US Treasury Secretary Bessent Says Early Start To 2026 Tax Season Will Boost Economy

2026-01-08 03:20:02

(MENAFN- Live Mint) US Treasury Secretary Scott Bessent announced on Thursday (January 9) that the 2026 federal tax filing season will begin on January 26, one of the earliest starts in a decade. Speaking at the Economic Club of Minnesota, Bessent said the early start would act as a tailwind for the US economy by allowing benefits from Republican-passed tax breaks to reach Americans more quickly.

“The early start to the tax season will help flow the benefits of recent tax legislation directly to American families and businesses,” Bessent said.

Call for Federal Reserve support

Bessent also urged the Federal Reserve to maintain an“open mind” when setting monetary policy and to actively support investment.

“The Federal Reserve must do its part to help spur investment,” he said, emphasizing the importance of central bank cooperation in sustaining economic growth.

Economic context

The remarks come amid ongoing debates over interest rates and monetary policy as the Fed prepares for its next meeting later this month. Bessent's comments reinforce the Treasury Department's position that policy measures-including early tax refunds and supportive Fed action-can help stimulate investment and consumer spending in 2026.

Also Read | IRS opens 2026 filing season amid new tax law changes

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