In a recent episode of The Concord Coalition’s Facing the Future podcast, Alex Brill discussed with host, Bob Bixby, the evolving landscape of U.S. tax policy and what it signals for the federal budget—and investors.
The One Big Beautiful Bill (OBBB), signed into law on July 4, 2025, prevented a large, scheduled tax hike from hitting American households.
During a recent speech at the Detroit Economic Club, former President Donald Trump proposed partially renewing a tax policy in effect prior to the Tax Reform Act of 1986 that allowed taxpayers to fully deduct interest expense on auto loans.
Earlier this week, Vice President Kamala Harris, campaigning in Nevada, endorsed exempting tips from the individual income tax. This follows former President Donald Trump’s proposal last month to do the same.
While the details of future federal legislation and executive actions to legalize, regulate, and tax cannabis remain unknown, such policies could have significant impacts on the federal budget.
