Big Take Podcast

Trump Promised Higher Tax Refunds. Are Americans Feeling Them?

Tax Day is here. We explore how the “One Big Beautiful Bill Act” is hitting your bank account and shaping the 2026 midterm landscape.

President Donald Trump displays the signed bill during a ceremony for the One Big Beautiful Bill Act on the South Lawn of the White House in Washington on July 4, 2025.Photographer: Bonnie Cash/UPI/Bloomberg

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By David Gura and Rachael Lewis-Krisky

April 15, 2026 at 9:04 PM UTC

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President Trump’s One Big Beautiful Bill Act brought about a host of changes to US tax policy, from tax breaks on tips and overtime to an increased cap on state and local tax deductions, also known as SALT. But are Americans feeling the shifts on tax day?