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Average Tax Refunds Rise to $3,623, Falling Short of Trump's Promise

3/23/2026

39 5 Full Breakdown

Summary

Story summary

Average refunds are up $350 to $3,623 as of March 13.
They fall short of the $1,000 increase promised by U.S. President Donald Trump.
Experts say refunds may rise before the filing deadline.
Political analysts warn that failing to deliver could jeopardize Republican control in the upcoming midterm elections.
The Internal Revenue Service (IRS) continues to monitor refund trends with further updates expected as the season progresses.

History

Historical Context

The Tax Cuts and Jobs Act, signed by President Donald Trump in December 2017, reduced the corporate tax rate from 35% to 21% and aimed to stimulate economic growth. However, the Congressional Budget Office projected a $1.5 trillion deficit increase over ten years, raising concerns about its long-term impact on federal revenue and economic inequality, as benefits disproportionately favored higher-income households.

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Story summary

Average refunds are up $350 to $3,623 as of March 13.
They fall short of the $1,000 increase promised by U.S. President Donald Trump.
Experts say refunds may rise before the filing deadline.
Political analysts warn that failing to deliver could jeopardize Republican control in the upcoming midterm elections.
The Internal Revenue Service (IRS) continues to monitor refund trends with further updates expected as the season progresses.

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