Tax revenue jumps 22% in April, but U.S. deficit still looms large

The U.S. Treasury ran a surplus in April, as tax payments jumped by 22% from a year ago. The federal government is still on track to run a deficit of more than $1.5 trillion this year. (Al Drago/Getty Images)

The U.S. Treasury ran a surplus last month, thanks to the April 15th tax deadline. But the federal government is still on track to end the fiscal year more than $1.5 trillion in the red.

April tax receipts totaled $776 billion — a 22% increase from the previous year. Treasury officials credited part of the jump to the growing number of people working and rising wages.