Treasury Secretary Scott Bessent said that working Americans are set to get “very large refunds” next year as tax cuts that were enabled in the Republican-backed One Big Beautiful Bill Act are set to go into effect.
“I think we’re going to see $100 [billion]–$150 billion of refunds, which could be between $1,000, $2,000 per household,” Bessent told an NBC affiliate station reporter while in Pennsylvania on Wednesday.
American workers haven’t yet adjusted their tax withholding, meaning that the refunds will be coming during the tax year, he said. After the refunds, their withholdings are likely to change so that less tax is taken from each paycheck, he said, adding that there will be a “real increase” in wages….