Get ready—Christmas might be making an unexpected encore.
Working Americans could soon see a big surprise in their wallets—refunds of $1,000 to $2,000 per household early next year, according to Treasury Secretary Scott Bessent.
He said the checks are expected to go out in the first quarter of 2026, stemming from the tax cuts in President Trump’s sweeping, budget-focused One Big Beautiful Bill Act.
“I think we’re going to see $100 [billion] to $150 billion of refunds, which could be between $1,000, $2,000 per household,” Bessent said Wednesday.
Bessent said many working Americans might get as much as $2,000 back per household. REUTERS
He said the payday is thanks to several provisions in the legislation, including auto-deductibility and no taxes on tips.
He noted that millions of employed Americans haven’t changed their tax withholding—meaning many could get refunds in 2026.
Workers may see their refunds start rolling in during the first few months of 2026. Andy Dean – stock.adobe.com
After receiving their refunds, Americans are expected to adjust their withholding so less tax is taken from each paycheck.
Bessent said workers will finally notice a "real increase" in their take-home pay.
Kevin Hassett, White House National Economic Council director, said Monday that most Americans could get an extra $1,600 to $2,000 next year, thanks mainly to tax refunds, CNBC reports.
Passed in July, the One Big Beautiful Bill Act has drawn critics who say it favors the rich and cuts vital services such as Medicaid and food stamps.
