The Deduction

Reconciliation. One word that drives D.C. crazy, yet has been the way some of Congress’s most monumental bills have become law. On this episode, host Jesse Solis is joined by federal tax policy experts Erica York and Garrett Watson to discuss why this complex budget process is back in the mix as Congress gears up to advance President Biden’s multi-trillion-dollar tax agenda. Support the show Follo...

The quick-moving world of cryptocurrency can be confusing and, at times, comical. On this episode of The Deduction , join Tax Foundation's Jesse Solis, Garrett Watson, and Alex Muresianu as they dive down the rabbit hole of cryptocurrency taxation. How should policymakers view crypto in the first place—as an asset, like stocks, or as a currency? How big is the issue of tax evasion in the cryp...

Increasing enforcement of existing laws instead of increasing taxes is an appealing way to raise revenue. But would stronger enforcement have costs for law-abiding taxpayers too?  On this episode of The Deduction, host Jesse Solis and Federal Policy Analyst Alex Muresianu discuss the tax gap, what it is, how the U.S. compares to other countries, and recent proposals aimed at closing it. They also...

As final state revenue figures come in for fiscal year 2021, many states are finding they are in a much healthier position than they ever would have anticipated this time last year. And as a result, a remarkable trend has emerged: so far in 2021, eleven states have responded by reducing income tax rates and making related structural reforms. On this episode of The Deduction , host Jesse Solis and...

If you've read any headlines in the last few months,  you've no doubt heard about the semiconductor shortage gripping global supply chain—and if you've tried to buy anything from a toaster to a car, you've witnessed it firsthand. But what's really driving today's crisis, can the U.S.  manufacture its way out of it,  and what role does tax and economic policy have to p...

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. On this episode of The Deduction, Scott Hodge is joined by Tax Foundation's Daniel Bunn and Elke Asen to discuss this agreement and answer an important question: how much weight does it really carry? We dive into the economi...

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. What is notably absent is any consistent rationale for these new proposals.  On this episode of the Deduction, Tax Foundation's Daniel Bunn and Jared Walczak untangle the complex and sometimes contradictory w...

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.  On this episode of The Deduction, we speak with Pam Olson, Tax Foundation Board Member and Consultant on Tax Policy Services at PwC, abo...

Tax Foundation President Scott Hodge is joined by Senior Policy Analyst Ulrik Boesen to discuss the taxation of cannabis (marijuana). The legalization and taxation of recreational marijuana remains one of the hottest trends in state taxation. New York recently became one of the latest states to legalize it. Join us as we dive into the complex world of marijuana taxation and explain how policymaker...

Senior Policy Analyst Ulrik Boesen joins Tax Foundation President Scott Hodge discuss and explore the wide and varied world of excise taxation. Marijuana, betting,  soda, ride-sharing—over the last decade, the excise tax family has grown significantly and it's more crucial than ever that lawmakers, businesses, and consumers understand the possibilities and, more importantly, limitations of ex...

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. But are the polici...

Tax Foundation President Scott Hodge interviews Ken Kies, former Chief of Staff for the Joint Committee on Taxation (JCT) from 1995 to 1998. Support the show Follow us! https://twitter.com/TaxFoundation https://twitter.com/deductionpod Support the show

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. Depending on your perspective, tariffs are either a great way to tax countries like China for their protectionist trade policies or they are a big reason why all those imported toys, clothing and holiday gifts cost more...

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. Prior to joining PwC, Mr. Ku...

The digitalization of the global economy has brought with it increased opportunity and connectedness, but also new business models that elude existing tax structures. Over the last several years, policymakers in countries around the world have groped for new ways to tax e-commerce, social media, cloud-based, and other online businesses, in some cases stoking major international trade disputes in t...

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? Tax Foundation Policy Analyst Elke Asen joins President Scott Hodge to discuss the latest data on corporate tax rates around the world.  Support t...

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. Over the past eight months, the U.S. has seen tens of thousands of small businesses close their doors, and we think it's important for us to do our part to highlight the role that tax policy can play in supporting small bus...

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? Tax Foundation President Scott Hodge and spec...

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 S...

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

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