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How some tax refunds are sent out to change this year
The One Big Beautiful Bill Act will deliver an average tax cut of $3,750 per filer and $100 billion in refunds to American households, aiming to boost economic growth.
- On Tuesday, Treasury Secretary Scott Bessent unveiled a platform and said the Treasury projects $100 billion in additional refunds and average tax cuts of $3,750 per filer.
- The One Big Beautiful Bill Act anchors the administration’s economic push by aiming to strengthen small businesses and let working families keep more of their pay.
- Economic analysts point to mixed signals on spending and inflation as spending power from jumbo refunds, larger deductions and no taxes on tips is widely expected to push prices up, though Joseph Lavorgna said prices are unlikely to rise quickly.
- Immediate effects could lift sentiment but complicate interest-rate plans, analysts say, warning the refunds could hinder Federal Reserve efforts and lower-income households might suffer if consumer prices rise.
- Federal Reserve officials say inflation should fall closer to 2 percent over the coming year, while Kent Smetters projects refunds will nudge inflation by about zero in the second and third quarters.
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Executive Order Mandates Electronic Tax Refunds and Payments
On March 25, 2025, President Trump signed Executive Order 14247, Modernizing Payments To and From America’s Bank Account. The requirements under the Executive Order apply to both individual and business taxpayers. Electronic Payments from the IRS Effective September 30, 2025, the Executive Order requires the U.S. Department of the Treasury to discontinue the issuance of paper checks for federal payments, including tax refunds, in favor of electr…
Coverage Details
Total News Sources12
Leaning Left1Leaning Right0Center9Last UpdatedBias Distribution90% Center
Bias Distribution
- 90% of the sources are Center
90% Center
C 90%
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