More Americans Faced Rising Debt Challenges Last Year And Larger Tax Refunds Could Be Key

KEY TAKEAWAYS More than one-third of Americans will use this year's tax refund to pay down debt. The average tax refund for the 2026 filing season is expected to be $750 higher than the previous year. Consumers can use their refunds to help pay down the rising debt levels that many Americans struggled with in 2025. More than two-thirds of Americans expect to receive a tax refund this year, and the majority will use it to pay down their debt. With new and expanded tax breaks from the "One Big, Be ...