8legs: United states department of the treasury

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Bessent expects taxpayers will see 'very large' tax refunds early next year

Treasury Secretary Scott Bessent says American households will see very large refunds in the first quarter next year due to the One Big Beautiful Bill Act changes.
Analysts estimate refunds could total between $100 billion and $150 billion, equating to roughly $1,000 to $2,000 per household.
The refunds come as policy changes under the OBBBA extend lower tax rates and higher standard deductions set to affect 2025 earnings.
The White House and IRS data show the 2025 filing season already paid over $311 billion in refunds by mid-October.
Officials say refunds could bolster household finances ahead of a year-marked economic amiability and tax relief efforts.
Treasury officials stressed that employers may adjust withholdings, amplifying the potential wage impact into 2026.
President Trump has framed the refunds as part of a broader tax relief push aimed at improving affordability for Americans.
IRS data shows refunds are already high, with the average refund around $3,116 in 2025.
The report includes context on public opinion and economic concerns, as a Fox News poll shows ongoing worries over inflation.
Overall, the coverage ties refunds to a broader political narrative about tax relief and affordability under the OBBBA.

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