The Deduction

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

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). The conversation covers the origins and implications of these tariffs, their economic impact on consumers and businesses, and the potential outcomes of the court ruling. They also explore the broader theme of presidential authority in trade regulation and the possible legislative responses. Stay tuned for an insightful breakdown of the tariff landscape and its future implications.  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 Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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?  Kyle Hulehan is joined by Jared Walczak, Vice President of State Projects at Tax Foundation, to unpack the math behind replacement plans, the trade-offs voters should know about, and why reform may beat repeal. Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

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

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