The Deduction

Most Americans don't understand how the tax code works, and it's costing them. In this episode of The Deduction, host Kyle Hulehan sits down with Zoe Callaway, VP of Education at Tax Foundation, to talk about tax and financial literacy in America. They dig into the results of Tax Foundation's national survey on tax literacy, the most stubborn misconceptions people have about taxes (...

Should you have to file a tax return in a state where you babysat for one hour? In 22 states, the answer is technically yes. In this episode of The Deduction, host Kyle Hulehan and co-host Erica York sit down with Katherine Loughead, Director of State Tax Projects at the Tax Foundation, to break down the tangled mess of state nonresident income tax laws — and why they're a growing problem in...

On April 2, 2025, President Trump announced sweeping "reciprocal" tariffs on Liberation Day, promising an investment boom, massive revenue, debt reduction, and lower prices. One year later, Kyle Hulehan and Erica York dig into the data to see how those promises held up. 0:00 - Liberation Day speech recap 2:00 - Were the tariffs actually "reciprocal"? 5:30 - The real math behind...

AI is everywhere, and now it's in the tax policy debate. In this episode of The Deduction, hosts Kyle Hulehan and Erica York sit down with Alex Muresianu, Senior Policy Analyst at the Tax Foundation. Together they examine what current labor market data actually shows, why proposals from Senators Sanders and Kelly risk backfiring, and what smarter reforms like worker retraining deductions and...

Last Friday, the Supreme Court struck down President Trump’s IEEPA tariffs in a landmark 6-3 decision. In this episode of The Deduction, hosts Kyle Hulehan and Erica York break down what the ruling actually means, from how collections could be refunded to how the administration is already scrambling to put new tariffs in place. Erica walks through why businesses may face even more uncertainty in t...

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 project...

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,...

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...

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 o...

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 benef...

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 e...

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 alternati...

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 faili...

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...

Congress is racing to pass the One Big Beautiful Tax Bill before the July 4  deadline. In this episode, Kyle Hulehan and Erica York break down what just  happened over the weekend, what’s actually in the bill, and what comes  next as the House and Senate try to reconcile their differences. Learn more:  “Big Beautiful Bill” Senate GOP Tax Plan: Preliminary Details and Analysis:  https://taxfoundati...

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 show Follow us! https://twitter...

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? Kyle Hulehan and Erica York are joined by Garett Watson, Director of Policy Analysis at the Tax Foundation, to break down the good, the bad, and th...

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 Follow us! https://twitter.com/TaxFoundation https://twitter.com/deductionpod Support the show

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: ...

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 r...

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://taxfoun...

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 Inf...

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 lev...

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/ htt...

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...