US Treasury Secretary Scott Bessent has said that every working American household is going to receive "very large refunds" of around $1000 to $2000 in the first quarter of 2026 owing to the tax cuts introduced in the One Big Beautiful Bill Act introduced by President Donald Trump earlier this year.

“I think we’re going to see $100-$150 billion of refunds, which could be between $1,000, $2,000 per household,” Bessent said Wednesday, as per a report by the New York Post. Also Read | US Treasury Secretary divests soybean farm—how much did he earn?

Once they receive the tax refunds, the US citizens will be expected to change the status of their withholding to ensure lesser taxes get deducted from their paychecks.

Treasury chief seeks looser regulation

Bessent, on Thursday, also s

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