April’s federal surplus fell short of forecasts, declining 16.7% year-over-year as receipts dropped and outlays rose.
The US government posted a $215 billion budget surplus in April, below the $220 billion estimate and down from $258 billion a year earlier. The decline reflects a $13 billion drop in receipts to $837 billion and a $30 billion increase in outlays to $622 billion.
Higher spending was driven by rising interest payments, defense costs, and entitlement programs. Customs receipts provided a bright spot, rising to $22.12 billion, offsetting some revenue weakness.
Year-to-date, the fiscal 2026 deficit stands at $954 billion, an improvement of $95 billion compared to the same period in fiscal 2025, suggesting modest progress in narrowing the gap.