In April, the federal government ran a surplus of $215.024 billion. From the beginning of the fiscal year to April, deficits were $953.569 billion.
This means 22.31 percent of outlays in FY2026 were not paid for by revenues, and for every dollar the federal government received in revenue, it spent $1.29.
In the comparable fiscal year to date in FY2025, total federal deficits were $1.049 trillion, which means the total deficit in the current fiscal year to date period is 9.07 percent lower than in the same period last fiscal year.
In FY2025, deficits were $1.776 trillion.
The most recent 10-year budget projection from the CBO forecasts that total deficits will be $1.853 trillion in FY2026, $1.887 trillion in FY2027, and $2.080 trillion in FY2028.
In April, total federal net outlays were $622.316 billion. From the beginning of the fiscal year to April, net outlays were $4.274 trillion.
In the comparable fiscal year to date in FY2025, total federal net outlays were $4.159 trillion, which means the net outlays total in the current fiscal year to date period is 2.75 percent higher than in the same period last fiscal year.
In FY2025, net outlays were $7.010 trillion.
The most recent 10-year budget projection from the CBO forecasts that total net outlays will be $7.449 trillion in FY2026, $7.772 trillion in FY2027, and $8.151 trillion in FY2028.
| Outlay category | Apr 2026 | FY2026 to date | FY2025 to date | FY2025 | Last 12 months |
|---|---|---|---|---|---|
| Social Security |
$139.43B (22.4%) |
$956.99B (22.4%) |
$907.35B (21.8%) |
$1,580.69B (22.5%) |
$1,630.33B (22.9%) |
| Income Security and Veterans Benefits |
$101.90B (16.4%) |
$680.59B (15.9%) |
$661.48B (15.9%) |
$1,078.74B (15.4%) |
$1,097.86B (15.4%) |
| Net Interest |
$96.56B (15.5%) |
$615.75B (14.4%) |
$578.69B (13.9%) |
$970.66B (13.8%) |
$1,007.72B (14.1%) |
| Medicare |
$87.73B (14.1%) |
$589.96B (13.8%) |
$550.48B (13.2%) |
$996.72B (14.2%) |
$1,036.20B (14.5%) |
| Defense |
$72.82B (11.7%) |
$531.25B (12.4%) |
$509.44B (12.2%) |
$868.41B (12.4%) |
$890.23B (12.5%) |
| Medicaid |
$56.01B (9.0%) |
$409.04B (9.6%) |
$378.07B (9.1%) |
$668.14B (9.5%) |
$699.11B (9.8%) |
| Foreign Aid |
$3.58B (0.6%) |
$18.69B (0.4%) |
$23.87B (0.6%) |
$32.21B (0.5%) |
$27.03B (0.4%) |
| All other outlays |
$64.27B (10.3%) |
$471.31B (11.0%) |
$549.81B (13.2%) |
$814.75B (11.6%) |
$736.25B (10.3%) |
In April, total federal net receipts were $837.340 billion. From the beginning of the fiscal year to April, net receipts were $3.320 trillion.
In the comparable fiscal year to date in FY2025, total federal net receipts were $3.110 trillion, which means the net receipts total in the current fiscal year to date period is 6.74 percent higher than in the same period last fiscal year.
In FY2025, net receipts were $5.235 trillion.
The most recent 10-year budget projection from the CBO forecasts that total receipts will be $5.596 trillion in FY2026, $5.885 trillion in FY2027, and $6.071 trillion in FY2028.
| Receipt category | Apr 2026 | FY2026 to date | FY2025 to date | FY2025 | Last 12 months |
|---|---|---|---|---|---|
| Individual Income Taxes |
$515.12B (61.5%) |
$1,760.56B (53.0%) |
$1,680.85B (54.0%) |
$2,656.04B (50.7%) |
$2,735.76B (50.3%) |
| Social Insurance and Retirement Taxes |
$196.24B (23.4%) |
$1,070.89B (32.3%) |
$1,018.13B (32.7%) |
$1,748.29B (33.4%) |
$1,801.05B (33.1%) |
| Corporation Income Taxes |
$82.59B (9.9%) |
$198.64B (6.0%) |
$255.23B (8.2%) |
$452.09B (8.6%) |
$395.50B (7.3%) |
| Customs Duties |
$22.12B (2.6%) |
$188.62B (5.7%) |
$59.21B (1.9%) |
$194.87B (3.7%) |
$324.27B (6.0%) |
| All other receipts |
$21.26B (2.5%) |
$101.31B (3.1%) |
$97.04B (3.1%) |
$183.31B (3.5%) |
$187.58B (3.4%) |
| Date | Time | Release | Data source |
|---|---|---|---|
| May 22 | 10:00 AM | State Employment and Unemployment, April 2026 | Bureau of Labor Statistics |
| May 28 | 08:30 AM | Monthly Expenditures Update, April 2026 | Bureau of Economic Analysis |
| May 28 | 08:30 AM | Monthly GDP Update, Q1 2026 Second Estimate | Bureau of Economic Analysis |
| Jun 05 | 08:30 AM | Monthly Employment Update, May 2026 | Bureau of Labor Statistics |
| Jun 05 | 10:00 AM | Monthly Debt Update, June 2026 | U.S. Treasury |
| Jun 09 | 08:30 AM | Monthly Trade Update, April 2026 | Bureau of Economic Analysis |
| Jun 10 | 08:30 AM | Monthly Inflation Update, May 2026 | Bureau of Labor Statistics |
| Jun 11 | 10:00 AM | Monthly Fiscal Update, May 2026 | U.S. Treasury |
Source: U.S. Treasury; JEC Republicans calculations
“pp” = percentage points
Discrepancy in change and share figures is possible due to rounding. Values in parentheses in the tables represent the share of the total value of the column.