In an interview Saturday, Frank Bisignano, the commissioner of the Social Security Administration and CEO of the Internal Revenue Service, credited the Working Families Tax Cut Act with delivering the largest dollar value of refunds ever recorded while increasing revenue.
Speaking with host Matthew Boyle on Breitbart News Saturday, Bisignano said the law produced results the country had not seen before, pairing record refunds with higher revenue and faster service to taxpayers.
Bisignano said the combination amounted to a formula any growing business would recognize.
“What we saw is something that was never saw [sic] before was, you know, the largest dollar value of refunds ever given to Americans while we were able to increase revenue,” Bisignano said. “That’s a real great formula if you were a company and you were doing things, you’re investing and you’re growing.”
The commissioner said the IRS also delivered refunds faster than in previous years, with the money reaching taxpayers quickly after filing.
“We service the American public in a way they were never served before,” Bisignano said. “Of those refunds were in their account 90 percent of the time less than 21 days. That wasn’t what happened previously.”
Treasury Department figures released during the filing season showed the average refund topped $3,400, an increase of 11 percent over the prior year, with more than 53 million filers claiming at least one of President Donald Trump’s signature tax cuts. Bisignano testified in March that direct-deposit refunds were arriving in bank accounts nine days after filing on average.
The commissioner tied the law to a broader wave of business creation, arguing the administration is driving innovation and new company formation reflected in IRS data.
“You see what’s happening everywhere, technology, and that’s where the startup boom will always be. It’ll be an innovation,” Bisignano said. “We’re fueling innovation across the country.”
Bisignano acknowledged not every economic indicator would satisfy critics but predicted the administration’s approach would produce lasting gains.
“I think if you look at what the administration has done, what the secretary has done, what the president has driven, will end up with a growing economy, more money in Americans’ pockets ultimately,” he said. “This is a long-term set of investments we’re making for America.”
The interview came as the Trump administration touts economic gains ahead of the November midterms. His comments followed a Breitbart News “State of the Economy” event on September 8, where Treasury Secretary Scott Bessent pointed to record tax refunds and a surge in business formation, crediting the administration’s pro-growth policies.
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