National Economic Council Director Kevin Hassett predicted on Thursday that Americans are about to enjoy the “biggest” tax refund checks “in the history of America.”
Hassett, who’s in line to serve as the next Federal Reserve chair, made the prediction while speaking on Fox Business Network’s “Varny & Co.”
“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 said. “We’re expecting just that part of it alone to be worth a couple-thousand-dollar refund … the numbers are striking.”
Speaking a day earlier from the White House, President Donald Trump signaled the same thing, saying that his administration expects “the largest tax refund season of all time” next spring.
“Next year, you will also see the results of the largest tax cuts in American history that were really accomplished through our great Big, Beautiful Bill, perhaps the most sweeping legislation ever passed in Congress,” he said.
“We wrapped 12 different bills up into one beautiful bill. That includes no tax on tips, no tax on overtime, and no tax on Social Security for our great seniors. Under these cuts, many families will be saving between $11,000 and $20,000 a year, and next spring is projected to be the largest tax refund season of all time,” he added.
🚨BREAKING:
🇺🇸 TRUMP SAYS NEXT SPRING WILL BRING THE BIGGEST TAX REFUND SEASON IN US HISTORY!
FAMILIES COULD KEEP $11K-$20K MORE A YEAR UNDER WHAT HE CALLS “THE LARGEST TAX CUT EVER.”
HE SAYS NEXT YEAR, PEOPLE WILL FEEL IT 🔥 pic.twitter.com/Xh7VfskBa0
— Nonzee (@0xNonceSense) December 18, 2025
This has been confirmed by experts.
“Many will see larger refunds than in recent years” when filing their taxes next year, Erica York of the Tax Foundation’s Center for Federal Tax Policy wrote Wednesday.
“Instead of gradually receiving the benefit of the tax cuts through higher take-home pay during the year, most taxpayers will receive it all at once when they file their returns,” she added.
Taxpayers will be benefitting from a higher standard deduction and a bigger child tax credit and senior tax break.
Yes, tax refunds will be up.
No, that is not why the OBBBA is expected to boost long-run growth.
New from me @TaxFoundation: https://t.co/OBv3vmPBFz pic.twitter.com/3kSvPaoBs9
— Erica York (@ericadyork) December 18, 2025
Continuing his remarks on Fox Business Network, Hassett pushed back against a recent Fox News poll that found that 44 percent of respondents were falling behind financially.
“You saw in the jobs report that … wages for the typical worker were up 3.7 percent,” he said. “So if you’re running 3.7 percent wage increases at 1.6 percent core inflation, then real wages are growing at a rate of about 2 [to] 2.5 percent.”
“By our estimates right now, blue-collar workers have already seen an almost $2,000 raise this year after inflation, because wages are growing so much faster than prices,” he added.
Hassett further predicted that Americans will wind up as happy as they initially were during Trump’s final year in office, right before the COVID pandemic erupted.
“I think that what happens in the end — and this is what happened in the first [Trump] term — is that people will see it in their wallets,” he insisted. “We didn’t pass the ‘Big, Beautiful Bill’ until the middle of the summer. And so a lot of the tax changes, which affect last year, weren’t in any tax forms that people filled out at the beginning of the year.”
He also drew attention to what he called a “blockbuster” November inflation report.
“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 said. “And don’t forget, that’s where we were last time in President Trump’s first term. We were growing in the 3 percent range, and we had inflation in the 1 percent range. And it looks like that’s where we are again.”
President Donald Trump is expected to pick Hassett to serve as his next Federal Reserve chair.
Concerns are arising about Kevin Hassett in that “he’s too close” to the President to be considered for the next Federal Reserve Chair. US Treasury Secretary Scott Bessent even weighed in on the matter, saying, “Any concern on Director Hassett is absurd.” pic.twitter.com/HXg2hA5OrQ
— Yahoo Finance (@YahooFinance) December 17, 2025
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V. Saxena is a staff writer with a decade of experience as a professional writer, and a lifetime of experience as an avid news junkie. He holds a degree in computer technology from Purdue University. Saxena also contributes to BizPac Review.
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