www.cbpp.org/blog/states-... States Must Prioritize Revenue to Support People and Communities in Wake of Harmful Republican Megabill

In addition to a vote on an emergency bill to reject federal tax cuts that would cost DC $658 million in local funds, DC Council is voting today on Councilmember Parker's amendment to use funds to restore a DC Child Tax Credit.

Several of the wasteful and poorly targeted tax cuts in the One Big Beautiful Bill Act will be replicated in the local tax code unless the DC Council approves this emergency bill, which would protect $658 billion in local funds that can be used to support residents in need.

States can protect revenue in the current fiscal year by shutting down this loophole, which allows wealthy investors to sell stock at massive profit entirely tax-free - even if the stock is in an out-of-state company. #qsbs

Great insights (and fun acronym reinterpretation!) from @itep.org. States should follow California's lead and decouple from the federal Qualified Small Business Stock exclusion. It sure doesn't seem like early-stage tech investment in CA has suffered without it... itep.org/qsbs-trump-t...

Opposition to the qualified small business stock exclusion crosses ideological lines! @kylepomerleau.bsky.social & me on why QSBS-which Republicans just expanded-is inefficient, unfair & should be scrapped, or at least reformed to fix glaring defects. www.taxnotes.com/tax-notes-to... @taxnotes.com

Perhaps explains why the president's in a rush to pass this thing before the nation fully realizes what it does.

With Gov. Moore's signature yesterday, Maryland is turning its upside-down tax code right side up! The wealthiest 1 percent will no longer pay state&local tax at a lower rate than any other income group. My brilliant colleague Miles Trinidad explains: itep.org/maryland-bud...

Strong leadership underpinned by progressive values of fairness, public investment, and common sense in Maryland itep.org/maryland-bud...

States foreshadowing the federal tax bill... stateline.org/2025/04/29/n...

I just read two pieces that help explain why I do what I do. One is from Learning Policy Institute on the massive, and growing, body of evidence that $$ matters in education (kinda common sense for most of us but still good to see the research). learningpolicyinstitute.org/blog/how-edu...

What Krugman was to understanding Bushonomics in the early 2000s, @donmoyn.bsky.social is to understanding the current assault on the public sector. Cool, evidence-based, and devastating.

Last night House Rs advanced their dystopic plan for America's future. The budget resolution they approved would slash health coverage, food assistance, and more to pave the way for massive tax cuts for wealthy people and profitable corporations. www.dcfpi.org/all/house-re...

States considering property tax caps need to learn a little history. When I was a teenager, my state passed a cap that led to lots of teacher layoffs and damaged the school system for many years. My colleague Rita Jefferson tells the full story here @iteptweets itep.org/california-p...

Analysis of Gov. Moore’s tax plan: “The wealthiest 1 percent of Maryland taxpayers are currently the least-taxed income group in the state. This plan asks more of those at the top.” itep.org/maryland-gov...

Republican proposals would deliver trillions in tax cuts benefiting high-income households and profitable corporations, while cutting health and food assistance. This would increase poverty, reduce housing stability, and raise prices through new tariffs. www.cbpp.org/research/fed...

Most DC residents have no idea that big K-street law firms and lobby firms are avoiding taxes paid by mom-and-pop retailers and other businesses. Fortunately there's a fix! This thread explains it perfectly. 👇

The data show that people choose where to live mostly for non-tax reasons. Still, opponents of fair taxation never get tired of wheeling out the myths. itep.org/marylands-ta...

Our new analysis gives 4 reasons MD Gov Wes Moore's tax plan is smart. 1) Makes tax code simpler 2) Most Marylanders get a cut 3) Raises revenue for schools etc. 4) The new revenue mostly comes from the income group that now pays the least. (Guess who that is.) itep.org/maryland-gov...

And this: "Tax breaks for executive stock options shaved a quarter billion off the company’s tax bill."

NEW: Tesla, the most valuable automaker in the world, did not pay any federal income tax last year. The company reported $0 in federal income tax on $2 billion of U.S. income in 2024. Elon Musk’s company avoided almost all federal income tax over the past three years. itep.org/tesla-report...

Many states already face tight budgets. Now, revenue streams could take another big hits if undocumented taxpayers are deported.

Every January -> new state legislative sessions -> reminder of this awesome resource for keeping track of it all. itep.org/state-rundow...