Bessent Forecasts ‘Substantial’ Tax Refunds, Real Wage Increases Next Year

The Treasury secretary also warned that a possible shutdown in January could create problems for the economy.

Treasury Secretary Scott Bessent speaks with reporters outside the West Wing of the White House in Washington on Oct. 22, 2025. Jim Watson/AFP via Getty Images

Treasury Secretary Scott Bessent said on Monday that an increase in Americans’ tax refunds would enable the United States to “go back to the kind of economy that we had.”

While speaking to Fox Business, Bessent said that “substantial refunds” are coming to Americans after they submit their taxes in the first quarter.