Short FormThe recently enacted One Big Beautiful Bill Act (OBBBA) is certainly big, but is it “beautiful”? Many provisions in the OBBBA will have noticeable impacts on individual taxpayers, including some that are beneficial to your wallet.
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In this episode of The Deduction, we unpack Trump’s tariffs as they head to the Supreme Court. We break down scenarios if the Court upholds or strikes the tariffs, who really pays, and how Congress might respond—your concise guide to tariffs and the Supreme Court.
The Supreme Court is deciding a case over whether the President can impose sweeping tax increases on imported goods. It’s a multi-trillion-dollar question with enormous implications for the US economy, taxpayers, and limitations on emergency powers.
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The State Tax Competitiveness Index enables policymakers, taxpayers, and business leaders to gauge how their states’ tax systems compare. While there are many ways to show how much state governments collect in taxes, the Index evaluates how well states structure their tax systems and provides a road map for improvement.
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In 2025, the Texas legislature sought to make the state more competitive for small businesses by exempting a greater amount of business personal property from taxation, reducing compliance burdens at the cost of a trivial amount of revenue.
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The 2017 Tax Cuts and Jobs Act (TCJA) simultaneously increased tax progressivity and decreased redistribution in the tax code. Our estimates suggest the OBBBA similarly combines a more progressive tax system with a lower degree of tax redistribution.
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Several goods have experienced notably large price increases, including apparel, coffee and tea, cameras, and furniture.
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While there are many factors that affect a country’s economic performance, taxes play an important role. A well-structured tax code is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities.
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The past four years have brought significant focus on state income tax reform and relief, and with that, something of a flat tax revolution.
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Sean Bray interviewed Professor of Tax Law at the Lisbon School of Law of the Catholic University of Portugal, Dr. Miguel Correia, about the future of the EU tax mix.
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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, common but flawed solutions, and why the property tax remains an economically efficient revenue source.
How will recent federal tax changes affect you?
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In this episode of The Deduction podcast, host Kyle Hulehan discusses the complexities of the US tax system with Alex Muresianu, Senior Policy Analyst at the Tax Foundation.
Targeting wealth at the top through higher taxes has a certain appeal, but it also comes with a lot of drawbacks, including increased avoidance and reduced incentives to invest.
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While the OBBBA brings some stability by making many of the TCJA’s reforms permanent, it generally fails to reform the tax code’s accumulating complexity.
31 min read
When the Kansas City and Los Angeles squads face off in São Paulo, the players will owe Brazil’s nonresident income tax on the share of income they earned there, while California will lose out on the nonresident income taxes that Chiefs players ordinarily would have remitted in what is nominally a Chargers home game.
5 min read
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.
Americans will spend almost 7.1 billion hours complying with IRS tax filing and reporting requirements in 2025. This is equal to 3.4 million full-time workers—almost the population of Los Angeles and nearly 38 times the workforce the IRS employed in FY 2024—doing nothing but tax return paperwork for a full year.
9 min read
In a surprising tax code alteration that has frustrated Americans who enjoy gambling, a provision in the One Big Beautiful Bill Act limits gambling losses that can be used to offset gambling winnings to 90 percent of their value. This provision introduces a steep tax penalty for professional gamblers and certain casual bettors.
5 min read
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?