White House economist says ‘massive refund checks’ are coming to Americans in biggest refund cycle in history
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President Donald Trump is promising a windfall for millions of Americans, declaring that spring 2026 will bring the “biggest tax refund season of all time.” And one top economic adviser says the checks won’t just be big, they’ll be “enormous.”
Kevin Hassett, director of the National Economic Council and a candidate to be the next Federal Reserve chairman, says a big wave of refunds is coming because of the timing of Trump’s “Big Beautiful Bill.”
“We didn’t get the Big Beautiful Bill passed until mid-summer, and so most of the tax changes that affected last year were not on the tax forms that people filled out at the beginning of the year,” he told Fox Business (1).
“So we’re going to see the largest refund cycle in American history, and people are going to get massive refund checks.”
Hassett noted that the impact would be particularly pronounced for a certain group of workers: those who rely on tips or overtime.
“For the typical person who is a tipped worker or receives overtime pay, we expect that portion of it alone to be worth several thousand dollars in reimbursement,” he said.
This was because the Big Beautiful Bill eliminated tip and overtime taxes, giving these workers a noticeable increase in take-home pay.
Hassett added that to ensure workers claim everything they’re owed, the administration will launch “a huge PR campaign at the beginning of the year encouraging people to apply early.”
This raises a pressing question for many households: What’s the smartest way to use a sudden injection of cash? Whether you’re looking to shore up your finances, prepare for uncertainty, or put extra cash to work, here are a few ways Americans can consider investing their potential windfall.
The US stock market has been a powerful engine of wealth creation. Trump recently noted this power, saying: “The only things that are really growing are the stock market and your 401(k)s.” (2)
The benchmark S&P 500 is up about 16% year to date and has gained roughly 84% over the past five years.
Of course, choosing consistently winning stocks isn’t easy. That’s why legendary investor Warren Buffett argues that most people don’t need to pick individual companies to benefit from the stock market’s long-term growth.
As Buffett famously put it, “In my view, the best thing to do for most people is to own an S&P 500 index fund” (3).
This approach gives investors exposure to America’s 500 largest companies across a wide range of industries, providing instant diversification without the need for constant monitoring or active trading.
If you want to follow Buffett’s approach, getting started has never been easier.
With investment platforms such as robinhoodWith , you can buy and sell stocks and ETFs like the S&P 500 index fund and trade commission-free options, track your portfolio in real time, and access customer service 24/7.
For those starting out small, the app also allows you to: Buy fractional shares for as little as $1It makes it easy to create a diversified portfolio without straining your budget.
The best part? new Robinhood customers too get free stock Selected from the best American companies when you sign up and link your bank account to the app.
Beyond stocks, real estate has long been another cornerstone of wealth creation in America.
In fact, Buffett often points to real estate when explaining what a productive, income-generating asset looks like. In 2022, Buffett stated that he would “write you a check” if you offered him “1% of all the apartment buildings in the country” for $25 billion. (4)
From where? Because no matter what happens in the broader economy, people still need a place to live, and apartments can consistently generate rent money.
Real estate also offers a built-in hedge against inflation. When inflation rises, property values often increase; this reflects high material, labor and land costs. At the same time, rental income tends to increase, providing homeowners with an income stream that adjusts for inflation.
Of course, you don’t need $25 billion to invest in real estate, or even buy a single property outright. Crowdfunding platforms reached We offer an easier way to enter this income-producing asset class.
Backed by world-class investors like Jeff Bezos, Arrived lets you: Invest in rental home stocks with as little as $100And without the hassle of mowing the lawn, fixing leaky faucets, or dealing with difficult tenants.
The process is simple: browse selected homes that have been reviewed for their appreciation and income potential. Once you find a property you like, choose the number of shares you want to buy and sit back. Start receiving positive rental income distributions from your investment.
Another option is Mogul, a real estate investment platform. partial ownership in premium rental propertiesProviding investors with monthly rental income, real-time appreciation and tax advantages without the need for a large down payment or searching for tenants at 3 am.
Each property goes through a stringent review process that requires a minimum return of 12%, even in adverse scenarios. The overall platform has an average annual IRR of 18.8%. Offers usually sell out in under three hoursInvestments typically range from $15,000 to $40,000 per property.
You don’t need a huge investment portfolio to start building wealth. Even your spare money, such as a tax refund, can generate income instead of sitting idle in a low-yielding account.
One of the simplest ways to put that money to work is to move it to an account that truly rewards you. High-yield savings accounts (HYSAs) won’t make you rich overnight, but they do offer a low-risk way to earn interest on money you may need to access at any time.
And space can be important. While the national interest rate average on savings accounts is a 0.39% APY, online banks can offer you much more competitive returns (up to 10x higher in some cases).
