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IRS touts a 24% increase in tax refunds compared to the previous administration
The IRS says the average refund is $3,521, while the White House credits Republican tax changes for a 24% rise from the pre-Trump average.
- The White House announced yesterday that average tax refunds rose 11% to $3,521 this season, according to IRS data showing an increase from last year's $3,170.
- Republican legislation signed into law last year drove the refund increase, with returns up 24% compared to the four-year average before President Donald Trump took office.
- Officials attributed the gains to specific breaks including deductions for car loan interest and seniors, alongside exemptions for tips and overtime affecting taxpayers across income brackets.
- Addressing concerns that higher gas prices from the Iran conflict might offset these gains, an official stated increased refunds put immediate cash into taxpayer pockets.
- The nonpartisan Congressional Budget Office estimates the Republican legislation will add $4.2 trillion to the national debt through 2034, per its latest Budget and Economic Outlook.
17 Articles
17 Articles
Associated Press News
IRS touts a 24% increase in tax refunds compared to the previous administration
The Trump administration is highlighting a 24% increase in individual tax refunds this season compared with those issued during the previous administration.
IRS: Tax refunds are up this year; here's how much
WASHINGTON - Tax refunds are up significantly this season compared with the four-year average of refunds before President Donald Trump took office, his administration said Thursday.Tax refunds upAccording to the Trump administration, tax refunds are up 24% compared with the four-year average – a change credited to Republicans’ tax legislation signed into law last year.Currently, the average refund amount is $3,521, according to the latest IRS da…
Trump Tax Plan Credited With Higher Refunds, Lower Taxes
The White House is highlighting early results from President Donald Trump’s latest tax law, saying millions of Americans are already seeing larger refunds and higher take-home pay. In a statement, White House spokeswoman Liz Huston said the changes are aimed at helping working families keep more of what they earn. “Thanks to President Trump signing
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