Trump is giving the U.S. economy a $65 billion tax-refund shot in the arm, mostly for higher-income people, BofA says

The U.S. economy is bracing for a substantial fiscal injection this tax season, with Bank of America Global Research analysts projecting a massive surge in tax refunds driven by the One Big Beautiful Bill Act (OBBBA). While the legislation is poised to give the economy a $65 billion shot in the arm compared with last year, analysts suggest the benefits will be unevenly distributed, potentially exacerbating the nation’s “K-shaped” economic divide. According to BofA Global Research, tax refunds in 2026 ar ...