Story perspectives

Trump's Tax Cuts Boost Average Refunds to $3,700

3/11/2026

Summary

Story summary

U.S. President Donald Trump’s administration enacted tax breaks, raising average refunds to over $3,700 this filing season.
The Internal Revenue Service processed 63.5 million returns, and 27.5 million filers claimed One Big Beautiful Bill Act (OBBBA) tax cuts signed July 4, 2025.
Five million 'Trump Accounts' have been opened for children, funded by federal and private contributions, and Treasury Secretary Scott Bessent says the measures help families keep more earnings.

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Story summary

U.S. President Donald Trump’s administration enacted tax breaks, raising average refunds to over $3,700 this filing season.
The Internal Revenue Service processed 63.5 million returns, and 27.5 million filers claimed One Big Beautiful Bill Act (OBBBA) tax cuts signed July 4, 2025.
Five million 'Trump Accounts' have been opened for children, funded by federal and private contributions, and Treasury Secretary Scott Bessent says the measures help families keep more earnings.