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The Deduction is your guide to the complicated world of tax and economics. From the impacts of tariffs and trade wars to debates over who pays and how much, each episode, our experts untangle another aspect of the tax code. Listen to the leading tax podcast! Have a question for one of our experts, let us know here: https://taxfoundation.org/mailbag. Follow us on Twitter @deductionpod: https://twitter.com/deductionpod
112 Episodes
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Congress may have passed the One Big Beautiful Bill Act (OBBBA), but state lawmakers now face big choices. Most states link their tax codes to the federal system, meaning OBBBA’s provisions—good and bad—are about to ripple across state budgets. In this episode, we explain why federal tax changes can automatically affect your state tax bill, the costly new personal deductions with limited benefits, and the pro-growth business provisions that remove barriers to investment and jobs...
Trump’s 2025 tariffs will hit nearly three-quarters of US food imports, raising prices on products that are often difficult or impossible to produce domestically. Senator Hawley has proposed a rebate program to return some of the revenue to households—but would it actually help? Kyle Hulehan is joined by Alex Durante, Senior Economist at the Tax Foundation, to unpack how these tariffs work, the economic trade-offs of a rebate, and why repealing tariffs may be the most effective solutio...
They’re popular, highly visible, and marketed as tax relief—but research shows sales tax holidays are inefficient, create compliance headaches, and often miss the mark for the taxpayers they’re meant to help. Kyle Hulehan is joined by Katherine Loughead, Senior Policy Analyst and Research Manager at the Tax Foundation. Together, they break down why these policies persist—and what better alternatives might look like. Support the show Follow us! https://twitter.com/TaxFoundation htt...
Who are Trump Accounts really for, and will they actually help families save? With yet another savings vehicle added to an already confusing system, do these accounts solve a real problem—or just add more complexity? In this episode, we break down what Trump Accounts are, how they work, and why they might not be the game-changer they sound like. We also explore why the U.S. savings system is failing most Americans and what a simpler, universal approach could look like. Support the show Follow...
The One Big Beautiful Bill is now law—but what does it actually do? In this episode, we break down the new tax law’s key provisions, including who benefits, who doesn’t, and what it means for the economy, tax certainty, and the federal deficit. Kyle Hulehan is joined by Daniel Bunn, President and CEO of Tax Foundation, and Garrett Watson, Director of Policy Analysis. Together, they dive into the bill’s temporary vs. permanent changes, its international implications, and how it sets the...
Congress is racing to pass the One Big Beautiful Tax Bill before the July 4 deadline. In this episode, Kyle Hulehan and Erica York break down what just happened over the weekend, what’s actually in the bill, and what comes next as the House and Senate try to reconcile their differences. Learn more: “Big Beautiful Bill” Senate GOP Tax Plan: Preliminary Details and Analysis: https://taxfoundation.org/research/all/federal/big-beautiful-bill-senate-gop-tax-plan/ ...
The House-passed reconciliation bill leaves out Trump’s promise to eliminate taxes on Social Security benefits, opting instead to expand the standard deduction for seniors. In this episode, Kyle Hulehan and Erica York are joined by Alex Durante to unpack how the deduction works, who benefits most, and how it compares to repealing Social Security taxes. Support the show Follow us! https://twitter.com/TaxFoundation https://twitter.com/deductionpod Support the show
From generous tax breaks to costly trade-offs, the House GOP’s One, Big, Beautiful Bill has a little of everything. It’s a sweeping attempt to extend key provisions of the 2017 Tax Cuts and Jobs Act before they expire in 2026—but what’s actually in it? Kyle Hulehan and Erica York are joined by Garett Watson, Director of Policy Analysis at the Tax Foundation, to break down the good, the bad, and the ugly: who benefits, what it could mean for the economy, and how it might reshape your tax bill...
It’s been a whirlwind 24 hours in tariff news: first, a trade court blocked Trump’s sweeping new tariffs, calling them executive overreach. Then, a federal appeals court reinstated them—at least for now. We break down what happened, what’s next, and why it matters. Support the show Follow us! https://twitter.com/TaxFoundation https://twitter.com/deductionpod Support the show
We break down the House GOP’s One, Big, Beautiful Bill—a sweeping tax package designed to extend key parts of the 2017 Tax Cuts and Jobs Act before they expire in 2026. Kyle Hulehan is joined by Garett Watson, Director of Policy Analysis at the Tax Foundation, to unpack what’s actually in the bill, who benefits the most, and how it could impact the economy, federal revenue, and your taxes. Links: https://taxfoundation.org/blog/house-one-big-beautiful-bill-temporary-tax-policy/ https:...
What happens when the country’s most important retirement program runs out of money? Social Security faces a funding crisis by 2035. We unpack how the system works, why it’s in trouble, and what fixes could keep it afloat. Kyle Hulehan and Erica York are joined by Alex Durante, Senior Economist at the Tax Foundation. Together, they break down the trade-offs behind today’s biggest Social Security reform ideas. Links: https://taxfoundation.org/blog/how-the-payroll-tax-base-has-chang...
Do tariffs really level the playing field, or are they just bad economics? In this emergency episode, we fact-check the Trump administration’s claims that retaliatory tariffs make trade fairer. Kyle Hulehan and Erica York break down the flawed research behind these arguments, explain who actually pays for tariffs, and discuss their real impact on businesses and consumers. Links: https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/ https://taxfoundation...
What are the biggest tax stories shaping policy today—and what do they mean for you? In our 100th episode, we break down the five biggest tax stories, from the global tax deal to the looming expiration of the Tax Cuts and Jobs Act. Kyle Hulehan and Erica York are joined by Daniel Bunn, President and CEO of Tax Foundation, and Garrett Watson, Director of Policy Analysis. We also dive into the Inflation Reduction Act, the CHIPS and Science Act, the rise of flat taxes in states, and ...
With property tax bills on the rise, homeowners are searching for answers—and some even want to abolish the tax altogether. In this episode, we break down why property taxes are increasing, discuss common but flawed solutions, and explain why the property tax remains an economically efficient revenue source. Senior Policy Analyst Manish Bhatt joins hosts Kyle Hulehan and Erica York to explore levy limits, circuit breakers, and policy reforms that could provide relief without distorting...
How should states approach the unique challenges and opportunities presented by sports betting? In this episode, Adam Hoffer, Director of Excise Tax Policy at the Tax Foundation, joins Kyle Hulehan to unpack the intricacies of sports betting tax policy during one of the biggest betting events of the year—Super Bowl 59. https://taxfoundation.org/research/all/state/sports-betting-tax-revenue/ https://taxfoundation.org/data/all/state/sports-betting-taxes-by-state-2024/ Support the ...
Are tariffs making everything more expensive? With Trump’s new tariff plans hitting $1.1 trillion in imports—far more than his first term—prices could rise for businesses and consumers alike. Kyle Hulehan and cohost Erica York break down who really pays for tariffs, why they hurt lower-income Americans most, and whether they worked the first time around. Links: Trump Tariffs: Tracking the Economic Impact of the Trump Trade War Questions About Tax Cuts, Tariffs, and Reconciliation After t...
What will the future of tax policy look like? In this episode, we dive into the critical challenges and opportunities looming on the horizon, especially with major tax cuts set to expire, which could increase taxes for 62 percent of filers. Kyle Hulehan and Erica York are joined by Daniel Bunn, President and CEO of the Tax Foundation. Together, they explore what needs to happen in tax policy this year to avert a fiscal crisis, discussing the best- and worst-case scenarios for taxpayers....
What do you need to know to prepare for the upcoming tax year? Joining Kyle Hulehan is Erica York, Senior Economist and Research Director. In this episode, they gear you up for 2025 by discussing key tax dates to mark on your calendar and the latest news affecting tax policy. Erica also shares insights from her recent congressional testimony on tariffs. Links: https://taxfoundation.org/testimony/t... https://taxfoundation.org/blog/trump-... Support the show Fo...
What happens to your taxes when the Tax Cuts and Jobs Act expires on January 1, 2026? In this episode, we explore the potential tax hikes facing millions of Americans and the debate over measuring the budgetary impacts of extending tax cuts. Kyle is joined by Erica York, Senior Economist and Research Director, along with Garrett Watson, Senior Policy Analyst and Modeling Manager at the Tax Foundation. Together, they compare current policy with current law baselines and dive into how th...
Join us on November 15th at 12:00 pm EST for our upcoming webinar as our experts seek to answer this question and provide insight on many more. Our experts will recap the election and provide insights on what to expect in 2025. We will also take some time to explore what US tax and trade policy shifts could mean for other countries, particularly in Europe. Tax Foundation’s President & CEO Daniel Bunn will lead a discussion with Tax Foundation’s own Will McBride and Erica York, who will fo...
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