Election Insights | Tax Hikes Are Coming, Regardless of Who’s in the White House
10/23/24 • 13 min
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
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show
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
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show
Previous Episode
Can US Tax Reforms Keep Up with China?
How does tax policy shape a nation's competitiveness? Today, we’re diving into the showdown between the US and China, exploring how China’s enticing tax incentives pose a formidable challenge to America’s economic supremacy.
Joining Kyle is Alex Muresianu, Senior Policy Analyst at the Tax Foundation. Together, they explore how changes to US corporate taxes, including the restoration of full expensing for research and development, could be the key to ensuring America remains competitive on the global stage.
Links:
https://taxfoundation.org/research/all/federal/us-chinese-economy-investment-manufacturing/
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show
Next Episode
Election Insights | Can Trump's Tariff Plan Really Replace the Income Tax?
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/
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show
The Deduction - Election Insights | Tax Hikes Are Coming, Regardless of Who’s in the White House
Transcript
Hello and welcome to the deduction, a tax foundation podcast. I'm your host, Kyle Houlihan, and today we are back with another election episode with my cohost, Erica York, senior economist and research director here at the tax foundation, Erica. How are you doing today?
Erica YorkDoing all right. Thanks, Cal.
Kyle HulehanYou know, we're all, you know, bat
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