Explore every episode of the podcast The Deduction
| Title | Pub. Date | Duration | |
|---|---|---|---|
| 2025 Tax Review | What OBBBA Changed, the Impact of Tariffs, and What’s Next | 17 Dec 2025 | 00:51:58 | |
The One Big Beautiful Bill Act capped off a hectic year for tax policy. It extended key Tax Cuts and Jobs Act provisions, reshaped the outlook for 2026, and raised fresh questions about the deficit. In this episode, Kyle Hulehan and Erica York are joined by Daniel Bunn, President and CEO, and Jared Walczak, Vice President of State Projects, to break down what the law did, walk through our projections, and zoom out to other defining fights of 2025: Trump's "Liberation Day" tariffs, the Supreme Court challenge over presidential tariff power, and the growing wave of property tax revolts across the states.
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| Trump’s Tariffs Head to the Supreme Court | 02 Nov 2025 | 00:25:58 | |
In this episode of The Deduction podcast, host Kyle Hulehan and co-host Erica York are joined by Alex Durante, Senior Economist at the Tax Foundation, to discuss the Supreme Court's upcoming decision on whether the president can impose $2.2 trillion in tariffs under the International Emergency Economic Powers Act (IEEPA). 00:00 Introduction and Bananas 00:36 Welcome to The Deduction Podcast 01:15 Tariffs and Presidential Authority 04:15 Impact of Tariffs on Consumers and Businesses 06:58 Bananas as a Case Study 08:42 Personal Stories of Tariff Impact 10:43 Legal Battle Over Tariffs 14:25 Future of Tariff Policies 20:53 Congress vs. Presidential Power 23:32 Conclusion and Listener Engagement Follow us! | |||
| Breaking Down the Senior Deduction in the One, Big, Beautiful Bill | 17 Jun 2025 | 00:17:08 | |
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. Follow us! | |||
| G7 Agrees to Global Minimum Tax | 14 Jun 2021 | 00:35:41 | |
One of the hottest topics in the tax world today is the recent announcement by G7 finance ministers that they would support enacting a new, 15 percent global minimum tax. Follow us! | |||
| States Consider Digital Taxes Amidst Conflicting Rationales | 07 Jun 2021 | 00:27:47 | |
Across the U.S., policymakers of both parties have developed a strong interest in taxing large technology companies through digital advertising taxes, social media taxes, and data taxes. Follow us! | |||
| Pleading GILTI: A Guide to the Complicated World of Global Intangible Low Tax Income | 24 May 2021 | 00:24:27 | |
Policymakers in Washington are edging closer to a deal on an infrastructure package. But while many believe it will be an economic boon to workers across the country, one provision tucked deep into the American Jobs Plan could jeopardize jobs across the country. Follow us! | |||
| Recreational Marijuana Taxes | 02 Apr 2021 | 00:35:51 | |
Tax Foundation President Scott Hodge is joined by Senior Policy Analyst Ulrik Boesen to discuss the taxation of cannabis (marijuana). Follow us! | |||
| The World of Excise Taxation | 22 Mar 2021 | 00:28:07 | |
Senior Policy Analyst Ulrik Boesen joins Tax Foundation President Scott Hodge discuss and explore the wide and varied world of excise taxation. Follow us! | |||
| How Should R&D Be Taxed? | 08 Mar 2021 | 00:32:30 | |
Tax Foundation President Scott Hodge is joined by economist Erica York and Senior Policy Analyst Garrett Watson to answer a question U.S. policymakers have been asking for decades: how should we tax research and development (R&D)? R&D is more important than ever as pharmaceutical companies and governments around the world invest in coronavirus research and supply chains. Follow us! | |||
| Interview: Ken Kies, former Joint Committee on Taxation (JCT) Chief of Staff | 22 Feb 2021 | 00:28:27 | |
Tax Foundation President Scott Hodge interviews Ken Kies, former Chief of Staff for the Joint Committee on Taxation (JCT) from 1995 to 1998. Follow us! | |||
| Understanding Tariffs | 08 Feb 2021 | 00:28:03 | |
Economist Erica York joins Scott Hodge, President Emeritus and Senior Policy Advisor at the Tax Foundation, to discuss one of the most misunderstood issues in tax policy: tariffs. Follow us! | |||
| Congressional Budget Reconciliation | 25 Jan 2021 | 00:33:53 | |
Rohit Kumar, principal and leader of PwC's Washington National Tax Services Tax Policy Services group in Washington, D.C., joins Tax Foundation President Scott Hodge to discuss the congressional budget reconciliation process: what it is, how it works, and the role that politics will play in it for the 117th Congress as well as President Biden's policy agenda. Follow us! | |||
| Digital Services Taxes | 12 Jan 2021 | 00:25:15 | |
The digitalization of the global economy has brought with it increased opportunity and connectedness, but also new business models that elude existing tax structures. In this episode of The Deduction, we explore the “digital services tax” (DST), one new and increasingly popular policy designed to address the digital economy. Follow us! | |||
| One, Big, Beautiful Bill: The Good, the Bad, and the Ugly | 02 Jun 2025 | 00:24:44 | |
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? Follow us! | |||
| Corporate Tax Rates Around the World | 14 Dec 2020 | 00:26:01 | |
What is driving the downward trend in corporate tax rates and will it continue? Is it truly a "race to the bottom?" Why do corporate tax rates matter in the first place? How does the U.S. rate compare and could that change in the coming years? Follow us! | |||
| Taxing Times: One Virginia Brewer’s Experience During COVID-19 | 17 Nov 2020 | 00:30:38 | |
On this episode, we take a more personal look at taxes and particularly their effects on small businesses and entrepreneurs facing the challenges of the COVID-19 pandemic. Follow us! | |||
| The Future of Tax Policy with Douglas Holtz-Eakin | 14 Nov 2020 | 00:27:30 | |
What do election results mean for the future of the federal tax code? What role will tax policy play in curbing the economic effects of the COVID-19 pandemic? How should policymakers address the federal deficit and could a carbon tax be part of that solution? How much of President-elect Joe Biden's pre-election tax plan will actually come to pass? Follow us! | |||
| 2020 State Tax Ballot Initiatives and the Future of State Tax Policy | 26 Oct 2020 | 00:30:43 | |
They may not draw as much attention as elections for office, but Election Day 2020 will also feature a number of important votes on tax-related ballot initiatives in states around the country. What are the ballot measures taxpayers should be paying attention to this year and what could they mean for the future of state tax policy? Tax Foundation Vice President of State Projects Jared Walczak and Senior Policy Analyst Katherine Loughead break down measures ranging from recreational marijuana legalization in New Jersey and Montana to income tax increases in Illinois and Arizona. Follow us! | |||
| Who Will Pay for the Roads? The Future of Transportation Taxes | 12 Oct 2020 | 00:22:43 | |
Some post-COVID projections show the highway trust fund running out as early as 2021. Meanwhile, most state gas taxes are losing value every year due to inflation. What can the U.S. do to raise the revenue needed for infrastructure upkeep and accurately internalize the costs associated with road usage? Follow us! | |||
| Joe Biden’s Tax Plan Explained | 25 Sep 2020 | 00:37:32 | |
Depending on the outcome of the 2020 presidential election, we could be looking at a very different tax code in the years to come. What tax changes has former Vice President Joe Biden proposed and what would they mean for U.S. taxpayers, businesses, and the overall economy? Follow us! | |||
| Are Trump’s Tariffs Legal? Here’s What the Courts Say | 29 May 2025 | 00:08:58 | |
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. Follow us! | |||
| The One Big Beautiful Bill, Explained | 20 May 2025 | 00:17:08 | |
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. Follow us! | |||
| What Happens If Social Security Runs Out in 2035? | 07 May 2025 | 00:39:06 | |
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/ Follow us! | |||
| The Truth About Tariffs—Fact-Checking Trump’s Trade Claims | 04 Apr 2025 | 00:23:16 | |
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. https://taxfoundation.org/topics/tariffs-and-trade/ Follow us! | |||
| Understanding the 5 Most Critical Tax Issues in Today’s Debate | 02 Apr 2025 | 00:48:21 | |
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/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/ Follow us! | |||
| Understanding the Property Tax | 05 Mar 2025 | 00:17:31 | |
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. Follow us! | |||
| The High Stakes of Sports Betting Taxes | 11 Feb 2025 | 00:26:01 | |
How should states approach the unique challenges and opportunities presented by sports betting? https://taxfoundation.org/data/all/state/sports-betting-taxes-by-state-2024/ Follow us! | |||
| Trump’s Tariff War Returns | 05 Feb 2025 | 00:19:07 | |
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. Why the Economic Effects of Taxes (Including Tariffs) Matter Follow us! | |||
| Can We Replace the Property Tax? | 07 Oct 2025 | 00:23:56 | |
Property tax repeal would put roughly 70 percent of local tax revenue on the line—forcing states and localities to find something else. Can sales or income taxes really replace it without major rate spikes, burden shifts, and anti-growth incentives? Follow us! | |||
| Will Your Taxes Go Up? Best- and Worst-case Scenarios for Tax Reform in 2025 | 22 Jan 2025 | 00:20:02 | |
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. They also highlight how this year can serve as a vital reset for lawmakers and what key policies are at the top of Daniel’s wish list.
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| What Should Taxpayers Expect in 2025? | 23 Dec 2024 | 00:09:02 | |
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.
https://taxfoundation.org/blog/trump-... Follow us! | |||
| Behind the Numbers: Budget Shenanigans and the National Debt | 11 Dec 2024 | 00:29:22 | |
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. Follow us! | |||
| Webinar | The Future of US Tax Policy in 2025 | 15 Nov 2024 | 00:59:44 | |
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 focus on what the election means for US federal tax policy, and Sean Bray, who will link US tax developments to the European policy landscape. Follow us! | |||
| Post-Election Analysis: Trump’s Tax Plans and Economic Impact | 08 Nov 2024 | 00:12:31 | |
Join hosts Kyle Hulehan and Erica York in this episode of The Deduction as they break down the US tax policy implications of Donald Trump’s next presidential term. With the GOP gaining control over the White House and likely both chambers of Congress, the discussion centers around potential legislative changes, the future of tax cuts, and the impact of tariffs on everyday taxpayers. Get insights into what Trump’s tax extensions and new proposals could mean for the economy, federal revenue, and household finances. Links: https://taxfoundation.org/blog/trump-tariffs-revenue-estimates/ https://taxfoundation.org/blog/largest-tax-increase-harris-trump/ Follow us! | |||
| Election Insights | Can Trump's Tariff Plan Really Replace the Income Tax? | 30 Oct 2024 | 00:18:30 | |
Can tariffs truly replace income taxes in today’s economy? In this episode, we examine the bold and controversial proposal from former President Trump to replace income taxes with tariffs. What would this dramatic shift mean for everyday Americans, particularly those with lower incomes? And would it actually work? Follow us! | |||
| Election Insights | Tax Hikes Are Coming, Regardless of Who’s in the White House | 23 Oct 2024 | 00:13:11 | |
Are tax increases on the horizon in 2025, no matter who takes office? In this episode, we explore why changes to the tax code could hit your wallet, regardless of which party comes out on top. Joining Kyle Hulehan is Erica York, Senior Economist and Research Director. They break down the expiration of the Tax Cuts and Jobs Act, Trump’s plans for the tax code, and Harris’s proposals to raise taxes. Links
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| Can US Tax Reforms Keep Up with China? | 16 Oct 2024 | 00:31:52 | |
How does tax policy shape a nation's competitiveness? Today, we’re diving into the showdown between the US and China, exploring how China’s enticing tax incentives pose a formidable challenge to America’s economic supremacy. Joining Kyle is Alex Muresianu, Senior Policy Analyst at the Tax Foundation. Together, they explore how changes to US corporate taxes, including the restoration of full expensing for research and development, could be the key to ensuring America remains competitive on the global stage.
https://taxfoundation.org/research/all/federal/us-chinese-economy-investment-manufacturing/ Follow us! | |||
| Election Insights | How to Fix Trump’s and Harris’s Tax Plans | 09 Oct 2024 | 00:20:13 | |
Neither presidential candidate has a perfect tax plan. But what changes could Trump and Harris make to their respective tax plans to better serve American workers and the economy? In this episode, we dissect their plans and provide practical solutions for improvement. Follow us! | |||
| Election Insights | Whose Plan Wins? Trump vs. Harris on Taxes | 25 Sep 2024 | 00:14:34 | |
What do the contrasting tax proposals of Vice President Kamala Harris and former President Donald Trump mean for Americans as the 2024 election approaches? In this episode, we dive into the Tax Foundation's modeling of both candidates' plans, shedding light on how these proposals could impact Americans. Joining Kyle Hulehan is Erica York, Senior Economist and Research Director. Together, they'll chat about the major economic implications of each candidate’s proposals, from national debt to economic growth. https://taxfoundation.org/research/all/federal/donald-trump-tax-plan-2024/ https://taxfoundation.org/research/federal-tax/2024-tax-plans/ https://taxfoundation.org/blog/trump-overtime-tax-exemption/ Follow us! | |||
| Is the OBBBA a Step Back for Tax Simplicity? | 23 Sep 2025 | 00:25:12 | |
In this episode of The Deduction, host Kyle Hulehan discusses the complexities of the US tax system with Alex Muresianu, Senior Policy Analyst at the Tax Foundation. They delve into the staggering 7.1 billion hours Americans spend on tax compliance every year, and explore the impact of the One Big Beautiful Bill Act on simplifying and complicating the tax code. Key topics include the permanence of the Tax Cuts and Jobs Act provisions, the introduction of new deductions, and the challenges and missed opportunities for structural tax reform. They also discuss the significant costs associated with tax compliance and suggest potential reforms for the future. Join us for an insightful conversation on the intricacies of the US tax system and the path ahead. Links: https://taxfoundation.org/research/all/federal/obbba-income-tax-complexity-tax-breaks/ https://taxfoundation.org/research/all/federal/one-big-beautiful-bill-act-tax-changes/ Follow us! | |||
| Bob Stack Unpacks US Challenges in Global Tax | 17 Sep 2024 | 00:27:59 | |
What are the key challenges facing global tax policy today? Bob Stack, an international tax expert, explores the implications of the EU’s adoption of Pillar Two and the potential for streamlining overlapping policies. He also addresses the issues that the US faces in global tax policy with the upcoming elections. In this insightful discussion, Bob dives into these pressing issues, drawing on his extensive experience at the US Department of the Treasury. He offers valuable insights into the OECD Inclusive Framework and the transformative Pillar Two. Links: https://taxfoundation.org/blog/pillar-two-unintended-consequences/ https://taxfoundation.org/blog/global-tax-agreement/ Follow us! | |||
| Election Insights | Trump on Taxes, Tariffs, & Harris’s Economic Plans | 11 Sep 2024 | 00:14:26 | |
While tax policy was almost nonexistent in the first debate between Vice President Kamala Harris and former President Donald Trump, this episode will explore each candidate’s latest proposals in greater depth. We’ll break down Kamala Harris's updated tax plan, highlighting her capital gains adjustments and new deductions for startups. We’ll also take a closer look at Trump’s plans for tax cuts and tariffs, discussing what they could mean for American families and businesses. Erica York, Senior Economist and Research Director, joins Kyle Hulehan to discuss the debate. We’ll highlight the key issues likely to be discussed and consider the serious implications for national debt and economic growth. https://taxfoundation.org/research/all/federal/kamala-harris-tax-plan-2024/ Follow us! | |||
| Election Insights | Taxes, Kamala Harris, and the DNC’s Vision | 28 Aug 2024 | 00:11:22 | |
Dive into the highlights from the DNC as we break down Vice President Kamala Harris's tax proposals and their potential impact on everyday families. What do higher taxes on businesses and the wealthy mean for working Americans? Links: https://taxfoundation.org/blog/tim-walz-tax-policies/ Follow us! | |||
| Do Americans Abroad Still Pay US Taxes? | 15 Aug 2024 | 00:31:22 | |
How does living abroad impact the taxes an American has to pay? Unlike most countries that tax based on residency, the US employs citizenship-based taxation, meaning Americans are taxed on their global income regardless of where they reside. This unique system creates a web of complexities, including stringent reporting requirements and potential penalties, which can leave many US citizens feeling overwhelmed. Follow us! | |||
| Pillar Two: Electric Boogaloo | 30 Jul 2024 | 00:33:57 | |
The global tax deal and Pillar Two are shaking up the tax landscape worldwide, introducing a web of complexity and confusion. Today, we untangle the key aspects of these proposals, diving into the latest updates, compliance hurdles, and their ripple effects on industries and smaller nations. Join Daniel Bunn, President & CEO of the Tax Foundation, and Senior Economist Alan Cole, as they sit down with Kyle Hulehan to explore what the future holds for global taxation and what it means for the United States. Follow us! | |||
| Tax Cuts vs. Tax Reform | 09 Jul 2024 | 00:28:19 | |
Tax cuts vs. tax reform: what’s the real difference, and why does it matter? In this episode, we uncover why retroactive tax cuts and temporary tax breaks often miss the mark for long-term growth and how revenue-neutral tax reform can streamline the tax system without altering overall federal revenue. Erica York, Senior Economist and Research Director at the Tax Foundation, joins host Kyle Hulehan to reveal the true impact of tax policies on households and businesses and discuss how changes in marginal tax rates drive economic decisions. Links: https://taxfoundation.org/blog/unified-theory-misconceptions-tax-reform-debate/ Follow us! | |||
| A Big-Picture Look at Taxing the Wealthy | 25 Jun 2024 | 00:30:54 | |
Taxing wealth has become a hot-button issue in today’s political discourse, promising to reshape economic equality. But what are the real-world implications of such policies? In this episode, we dive into the contentious world of taxing wealth, examine how a progressive tax system aims to balance fairness and revenue generation, and explore the potential impacts and broader implications for economic policy and social equity. Garrett Watson, Senior Policy Analyst and Modeling Manager at the Tax Foundation, joins Kyle Hulehan to dissect the fundamentals of taxing wealth. They discuss the challenges of implementation, potential long-term consequences for the broader economy, and alternative policy options that could achieve progressivity while maintaining economic growth. Links: https://taxfoundation.org/blog/taxing-consumption-progressively-tax-the-wealthy/ https://taxfoundation.org/blog/federal-tax-code-progressive-rich/ https://taxfoundation.org/blog/us-pandemic-response-inequality-progressivity/ https://taxfoundation.org/research/all/federal/tax-fairness-funding-government-investments/ Follow us! | |||
| Trump and Biden’s Tariff Tango | 04 Jun 2024 | 00:34:07 | |
Tariffs are a hot topic this election cycle for both President Biden and former President Trump. But why are tariffs so popular despite their economic downsides? In this episode, we unpack tariffs’ role in the political playbook, their impact on manufacturing jobs and consumers, and the Biden administration's review of Trump-era tariffs.
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| A Journey Through Germany’s Tax Laws | 21 May 2024 | 00:33:22 | |
Get ready to hit the autobahn and explore the world of German taxes! We'll navigate the complexities of Germany’s corporate tax structure, including the combined federal and local rates, and unravel the complexities of local trade taxes and the real estate transaction tax, exploring their impact on businesses and property investments. Follow us! | |||
| From Gallons to Miles: Rethinking Road Taxes | 07 May 2024 | 00:32:17 | |
Buckle up as we navigate the twists and turns of infrastructure and road funding. As electric vehicles gain traction, traditional gas taxes are running out of fuel to support our infrastructure budget. Today, we're exploring how Vehicle Miles Traveled (VMT) taxes pave a more equitable and sustainable path for funding road maintenance and construction. Adam Hoffer, the Director of Excise Tax Policy, joins Kyle Hulehan to unpack the challenges and opportunities of VMT taxes. They will explore the innovative technologies used for mileage tracking and address the significant privacy concerns involved. Follow us! | |||