The Deduction

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 stage for future tax policy debates.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

Congress is in a rush to finalize a major tax bill, sparking debates over key provisions like the SALT deduction. There's a clash between the House and Senate on whether to implement temporary fixes or permanent reforms. The implications for national debt and fiscal policy are front and center, as rising interest payments loom large. Listeners will also learn about the complex legislative process behind the scenes, including potential amendments and the shared responsibilities of citizens in shaping fiscal policy.

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 showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

Garett Watson, Director of Policy Analysis at the Tax Foundation, dives into the intricacies of the House GOP’s new tax package. He discusses the blend of permanent and temporary provisions, highlighting the impact on long-term investments. The conversation also explores the controversial state and local tax (SALT) deduction cap, analyzing its effects on high-income states. Watson stresses the need for tax stability and advocates for simplifying complex provisions to support a broader spectrum of taxpayers while fostering economic growth.

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 showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

Garett Watson, Director of Policy Analysis at the Tax Foundation, joins to dive deep into the House GOP's One Big Beautiful Bill, which seeks to make parts of the 2017 tax overhaul permanent. They discuss who stands to gain the most from this sweeping tax package and the broader economic implications. Watson sheds light on the delicate balance between stimulating growth and managing the national deficit. The conversation also touches on contentious issues like the SALT cap and the potential long-term effects on taxpayers.

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-changed-over-time/https://taxfoundation.org/research/all/federal/social-security-reform-options/https://taxfoundation.org/blog/medicare-social-security-tax-spending-deficits/https://taxfoundation.org/research/all/federal/us-debt-budget-taxes-spending-social-security-medicare/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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.org/blog/trump-reciprocal-tariffs-calculations/https://taxfoundation.org/blog/trump-tariffs-prices-long-term-effects/https://taxfoundation.org/topics/tariffs-and-trade/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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 the role of tariffs in tax policy.  Links: https://taxfoundation.org/podcast/all/understanding-property-taxes/https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/https://taxfoundation.org/blog/global-tax-agreement/https://taxfoundation.org/blog/flat-tax-state-income-tax-reform/https://taxfoundation.org/blog/inflation-reduction-act-ira-credits-repeal-reform/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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 the housing market. Links: https://taxfoundation.org/research/all/state/property-tax-relief-reform-options/https://taxfoundation.org/data/all/state/property-taxes-by-state-county/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show