WASHINGTON, D.C. – 2026 is shaping up to be the largest tax refund season thanks to the tax cuts for working families passed by Congressional Republicans and signed into law by President Trump, according to recent studies. Families are benefiting from a slew of tax cuts, including a bigger child tax credit, a larger standard deduction,making the lower 2017 tax rates permanent and President Trump’s additional tax relief, like no tax on tips, no tax on overtime, and no tax on Social Security. With a majority of Americans saying their tax refunds help cover everyday expenses, Republicans have ensured working families will get relief as soon as possible by making the tax cuts apply to 2025 income.

“Families are going to see for themselves how the working-class tax cuts benefit them when they get their tax refunds early in the new year,” said Ways and Means Committee Chairman Jason Smith (MO-08). “Waitresses, welders, seniors, moms and dads willhave more money in their pockets to put food on the table and afford the higher cost-of-living that was driven up by Democrat spending under President Biden. Congressional Republicans and President Trump are keeping our promise to reward hard work and help American families, farmers, workers, and small businesses succeed and have a more secure future.”

Key Highlights:

• Tax refunds help working families better afford Democrats’cost-of-living crisis. Most filers use tax refunds to pay for necessities, like rent, food, and credit card bills, according to a Talker Research poll – everyday expenses that have risen in recent years due to the Biden Administration’s spending-driven inflation crisis.
• Tax refunds could increase by $1,000 per refund next year. According to new analysis from Piper Sandler, refunds are projected to grow $91 billion with an additional $30 billion in tax relief from reduced tax withholdings in 2026.