Scott Bessent Says ‘Very Large Refunds’ Are Coming
Scott Bessent Says ‘Very Large Refunds’ Are Coming, With $150B Heading Into American Accounts. Do this with yours now
Jing Pan Sun, April 5, 2026 Moneywise
Working Americans will soon see a sizable financial boost in the form of a tax refund — and not a moment too soon, as economists are predicting higher inflation rates this year due to the impact of the war in Iran on energy prices (1).
Thanks to changes tied to President Donald Trump’s One Big Beautiful Bill Act, up to $100 billion in tax refunds could hit bank accounts in the first quarter of 2026 (2).
Treasury Secretary Scott Bessent stated in December 2025: “The bill was passed in July. Working Americans didn’t change their withholding, so they’re going to be getting very large refunds in the first quarter. So I think we’re going to see $100 to $150 billion of refunds, which could be between $1,000 and $2,000 per household (3).”
After that, once withholding levels adjust, workers could see what he described as a “real increase” in their wages.
For many households, that raises an immediate question: What’s the smartest way to use a sudden cash infusion?
Whether you’re thinking about shoring up your finances, preparing for uncertainty or putting that extra money to work, here are a few ways Americans may consider investing their potential windfall.
How much can you expect to get back? And what to do with it?
According to data released by the IRS on March 6, 2026 (4), early filers are already seeing a boost over last year. Of the 60.7 million individual returns received by that date, the average payouts are $3,676, up from $3,324 last year (5).
And while it may be tempting to spend the windfall, especially as prices continue to rise, stashing the cash in an emergency fund can be one of the best ways to use your refund.
“When you’re broke, your life looks like a country song,” veteran financial guru Dave Ramsey says (6). “An emergency fund turns a crisis into an inconvenience.”
However, it’s important to put your emergency fund in an account where it can grow, so that inflation doesn’t eat away at the value of your savings.
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