One Big Beautiful Bill means Larger Tax Refunds for Rhode Island ($3800)
According to a March 4 analysis published by the Tax Foundation, most Rhode Island and US taxpayers will enjoy significantly higher IRS refund checks this year.
The 2026 filing season is the first to reflect tax changes from President Trump’s One Big Beautiful Bill Act, including new deductions for tips, overtime, auto loan interest, and senior citizens.
Because these tax cuts weren’t reflected in IRS withholding tables, many taxpayers over-withheld throughout 2025—and are now seeing that money returned as larger refunds.
BY THE NUMBERS
The most recent data finds that:
- The average refund is $3,804, up about 10 percent compared to this time last year
- Total refunds issued are also running ahead—$109 billion so far compared to $102 billion at the same point in 2025
- Nearly 69 percent of filers have received a refund so far, compared to about 63 percent for the full 2025 filing season
BIG PICTURE
While bigger refunds will grab attention this filing season, the temporary provisions driving the surge aren’t why the law is expected to boost the economy. The real growth impact comes from permanent reductions in marginal tax rates that increase incentives to work and invest over the long term.
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