Tired of winning yet? CBO forecasts largest-ever monthly surplus as record tax receipts pour in

MarketWatch

The nonpartisan Congressional Budget Office estimates the April surplus will total $218 billion, breaking the prior record of nearly $190 billion notched in April 2001.

Greater-than-expected tax receipts drove the surplus, CBO said, noting the record $515 billion in receipts for the month was as much as $40 billion more than the agency estimated about a month ago.

The agency chalked up the difference to greater payments of individual income taxes in April, when tax returns and certain taxpayers’ quarterly estimated payments are due. The reasons for higher payments were twofold, CBO said.

“Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth for that year. Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018,” the agency said. The prior record for receipts was $472 billion in April 2015.

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5 Responses to Tired of winning yet? CBO forecasts largest-ever monthly surplus as record tax receipts pour in

      • lovely says:

        I believe that is the hand the democrats have been bluffing that they were holding all along, President Trump called their bluff and this is what they laid down;

        then The Donald put his cards on the table;

        Know when to hold ’em, know when to fold ’em, know when to walk away and know when to run, never count your money when you’re sitting at the the table there’ll be time enough for counting when the dealings done. __Kenny Rogers

        Stupid democrats still think people are buying their bluff.

        Liked by 2 people

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