Trump touts potential 20% tax refunds from 'Big Beautiful Bill'
Trump says refunds will be 'substantially greater than ever before' under his signature tax law
Peter Navarro touts Trump's Goldilocks economy citing low inflation, job growth
White House senior counselor Peter Navarro discusses Trump's Goldilocks economy, citing low inflation, rising wages and job growth. He also addresses the Supreme Courts tariff decision, the White House strategy for AIs impact on jobs and more.
President Donald Trump said tax refunds this year will be substantially larger than ever before because of his signature "One Big Beautiful Bill," which was passed last year.
Trump took to Truth Social to promote the expected refunds ahead of the 2026 filing season, arguing that some taxpayers could see more than 20% returned.
Taxpayers generally must file their 2025 federal returns by April 15, 2026, and if they file electronically with direct deposit, most refunds are issued within about three weeks after the return is processed, according to the IRS.
SCOTT BESSENT: PRESIDENT TRUMP'S 'BIG, BEAUTIFUL BILL' WILL UNLEASH PARALLEL PROSPERITY
President Donald Trump signs the "One Big Beautiful Bill" from the South Lawn of the White House on Independence Day, July 4, 2025, in Washington. (Tom Brenner For The Washington Post via Getty Images / Getty Images)
"Tax Refunds this year, because of ‘THE GREAT BIG BEAUTIFUL BILL,’ are substantially greater than ever before," Trump wrote. "In some cases, estimates are that over 20% will be returned to the Taxpayer."
He pointed to provisions he said eliminate taxes on tips, social security benefits for seniors and overtime pay, while allowing interest deductions on car loans, among other measures.
"So, when you get your Tax Refund, think about what a wonderful President you have — NO TAX ON TIPS, NO TAX ON SOCIAL SECURITY FOR OUR GREAT SENIORS, NO TAX ON OVERTIME, INTEREST DEDUCTIONS ON CAR LOANS, AND MUCH MORE," Trump continued.
"Don't spend all of this money in one place! President DJT."
TRUMP SPEECH SPARKS OPTIMISM AS 'GANGBUSTER' ECONOMY FORECASTED FOR 2026
President Donald Trump, joined by Republican lawmakers, signs the One, Big Beautiful Bill Act into law during an Independence Day military family picnic on the South Lawn of the White House in Washington, D.C., on July 4, 2025. (Samuel Corum/Getty Images / Getty Images)
The White House has promoted the upcoming filing season as potentially the largest tax refund season in U.S. history, citing provisions in the One Big Beautiful Bill Act that affect 2025 tax returns filed in 2026.
A central goal of the bill was to extend and make permanent many tax cuts originally created under the 2017 Tax Cuts and Jobs Act, many of which were slated to expire at the end of 2025.
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President Donald Trump pitched the idea to eliminate federal income tax during his address at a GOP conference in Doral, Florida, on Monday. (Getty Images/Photo illustration / Getty Images)
The legislation also included billions for the Pentagon and border security, deep spending cuts and changes to Medicaid.
The nonpartisan Congressional Budget Office estimated the package could add roughly $3.3 trillion to the federal deficit over a decade under current law projections.
On Sunday, White House Senior Counselor for Trade and Manufacturing Peter Navarro touted what he called a "Goldilocks economy" under Trump, while promising Americans the "biggest rebate" in U.S. history.