Evening Wire: Europe’s Glacial Response & Tax Cuts Tested | 4.15.26

The White House touted the impact of Trump-era tax cuts on tax day, with Press Secretary Caroline Levitt reporting that the average refund this filing season is more than $3,400 and that the administration has "issued more refunds in larger refunds than in any year of the history of our country." Five million families have filed for Trump Accounts for their children, with 1.2 million of those eligible for the $1,000 seed bonus. The accounts, which function similarly to an IRA with families able to contribute up to $5,000 per year, officially launch on July 4th. Children born between 2025 and 2028 will receive a $1,000 seed investment from the Treasury Department.

Europe Steps Up for Hormuz — Without the US

After weeks of pressure from the Trump administration, European leaders are assembling a broad coalition to police the Strait of Hormuz and reopen shipping lanes once the current conflict ends. French President Emmanuel Macron and UK Prime Minister Keir Starmer are expected to lead dozens of countries in an online conference to discuss post-war plans. The coalition may include Germany, which has historically faced high hurdles to overseas military involvement since World War II but has deeper pockets than most other expected participants.