The Deduction

Latest Episodes:

Are Trump’s Tariffs Legal? Here’s What the Courts Say May 29, 2025

Show notes

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

The One Big Beautiful Bill, Explained May 20, 2025

Show notes

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://taxfoundation.org/research/all/federal/big-beautiful-bill-house-gop-tax-plan/
https://taxfoundation.org/blog/house-tax-plan-economic-growth-impact-business-tax-permanent/

Support the show

What Happens If Social Security Runs Out in 2035? May 07, 2025

Show notes

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 show

The Truth About Tariffs—Fact-Checking Trump’s Trade Claims Apr 04, 2025

Show notes

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 show

Understanding the 5 Most Critical Tax Issues in Today’s Debate Apr 02, 2025

Show notes

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 show

Understanding the Property Tax Mar 05, 2025

Show notes

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 show

The High Stakes of Sports Betting Taxes Feb 11, 2025

Show notes

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 show

Trump’s Tariff War Returns Feb 05, 2025

Show notes

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 the Election

Why the Economic Effects of Taxes (Including Tariffs) Matter
Five Things To Know About Trump’s Income Tax and Tariffs Idea

Support the show

Will Your Taxes Go Up? Best- and Worst-case Scenarios for Tax Reform in 2025 Jan 22, 2025

Show notes

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.

Tax Calculator: How the TCJA’s Expiration Will Affect You See more
Expiring TCJA Tax Provisions in 2026 Would Produce Substantial Tax Hike across the US See more
Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations See more
A Tax Reform Plan for Growth and Opportunity: Details & Analysis See more

Support the show

What Should Taxpayers Expect in 2025? Dec 23, 2024

Show notes

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

Our TOPPODCAST Picks

Follow Us

Stay Connected

Related Podcasts

Links

Stay Connected