September.