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Treasury Secretary Scott Bessent breaks down President Donald Trump’s tariff threat against Canada over China, his scathing indictment of Gavin Newsom at Davos and why Americans should prepare for an economic ‘boom’ on ‘Hannity’.
Secretary of Finance Scott Bessant said Americans could see “substantial refunds” and bigger paychecks as President Donald Trump’s economic agenda begins to bear fruit in 2026.
Bessent’s comments come as Tax filing season opens across the country. Key provisions of the administration’s One Big Beautiful Bill are now reflected in a tax filing season for the first time since Trump returned to office.
“President Trump’s policies that we put in place last year are really starting to take off,” Bessent said Monday on “Hannity.”
“He is keeping his promises to American workers,” he added later.
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Treasury Secretary Scott Bessent arrives for an inflation event with President Donald Trump in Mount Pocono, Pennsylvania on December 9, 2025. (Adam Gray/via Bloomberg/Getty Images)
Jason Smith, chairman of the House Ways and Means Committee, said this month that American taxpayers are expected to receive an additional $91 billion in tax refunds this year in what is expected to be a $370 billion repayment season.
The Trump administration has focused on policies aimed at reducing or eliminating them taxes on tips and overtime.
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“We announced that tax season is on. And (we will) see substantial refunds for American workers,” Bessent said. “They’re going to change their retainer and get a bigger paycheck every two weeks, every month. So it’s a really exciting time.”
President Donald Trump signs the One Big Beautiful Bill Act during an Independence Day military family picnic at the White House on July 4, 2025. (Samuel Corum/Getty Images)
Trump is scheduled to speak in Iowa on Tuesday, where he will highlight his economic agenda and the changes implemented during his first year back in office.
said Bessent the drop in gas prices, Lower rents and higher wages are signs that affordability is improving for working families.
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“I think we will (have) a boom in 2026. And the important thing here is that (it will be) a non-inflationary boom, and I think it could really stretch for several years,” Bessent said.
Some Democrats have criticized Trump’s economic policies, including concerns about affordability and the tariffs’ potential impact on consumer prices.
Treasury Secretary Scott Bessent speaks at the World Economic Forum in Davos, Switzerland, on January 20. (Harun Ozalp/Anadolu via / Getty Images)
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Trump addressed those criticisms during a December cabinet meeting, calling out the word affordability “a democrat scam”.
The White House is also expected to do so post more details this week on “Trump accounts,” a proposed government-funded investment program for U.S. citizens born between 2025 and 2028.
Fox News Digital’s Eric Revell contributed to this report.
National Economic Council Director Kevin Hassett joins “Mornings with Maria” for a wide-ranging interview to break down the Fed’s upcoming rate decision, the impact of the government shutdown on key data and economic momentum in 2026.
