The 'chainsaw plan,' along with the revenue from tariffs, eliminated the huge deficit inherited from Joe Biden
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Thanks to the implemented public spending cuts, Donald Trump's Government recorded a budget surplus of 258 billion dollars in April, representing a 23% increase compared to the same month of the previous year, according to the Treasury Department on Monday.
This result is due to a solid tax collection during the close of the tax season, a strong rebound in revenue from tariffs, and the deep spending cuts carried out by Elon Musk, through the Department of Government Efficiency (DOGE).
Javier Milei y Donald Trump.
According to the Treasury, net revenue from customs tariffs reached 16 billion dollars in April, about 9 billion more than in the same period of the previous year. This increase also occurs in the context of a rise in tariffs applied by President Donald Trump, who raised levies on Chinese products up to a cap of 145%.
Budget data shows that the United States collected more than 500 million dollars daily in April from tariffs.
In this context, according to DOGE, the Republican government has saved approximately 170 billion dollars in terms of cancellations and renegotiations of contracts/leases, elimination of unnecessary expenses, improper payments, subsidy cancellations, interest savings, regulatory savings, and reduction of public employees.
Javier Milei y Elon Musk.
Meanwhile, the Treasury Department reported that in the first seven months of the fiscal year 2025, which began on October 1, a deficit of 1.049 billion dollars was accumulated, 23% more than in the same period of the previous year, due to the enormous deficit inherited from the Democratic government of Joe Biden.
Accumulated revenues reached 3.110 billion dollars and expenses totaled USD 4.159 billion, both historical highs for an April month, although not the deficit, according to an official from the agency.
