The Working Families Tax Cuts Act was designed to keep more money in the pockets of American taxpayers, and one year in, the early numbers suggest the approach is paying off.
Fiscal Lab Senior Fellow Matt Dickerson breaks down the results of the Working Families Tax Cuts one year after it was signed into law on July 4, 2025.
Drawing on the latest Treasury Department data:
Average refunds up 11.5% to $3,276, with 69% of returns receiving a refund.
Broad-based relief: 96% of taxpayers getting a tax cut earned under $200,000, and 70% earned under $100,000.
Pro-growth provisions for investment, R&D, and expensing for new manufacturing structures.
The rollback of roughly $500 billion in green energy subsidies to help reduce the deficit.
Matthew Dickerson is recognized as a leading expert on fiscal policy issues, including the budget, appropriations, and economic opportunity. He brings more than a dozen years of Capitol Hill experience as well as management roles at leading policy institutions.
Dickerson was previously the Director of Budget Policy at the Economic Policy Innovation Center (EPIC).
In other previous roles, he served as Senior Policy Advisor on the House Budget Committee, where he helped lead development of the fiscal year 2024 Reverse the Curse budget resolution. He was Director of The Heritage Foundation’s Grover M. Hermann Center for the Federal Budget. Dickerson was Policy Director of the Republican Study Committee and served as Legislative Director for the late Congressman C.W. Bill Young, former Chairman of the House Appropriations Committee.
Dickerson has written hundreds of publications, testified before Congress, and advised lawmakers and stakeholders on the federal budget process.
Dickerson is also founder and President of Baseline Policy, where he provides federal fiscal policy research and analysis.
Dickerson is a graduate of the College of William and Mary in Virginia and holds a Bachelor of Arts in Government and History.
