Trump Administration Vows Record Tax Refunds Amid Inflation Concerns
White House National Economic Council Director Kevin Hassett joins ‘Varney & Co.’ to discuss the November CPI report, tax refunds, an anticipated White House announcement on housing reform and more.
A leading contender for the position of President Trump’s next Federal Reserve chair, Kevin Hassett, has made headlines by stating that the administration anticipates larger tax refunds and increased take-home pay for Americans in the coming year. This comes at a time when many citizens are expressing concerns about affordability and economic stability.
In a recent interview on FOX Business’ “Varney & Co.”, Hassett declared, “We are going to see the biggest refund cycle ever in the history of America, and people are going to get massive refund checks.” He elaborated that this could translate to refunds worth several thousand dollars for many families, emphasizing that “the numbers are striking.”
During a Wednesday evening address, President Trump echoed Hassett’s sentiments, predicting “the largest tax refund season of all time” for the upcoming spring. He claimed that numerous families could save between $11,000 and $20,000 annually due to these changes.
The Trump administration is expecting the largest tax refund cycle “in history” in the spring of 2026. (Getty Images)
Hassett also addressed concerns raised by a recent Fox News Poll, which indicated that 44% of respondents feel they are falling behind financially, while 74% perceive the economy as “not so good” or “bad.” He countered this narrative by highlighting that wages for the average worker have increased by 3.7%. With core inflation at 1.6%, real wages are reportedly growing at a rate of about 2% to 2.5%. According to Hassett, blue-collar workers have already experienced an approximate $2,000 raise this year after adjusting for inflation.
‘The Big Money Show’ panel previews President Donald Trump’s major economic prime-time address while Treasury officials unveil the ‘Trump Accounts’ rollout and point to improving jobs data.
Hassett expressed optimism about the economy, referencing what he described as a “blockbuster” November inflation report, which showed figures lower than economists had anticipated. He stated, “What’s happened is, as we predicted throughout this term, that if you really put the pedal to the metal on aggregate supply, then that’s gonna put downward pressure on prices.”
He also drew parallels to the previous Trump administration, noting, “We were growing in the 3% range, and we had inflation in the 1% range. And it looks like that’s where we are again.”
White House National Economic Council Director Kevin Hassett joins ‘Varney & Co.’ to discuss the November CPI report, tax refunds, an anticipated White House announcement on housing reform and more.
A leading contender for the position of President Trump’s next Federal Reserve chair, Kevin Hassett, has made headlines by stating that the administration anticipates larger tax refunds and increased take-home pay for Americans in the coming year. This comes at a time when many citizens are expressing concerns about affordability and economic stability.
In a recent interview on FOX Business’ “Varney & Co.”, Hassett declared, “We are going to see the biggest refund cycle ever in the history of America, and people are going to get massive refund checks.” He elaborated that this could translate to refunds worth several thousand dollars for many families, emphasizing that “the numbers are striking.”
During a Wednesday evening address, President Trump echoed Hassett’s sentiments, predicting “the largest tax refund season of all time” for the upcoming spring. He claimed that numerous families could save between $11,000 and $20,000 annually due to these changes.
The Trump administration is expecting the largest tax refund cycle “in history” in the spring of 2026. (Getty Images)
Hassett also addressed concerns raised by a recent Fox News Poll, which indicated that 44% of respondents feel they are falling behind financially, while 74% perceive the economy as “not so good” or “bad.” He countered this narrative by highlighting that wages for the average worker have increased by 3.7%. With core inflation at 1.6%, real wages are reportedly growing at a rate of about 2% to 2.5%. According to Hassett, blue-collar workers have already experienced an approximate $2,000 raise this year after adjusting for inflation.
‘The Big Money Show’ panel previews President Donald Trump’s major economic prime-time address while Treasury officials unveil the ‘Trump Accounts’ rollout and point to improving jobs data.
Hassett expressed optimism about the economy, referencing what he described as a “blockbuster” November inflation report, which showed figures lower than economists had anticipated. He stated, “What’s happened is, as we predicted throughout this term, that if you really put the pedal to the metal on aggregate supply, then that’s gonna put downward pressure on prices.”
He also drew parallels to the previous Trump administration, noting, “We were growing in the 3% range, and we had inflation in the 1% range. And it looks like that’s where we are again.”
