Note: Single-source report; awaiting corroboration.
One year after the Working Families Tax Cuts became law, the legislation has reportedly delivered benefits to millions of American workers and their families, according to a White House release.
Nearly 70% of filers receiving tax cuts earned less than $100,000. Provisions include No Tax on Tips, No Tax on Overtime, No Tax on Social Security, and Made in America Car-Loan deductions, which have been described as contributing to a "blue-collar boom."
White House statistics indicate millions of Americans received historic tax refunds this tax season, with the average refund exceeding $3,400—an 11% increase from the previous year. Families and workers reportedly claimed $82 billion in direct tax relief, with 97% of filers receiving some form of cut.
Specific figures include: over 29 million workers claimed the No Tax on Overtime deduction, averaging more than $3,100; over 35 million seniors claimed No Tax on Social Security averaging over $7,500; nearly 8 million workers claimed No Tax on Tips with average deductions over $7,000; and more than 1.4 million filers claimed the Made-in-America Car Loan Interest deduction, with average deductions over $1,800.
Additionally, nearly 40 million families claimed the enhanced Child Tax Credit, and over 127 million taxpayers benefited from the doubled standard deduction. The statement also notes that nearly 6 million Trump Accounts have been opened, with 1.4 million eligible for a $1,000 pilot program contribution.
The statement says these tax cuts highlight a commitment by President Trump and Republicans to hardworking Americans, contrasting with Democrats, described as opposing the legislation.
These details were provided in a White House statement marking the nation’s 250th birthday and the tax law's first-year outcomes.