The Average American Tax Refund is Down 16.7% After the Republican ‘Tax Cut’
When Republicans pushed forth their tax plan, calling it a “middle class tax cut,” many people rejoiced over the idea that they would be seeing more money in their pockets come tax refund season. Democrats warned that the plan would not help the middle class, but a Republican-led House and Senate pushed the bill through anyhow.
Now, according to statistics published by the IRS, we can see with our own eyes that the average American isn’t getting a larger tax refund this year after all. In fact, they are seeing quite the opposite.
So far 39,747,000+ tax returns have been received. This represents a vast majority of American tax-reporting households, and they have received an average refund of $2,640. This compares to the pre-tax-cut returns form last year which averaged $3,169, and represents a 16.7% decline, year-over-year.
When Trump and Republicans promised that Americans would see a $4,000 raise due to these tax cuts, most Americans probably didn’t believe that it would result in a $529 average decline in their tax refund.
With all of this said, however, the mere fact that one’s tax refund check is smaller than last year, doesn’t necessarily mean that they paid more in taxes over the past year. Politico reports that the Tax Policy Center stats show that 80% of Americans actually saw their taxes fall in 2018.