On Tax Day 2026, Scripps News spoke with Kelly Loeffler, head of the U.S. Small Business Administration, about how business owners and Americans as a whole are faring under the Trump administration's economic policies.IRS data h as showed a slight increase so far in the average American's tax return, but less than was forecast as tax season got underway.Loeffler said a clearer picture may emerge as more tax returns are processed."These are early returns we're talking about. Today is April 15. It's tax day, so we still have millions of more tax returns to process before we get to the final result... If Democrats had their way, instead of Republicans standing up for common sense, Americans would have been writing checks to the federal government."RELATED NEWS | Middle East war drives consumer sentiment to its lowest level in 70 yearsAmericans are receiving their returns as a U.S. blockade of Iranian shipping sends fresh unsteadiness through markets for energy and food, some of which depends on oil products and fertilizer moved through the Strait of Hormuz.Loeffler claimed that climbing prices for gasoline, groceries and other essentials would stabilize as the administration achieved its war objectives in the Middle East."Let's remember that Democrats are the party of high gas prices. Under Joe Biden in June 22 of 22 we reached $5 and above for gas prices... . This is a short term disruption that will provide long term price stability. Prices will go down lower than when they started, because what was built in was that potential volatility that always existed from having a terrorist government controlling so much of our incremental oil reserves. So now that threat is going to be eliminated, when we get through the diplomatic negotiations, and Americans will have more stability, more certainty and lower gas prices than ever."Watch the full interview with Loeffler in the video above. ...read more read less