Tax refunds surge 17% due to new tax code provisions
The US saw a 17% increase in tax refunds, driven by exemptions on tips and overtime, as well as an expanded child tax credit.
Retail sales reached $757 billion in April 2026, with disposable income per capita rising to $68,359.
The standard deduction for 2026 will be $32,200 for married couples, $16,100 for single filers, and $24,150 for heads of household.