A historic wave of tax refunds is set to reshape the financial landscape for American households as Treasury Secretary Scott Bessent predicts up to £1,600 ($2,000) per family could be returned during the 2026 filing season under President Trump's One Big Beautiful Bill Act.
The assertion from the nation's top financial official comes amidst one of the most consequential tax overhauls in decades. Treasury forecasts suggest that the retroactive nature of the tax law and the failure of most workers to adjust withholding will result in the 'gigantic' refund year Bessent has publicly described.
