# Multimedia Multimedia --- - [Podcasts](/podcasts) - [Cato Video](/multimedia/cato-video) - [Video Series](/search/category/video-series) - [Events](/multimedia/events) [ Download Episode ](https://feeds.acast.com/public/streams/5e28e0d8963f166217546493/episodes/6862cff59951fac41b0b40dc.mp3)Subscribe: [ Apple Podcasts ](http://itunes.apple.com/podcast/cato-daily-podcast/id158961219) [ Spotify ](https://open.spotify.com/show/4dHRhKEljj8zcLdl3Gvsv7) Cato Weekly Podcast • July 1, 2025 # One Big Beautiful Podcast In this episode, Cato Institute’s Scott Lincicome and Adam Michel dive deep into the sweeping new legislation—dubbed “The One Big Beautiful Bill”—moving through Congress. They break down what’s at stake as key provisions of the 2017 tax reform are set to expire, unpack the bill’s complex mix of tax cuts, new carve-outs, and industrial subsidies, and examine why temporary tax policy and policy uncertainty could derail economic growth. Plus, they confront the fiscal fiction behind tariffs as a reliable revenue source and make the case for a cleaner, more permanent pro-growth tax system. If you’re looking for a sharp, honest take on where tax and trade policy stand in 2025—and where they should go—this one’s for you. #### Show Notes [![Tax Reform Flag Money](/sites/cato.org/files/styles/content_teaser/public/2025-05/202505_taxreform.jpg?itok=jzMdsSwE)](https://www.cato.org/blog/republicans-one-big-beautiful-tax-bill-needs-makeover) blog ### [Republicans’ One, Big, Beautiful Tax Bill Needs a Makeover](/blog/republicans-one-big-beautiful-tax-bill-needs-makeover) By [Adam N. Michel](https://www.cato.org/people/adam-n-michel) A tax code that is simpler, more neutral, and better aligned with long-term economic growth is still within reach, but this bill doesn’t get us there. [![Capitol building with Senate](/sites/cato.org/files/styles/content_teaser/public/2020-09/capitol%20building-min-min.jpg?itok=b7kBii2H)](https://www.cato.org/blog/four-things-senate-can-do-improve-house-tax-bill) blog ### [Four Things the Senate Can Do to Improve the House Tax Bill](/blog/four-things-senate-can-do-improve-house-tax-bill) By [Adam N. Michel](https://www.cato.org/people/adam-n-michel) There are many ways the Senate can improve the One Big Beautiful Bill Act, including making expensing permanent and more broadly available, rejecting new tax-based entitlements like Trump accounts, and scaling back politically driven carve-outs. [![Tariff Image cropped](/sites/cato.org/files/styles/content_teaser/public/2025-04/tarrif-image%20Cropped.jpg?itok=ThF6igOO)](https://www.cato.org/commentary/republicans-cant-pay-their-tax-cuts-fantasy-revenue-sources) Commentary ### [Republicans Can’t Pay for Their Tax Cuts with Fantasy Revenue Sources](/commentary/republicans-cant-pay-their-tax-cuts-fantasy-revenue-sources) By [Scott Lincicome](https://www.cato.org/people/scott-lincicome) Trump can threaten iPhones and the E.U. all he wants. They won’t provide a reliable source of revenue. [![trump getty](/sites/cato.org/files/styles/content_teaser/public/2024-02/trump%208.jpg?itok=HB0v9KWM)](https://www.cato.org/commentary/trumps-latest-tariff-idea-dangerously-foolish) Commentary ### [Trump’s Latest Tariff Idea Is Dangerously Foolish](/commentary/trumps-latest-tariff-idea-dangerously-foolish) By [Scott Lincicome](https://www.cato.org/people/scott-lincicome) Terrible economics aside, there’s simply no possible way it could work. [![The U.S. Capitol Building in Washington, DC.](/sites/cato.org/files/styles/content_teaser/public/2025-06/congressional-fellowship-program_list-image.jpg?itok=HsnmBfEU)](https://www.cato.org/blog/senate-big-beautiful-bill-more-growth-more-subsidies-more-debt) blog ### [Senate Big Beautiful Bill: More Growth, More Subsidies, More Debt](/blog/senate-big-beautiful-bill-more-growth-more-subsidies-more-debt) By [Adam N. Michel](https://www.cato.org/people/adam-n-michel) Lawmakers should prioritize fiscal responsibility by staying within the fiscal guardrails agreed to in the House budget Fiscal Framework. Permanent, pro-growth tax reform is eminently doable by eliminating or scaling back the flood of new and expanded tax preferences, repealing costly subsidies already in the tax code, and cutting additional spending. [![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/). ##### Featuring [![Scott Lincicome cropped](/sites/cato.org/files/styles/author_picture/public/2023-10/scott-lincicome-square.jpg?itok=qnTH2GB_)](/people/scott-lincicome) ##### [Scott Lincicome](/people/scott-lincicome) Vice President, General Economics and Stiefel Trade Policy Center, Cato Institute [ ](https://x.com/scottlincicome) [ ](mailto:slincicome@cato.org) [![Adam N. Michel cropped](/sites/cato.org/files/styles/author_picture/public/2023-02/adam-michel-cropped.jpg?itok=2xIg84-_)](/people/adam-n-michel) ##### [Adam N. Michel](/people/adam-n-michel) Director of Tax Policy Studies, Cato Institute; Former Deputy Staff Director at the US Congress Joint Economic Committee [ ](https://x.com/adamnmichel)