Is the One Big Beautiful Bill a Step Back for Tax Simplicity?
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.
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US Effective Tax Rates Remain Highly Progressive, Despite Some Economists’ Claims
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.
6 min read
One Big Beautiful Bill Act Makes the Individual Income Tax More Complex
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
Chiefs Players Will Save $287,000 in Income Tax by Playing in Brazil Rather Than California
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
The Big Beautiful Bill’s Impact on State Taxes, Explained
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.
Tax Complexity Now Costs the US Economy over $536 Billion Annually
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
The One Big Beautiful Bill Act Creates Unequal Tax Treatment for Gambling Losses
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 Tariffs Explained: Grocery Prices and Rebate Checks
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?
Tax-Free Weekends: When Popular Policy Meets Poor Economics
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.
How the One Big Beautiful Bill Changes Green Energy Tax Credits
The One Big Beautiful Bill Act (OBBBA) significantly alters the Inflation Reduction Act (IRA) green energy subsidies.
6 min read
Trump Tariffs Will Raise the Cost of Food for Americans
The Trump tariffs will likely raise the cost of food for Americans, particularly for liqueurs and spirits, baked goods, coffee, fish, and beer.
4 min read
Will Trump Accounts Actually Help Families Save?
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?
FAQ: The One Big Beautiful Bill, Explained
Our experts explain how this major tax legislation may affect you and how policymakers can better improve the tax code.
24 min read
One Big Beautiful Bill Does Better with Permanence, but Is Still Full of Temporary Provisions
Several major new tax breaks are scheduled to expire at the end of 2028, setting the stage for another tax fight to either extend them or allow them to expire.
5 min read
Oklahoma Continues to Pursue Pro-Growth Tax Reforms, but the Job Is Not Done
Oklahoma can continue to enhance its competitiveness by pursuing a variety of reforms to the corporate and individual income tax, but it should avoid policies that would negatively impact the economy, like enacting a wholesale elimination of the property tax.
6 min read
‘Trump Accounts’ Could Be Better. Here’s How.
If the federal government really wanted to make saving more accessible for taxpayers, it would swap the proposal for Trump Accounts to replace the complicated mess of savings accounts currently available with universal savings accounts.
5 min read
Trump Tariffs Threaten to Offset Much of the “Big Beautiful Bill” Tax Cuts
Our analysis finds that the Trump tariffs threaten to offset much of the economic benefits of the new tax cuts, while falling short of paying for them.
3 min read
The One Big Beautiful Bill Is Law—Now What?
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.
The Good, the Bad, and the Ugly in the One Big Beautiful Bill Act
The One Big Beautiful Bill Act makes many of the individual tax cuts and reforms of the TCJA permanent. It improves upon the TCJA by making expensing for R&D and equipment permanent. However, for the most part, it does not include further structural reforms, and instead introduces many new, narrow tax breaks to the code, adding complexity and raising revenue costs.
7 min read
Alabama’s 2025 Legislative Session Advances Pro-Growth Tax Reforms
Alabama’s 2025 legislative session mostly demonstrates a commitment to pro-growth tax policies that enhance competitiveness and reduce compliance burdens.
4 min read