The Treasury Department announced Thursday that the US posted a $119 billion budget surplus in January.
It’s the first such surplus that the US government has enjoyed in more than two years, on the back of higher tax receipts and significantly lower pandemic-related expenditures.
A year ago, in January 2021, Treasury reported a budget deficit of $163 billion, which was a record high for January, driven by direct aid payments to individuals from COVID-19 legislation.
