One Big Beautiful Bill Sending Large Tax Refunds in 2026

The One Big Beautiful Bill Act (OBBBA) is set to deliver "very large” tax refunds to millions of US households in 2026, according to Treasury Secretary Scott Bessent. For months, the current administration has touted enormous tax savings that will deliver a financial win for Main Street in the new year. In turn, this could lead to stronger economic growth prospects.

Bessent: Tax Refunds Coming in 2026

In an interview with NBC10 Philadelphia, Bessent projected that President Donald Trump's landmark tax law will allow taxpayers to receive immense tax refunds in the tax filing season early next year. While many of the legislation's contents will take effect in 2026, some retroactive provisions will influence Americans' tax bills.

"The bill was passed in July. Working Americans didn't change their withholding, so they're going to be getting very large refunds in the first quarter,” Bessent told the local news affiliate. "Then they'll change their withholding, and they'll get a real increase in their wages. So I think 2026 can be a very good year.”

Bessent’s remarks come days after President Trump said at a Cabinet meeting that the 2026 tax filing season is "projected to be the largest tax refund season ever."

The US Treasury previously estimated that the tax refunds would reach as much as $150 billion next year, averaging between $1,000 and $2,000 per household. Even private-sector forecasts are bullish on tax refunds, with Piper Sandler expecting $91 billion and Oxford Economics anticipating larger refunds and smaller tax bills.

Meanwhile, public comments from the administration are a part of the White House’s push to tout the president’s efforts to address affordability. Persistently high prices have captured the attention of Democratic Party leaders and the mainstream media, who tried to blame Trump for elevated inflation that dates back to his predecessor. Despite Bidenomics driving 20% inflation over four years, US voters have expressed growing frustration, with Liberty Nation News Public Square average polling data showing Trump underwater on the issues of inflation and the economy.

But US officials are confident that things will turn around heading into 2026 as the One Big Beautiful Bill drives up real (inflation-adjusted) wages, bolsters GDP, and potentially creates new jobs amid slowing employment conditions. Can the bill deliver on these expectations?

Combing Through the Numbers (Again)

During the One Big Beautiful Bill debate and after the president signed, sealed, and delivered his signature legislation, critics said it was a handout for the rich and corporations. While the affluent and Corporate America will benefit from the tax law, low- and middle-income households and small businesses will also see benefits.