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. 

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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 the ugly: who benefits, what it could mean for the economy, and how it might reshape your tax bill.

Learn more: 

Budget Reconciliation Tracker: https://taxfoundation.org/research/all/federal/trump-tax-cuts-2025-budget-reconciliation/

“Big Beautiful Bill” House GOP Tax Plan: Preliminary Details and Analysis: https://taxfoundation.org/research/all/federal/big-beautiful-bill-house-gop-tax-plan/

The Good, the Bad, and the Ugly in the One, Big, Beautiful Bill: https://taxfoundation.org/blog/one-big-beautiful-bill-pros-cons/

House Tax Package Could Double Economic Growth Impact by Prioritizing Permanence for TCJA Business Provisions: https://taxfoundation.org/blog/house-tax-plan-economic-growth-impact-business-tax-permanent/

A More Generous SALT Deduction Cap in the Big, Beautiful Bill Would Cost Revenue and Primarily Benefit High Earners: https://taxfoundation.org/blog/salt-deduction-cap-increase-proposal-analysis/

House “One Big Beautiful Bill” Riddled with Temporary Tax Policy: https://taxfoundation.org/blog/house-one-big-beautiful-bill-temporary-tax-policy/

Current Trump Tariffs Threaten to Offset Benefits of Promised Tax Cuts: https://taxfoundation.org/blog/trump-tariffs-tax-cuts/

House GOP’s Approach to the IRA Clean Energy Tax Credits: Five Things to Know: https://taxfoundation.org/blog/ira-clean-energy-tax-credits-house-gop-ways-means-bill/

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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.

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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/

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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/

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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/

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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/

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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/

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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/

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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

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