The Deduction

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

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

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

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