Join hosts Kyle Hulehan and Erica York in this episode of The Deduction as they break down the US tax policy implications of Donald Trump’s next presidential term. With the GOP gaining control over the White House and likely both chambers of Congress, the discussion centers around potential legislative changes, the future of tax cuts, and the impact of tariffs on everyday taxpayers. Get insights into what Trump’s tax extensions and new proposals could mean for the economy, federal revenue, and household finances.

Links:
https://taxfoundation.org/research/all/federal/donald-trump-tax-plan-2024/

https://taxfoundation.org/blog/trump-tariffs-revenue-estimates/

https://taxfoundation.org/blog/largest-tax-increase-harris-trump/

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Can tariffs truly replace income taxes in today’s economy? In this episode, we examine the bold and controversial proposal from former President Trump to replace income taxes with tariffs. What would this dramatic shift mean for everyday Americans, particularly those with lower incomes? And would it actually work?

To unpack these questions, Kyle Hulehan is joined by Erica York, Senior Economist and Research Director, as they explore the impact of tariffs on household budgets and the economy as a whole. They’ll also revisit the McKinley Tariff era to see what history can teach us about the possible political backlash and economic consequences.

Links:

https://taxfoundation.org/blog/trump-income-tax-tariff-proposals/

https://taxfoundation.org/research/federal-tax/2024-tax-plans/

https://taxfoundation.org/blog/trump-income-tax-tariff-proposals/

https://taxfoundation.org/research/all/federal/kamala-harris-tax-plan-2024/

https://taxfoundation.org/research/all/federal/donald-trump-tax-plan-2024/

https://taxfoundation.org/blog/trump-mckinley-tariffs-great-depression/

https://taxfoundation.org/blog/import-tariffs-affect-exports/

https://taxfoundation.org/blog/economic-effects-taxes-tariffs/

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Are tax increases on the horizon in 2025, no matter who takes office? In this episode, we explore why changes to the tax code could hit your wallet, regardless of which party comes out on top.

Joining Kyle Hulehan is Erica York, Senior Economist and Research Director. They break down the expiration of the Tax Cuts and Jobs Act, Trump’s plans for the tax code, and Harris’s proposals to raise taxes.

Links

• Expiring TCJA Tax Provisions in 2026 Would Produce Substantial Tax Hike across the US See more
• Tax Calculator: How the TCJA’s Expiration Will Affect You See more
• Why Are the Individual Tax Cuts Expiring? See more
• Tracking 2024 Presidential Tax Plans See more
• Harris Tax Plan Ideas: Details and Analysis See more
• Trump Tax Plan Ideas: Details and Analysis See more
• Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations See more

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https://twitter.com/TaxFoundation
https://twitter.com/deductionpod

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