Tax Refunds Are Up But Falling Short of Trump's $1,000 Promise.

The article focuses on the status of American tax refunds during the current filing season following the passage of President Donald Trump’s 2017 tax legislation. As of mid-March, average refunds are about $350 higher than last year, averaging $3,623, but remain well below the $1,000 increase promised by the Trump administration. The tax law introduced new deductions for tips, overtime, seniors, and car loan interest, primarily benefiting middle- and higher-income taxpayers who tend to file later in the season. Experts note that while refunds could rise somewhat before the April 15 deadline, reaching the promised $1,000 increase is unlikely, and the political implications of falling short may affect Republican efforts to maintain congressional control. [Extracted from the article]