WASHINGTON, May 12 (Reuters) - The U.S. government posted a
$226 billion budget deficit in April, a drop of $512 billion or
69% from the gap in April 2020, the first full month of
COVID-19 lockdowns, as pandemic-related outlays fell and
revenues rose sharply.
The Treasury Department said that the deficit for the first
seven months of fiscal 2021 still hit a new record of $1.932
trillion, a 30% increase from the same period of fiscal 2020.
April receipts rose 82% from a year earlier to $439 billion,
but the increase is partly due to last year's deferral of income
tax payments to July. The Treasury deferred tax payments this
year by only one month, until May 17, with no deferral for
April outlays were $665 billion, a decrease of 32% from
April 2020, as that month contained the bulk of payments to
individuals in the first round of coronavirus rescue aid.
Payments under President Joe Biden's stimulus plan this year
were mainly sent in March.
Year-to-date receipts for fiscal 2021 totaled $2.143
trillion, up 16% from the year-ago period, while year-to-date
outlays totaled $4.075 trillion, up 22%.
(Reporting by David Lawder; Editing by Andrea Ricci)