Trump claims tax refunds are 'substantially greater than ever before' due to his tax law changes
Early IRS data shows refunds are up approximately 11% compared to last year
Analysts project about $1,000 in additional stimulus per household on average
It's still too early to determine if refund increases represent a lasting trend
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President Donald Trump claimed in a Truth Social post this week that tax refunds are 'substantially greater than ever before,' attributing the increases to changes enacted via his 'big beautiful bill' tax law. This statement came as tax season opened nearly one month ago, with many filers expecting larger refunds due to the new legislation. While Trump suggested that 'over 20%' could be returned to taxpayers, the White House did not respond to requests for clarification regarding which estimates he was referencing. Early data from the IRS shows mixed results: Treasury Secretary and acting IRS Commissioner Scott Bessent initially told CNBC's 'Squawk Box' that the average tax refund was 22% higher so far this season, but later IRS statistics released on February 13 showed the average refund was $2,290 as of February 6, up about 11% from the previous year. The Treasury has not addressed this discrepancy. Financial analysts suggest that while refunds may indeed be larger this season, it's still too early to determine if these increases represent a durable trend. Andrew Lautz, director of tax policy for the Bipartisan Policy Center, noted that the filing season had just begun on January 26, and the first batch of IRS data only included returns through February 6. Lautz pointed out that the average refund size typically increases in late February once payments include the earned income tax credit or additional child tax credit.
The One Big Beautiful Bill Act (OBBBA) or the Big Beautiful Bill (P.L. 119-21), is a U.S. federal statute passed by the 119th United States Congress containing tax and spending policies that form the core of President Donald Trump's second-term agenda. The bill was signed into law by Trump on July 4...
The state and local tax deduction (SALT deduction) is a United States federal itemized deduction that allows taxpayers to deduct certain taxes paid to state and local governments from their adjusted gross income.
The SALT deduction is intended to avoid double taxation by allowing taxpayers to deduct...
Attempts to use monetary or fiscal policy to stimulate the economy
In economics, stimulus refers to attempts to use monetary policy or fiscal policy (or stabilization policy in general) to stimulate the economy. Stimulus can also refer to monetary policies such as lowering interest rates and quantitative easing.
A stimulus is sometimes colloquially referred to as "...
In this article IRS Follow your favorite stocks CREATE FREE ACCOUNT Antonio Garcia Recena | Moment | Getty Images It's been nearly one month since tax season opened , and many filers expect bigger refunds due to changes enacted via President Donald Trump 's "big beautiful bill." But it's still too early to tell how much bigger refunds could be amid limited IRS filing data . "In some cases, estimates are that over 20% will be returned to the Taxpayer," he wrote. In a Truth Social post on Tuesday, Trump said tax refunds are "substantially greater than ever before." It's unclear which estimates Trump was referencing. The White House did not respond to CNBC's request for clarification. Read more CNBC personal finance coverage Trump: tax refunds are 'substantially greater than ever before.' What to expect What a Supreme Court tariff ruling may mean for your money Trump officials warn hundreds of colleges with low student loan repayment rates As AI puts the squeeze on entry-level jobs, teens remain optimistic: report Trump administration finds more borrowers eligible for student loan forgiveness More used cars are for sale, but ones under $20,000 are 'harder to find': Expert How to claim Trump's 'no tax on overtime' deduction this season Parents with student debt face deadline to secure affordable repayment, forgiveness Secure 2.0 let employers pair emergency savings and 401 s, but few have done so Home sellers start getting lower prices at 70, research shows — here's why Average IRS tax refund is up 10.9% so far this season, early filing data shows Early estimates point to lower Social Security COLA for 2027 Senators call for longer Social Security Fairness Act lump-sum payment timeline Here's the inflation breakdown for January 2026 — in one chart Average tax refund is up 22%, Bessent says — what filers can expect this season K-shaped economy looks like 'jaws of a crocodile,' economist says: Here's why How EPA 'endangerment finding' repeal could impact your wallet CNBC'...
