Meta and Qualcomm reported $13.7 billion in tax breaks as a result of the Trump admin’s recent move to weaken the Corporate Alternative Minimum Tax. This unauthorized regulatory tax giveaway is a clear signal about who the Trump admin thinks is most deserving of tax cuts. itep.org/meta-qualcom...

Missouri voters will get to decide whether they want to swap their income tax for a higher sales tax. Doing so would result in a tax hike on middle-income households to help fund tax cuts for the rich. apnews.com/article/inco...

It's no surprise that taxing the rich is a popular policy. Americans largely agree that wealthy people and corporations don’t pay their fair share, according to @pewresearch.org.

North Carolina is facing tax cuts so large that even some traditionally anti-tax voices are starting to get nervous. That's because these steep cuts to income, corporate, and property taxes threaten the state's public services. itep.org/north-caroli...

88 corporations paid $0 in federal income tax for 2025. Some of these companies want to distract you with other taxes they paid, but that doesn't change the fact that their $0 federal income tax bill is disclosed right in their own financial reports. itep.org/88-corporati...

States continue to debate whether and how to link their tax codes to Trump's tax law – also known as conformity. But this is not just a technical debate. These decisions have profound impacts on economic and racial equity. itep.org/while-states...

Tesla barely paid any federal income tax over the past three years. They’ve managed to do this through a variety of tax avoidance tactics. In addition, using offshore tax havens might have saved Tesla $400 million alone in recent years. www.reuters.com/legal/transa...

Indexing capital gains for inflation would send yet another massive tax cut to the wealthiest Americans. The richest 1% of households would receive 77% of the tax cut savings. The bottom 60% of households would get virtually nothing. itep.org/tax-cuts-for...

Maine and Oregon opted out of a tax break that mainly serves rich tech investors and venture capitalists. The two states will together save nearly $50 million in revenue per year, and Oregon plans to invest its savings toward working families. itep.org/tax-break-fo...

Maine passed a millionaires' tax, making the state's tax system fairer while raising revenue to support families, workers, and students. How much revenue will it raise? Nearly $100 million next year. itep.org/maine-passes...

“What we’re seeing is corporate tax avoidance on steroids,” said Matt Gardner @itep.org. “It’s no secret that large, profitable American corporations have avoided paying full freight for decades, but that trend has been turbocharged by the Trump administration’s 2017 and 2025 corporate tax cuts.”

At least 88 corporations paid $0 federal income tax for 2025. #TaxDay

NEW: At least 88 corporations paid $0 in federal income tax in 2025. That's despite collectively earning more than $105 billion in U.S. income. The list includes Tesla, Palantir, Live Nation Entertainment, Coinbase, United Airlines, Walt Disney, and more. itep.org/88-profitabl...

Underfunded public services fuel the demand to tax the rich. "There are so many needs that American families have, and we so often have to hear, ‘Oh, there’s no money for that.’ Well, there’s lots and lots of money," our Director Amy Hanauer explains. www.theguardian.com/us-news/2026...

The amount of untaxed wealth hidden offshore by the richest 0.1% exceeds the entire wealth of the poorest half of humanity (4.1 billion people), according to this new Oxfam analysis.

This tax season, some Americans seem to think they’re paying less based on their refunds. But they’re likely paying more in taxes through tariffs and the expiration of health care tax credits. itep.org/despite-any-...

Tax policies from Trump’s second term have raised taxes for most Americans while benefiting the wealthy and foreign shareholders. This includes sweeping tariffs, unequal tax cuts, weakened IRS enforcement, and legally problematic regulations. itep.org/year-one-of-...

Tourists pay a share of essential public services through tourist taxes. So how can states and localities make the most out of that? The best approach is taxes targeted at visitors and diversifying – not replacing – sources of revenue. itep.org/how-to-tax-t...

16 states tax their poorest residents at rates higher than California taxes its richest. That's because more states rely on regressive taxes, which asks more from lower-income households. California is among the least regressive. itep.org/low-tax-for-...

How do elites shape tax policy to favor them? How can tax policy better support democracy? Tax politics has long been tied to questions of democratic inclusion, as author Vanessa Williamson explores in her new book. itep.org/the-price-of...

South Carolina will eliminate its income tax over time, with nearly half of the savings flowing to the richest 5%. The cost? Up to $6.6 billion a year. That's almost half of the state's current general fund, including education and health services. itep.org/south-caroli...

How are states addressing the affordability crisis? Some lawmakers are actually trying to raise taxes on the working class while cutting taxes for the rich. Missouri is considering replacing its personal income tax with a higher sales tax. itep.org/missouri-inc...

“This historic move in Washington will help the state prioritize education and child care while ensuring the wealthiest pay their fair share to support these essential services," our State Policy Director Aidan Davis says: itep.org/historic-mil...

Washington Gov. Bob Ferguson has officially signed into law a new tax on millionaires. The 9.9% tax on income above $1 million is projected to raise up to $3 billion in 2029 after it takes effect in 2028. That money will go towards public education, child care, and expanding the state's EITC.

Who is going to pay for this unpopular war against Iran, which is already tallied up at a cost of at least $200 billion? @mettlinger.bsky.social argues that the rich and corporations should pay the costs through a temporary targeted tax. itep.org/the-rich-and...

Almost a decade ago, Trump slashed the corporate income tax rate by nearly a third. But corporations are paying far below that 21% rate thanks to enormous tax breaks and loopholes. That's how these four big tech companies paid a collective tax rate of just 4.9% last year.

When gender and racial wealth gaps remain in the economy, Black women experience both. Policies that include them will mean more care for families, more chances for wealth-building, and more opportunities for success. itep.org/womens-histo...

The Iran war has sent gas prices soaring. If these price increases continue, American drivers could pay an additional $9.4 billion per month for gasoline. The South has been hit hardest and is on pace to pay $4.2 billion more per month — nearly half of the nationwide cost.

New Mexico enacted the most significant state corporate tax reform of the year so far. Other states looking to crack down on corporate tax avoidance should look to New Mexico as a blueprint. itep.org/states-shoul...

State and local taxes exist primarily to fund public services, but there are multiple ways to reach this goal. Experts who study taxes generally agree that concepts like fairness and adequacy are central to a good tax system. itep.org/what-princip...

Alphabet, Amazon, Meta, and Tesla collectively paid only a 4.9% federal income tax rate last year. How did we get here? Two rounds of tax changes from President Trump led to minuscule tax rates for these companies and many other profitable corporates. itep.org/amazon-alpha...

Amazon and Meta, after receiving billions in tax breaks and paying miniscule tax rates last year, are now undergoing more layoffs. These companies collectively reported $168 billion in U.S. profits last year and have a staggering $204 billion in cash on hand. finance.yahoo.com/news/elizabe...

As we continue to track corporate disclosures for 2025, so far 234 companies have avoided $125 billion in federal income tax on $880 billion in profits. itep.org/corporate-ta...

The income restrictions under the Child Tax Credit still favor wealthier families. While a small number of children are ineligible for the full credit because their families earn too much, far more children are ineligible because their families earn too little.

Our friends at @itep.org dig into how the Millionaires Tax and the expanded Working Families Tax Credit will have a positive impact on the well-being of people throughout our state and how it will improve our inequitable tax code! #WaLeg #WaGov

Washington state is on its way to enacting a millionaires’ tax. The plan comes with significant boosts in public education and child care along with more revenue from the wealthiest households that have been paying the lowest tax rates in the state. itep.org/washington-m...

This tax season, corporations are avoiding billions in taxes — paid for by the largest cuts to SNAP and Medicaid in history under the Republican Tax Law. See from @itep.org how much billionaires are saving thanks to cuts to our health care and food assistance.

The tax bill Trump signed last year gives $1 trillion in tax cuts to the richest 1% of households over the next decade. How do Senators Cruz and Scott plan to follow that up? With another $200 billion handout to the rich. www.washingtonpost.com/business/202...

The tiny Child Tax Credit boost in the One Big Beautiful Bill Act still leaves millions of families behind while disproportionately benefiting high-income households. There are better alternatives that would help the children who need it most. itep.org/child-tax-cr...

Over 150 members of Congress last week introduced a bill to bring back the IRS’s free tax filing program and make Direct File permanent. The Trump administration ended this program last year despite its popularity and initial success. itep.org/trump-admini...

OBBBA will provide $1 trillion in tax cuts for the richest 1% over a decade while cutting Medicaid by almost as much. Combined with Trump's tariffs, the average household in nearly all income groups will see a tax hike this year except the richest 5%. itep.org/trump-obbba-...

Just how much have Trump's tax cuts benefited huge corporations? Our Senior Fellow Matt Gardner says it's entirely possible that for 2025, S&P 500 corporations "will overall be paying something less than 10% of their income in corporate taxes." www.marketplace.org/story/2026/0...

The electronic payments company Block, best known for its Square credit card processing software, avoided paying even a dime of federal income tax on $1.5 billion of U.S. income last year. Yes, this is the same Block that just laid off half its workforce. www.sec.gov/ix?doc=/Arch...

As wealth inequality grows, so does the demand to tax the very top. In 2022, we found that just a 2% wealth tax on billionaires would have raised $62 billion that year. Current tax policy is clearly falling short of its potential. itep.org/the-geograph...

Thanks to improved corporate transparency rules, we can get a better picture of offshore tax havens. Oil service giant Halliburton avoided $29 million in taxes by reporting $138 million of income in the Cayman Islands last year. itep.org/new-income-t...

Trump’s Treasury helped a major energy corporation pay zero federal income tax in 2025 by aggressively undermining the tax code. Cheniere Energy now gets a $380 million refund from taxpayers. itep.org/cheniere-ene...

Nvidia avoided $6.8 billion in federal income taxes last year while reporting greater earnings growth than almost any corporation in U.S history. itep.org/nvidia-tax-a...

State lawmakers must be careful not to adopt federal policies that just don’t make sense at the state level. One provision is causing states to hand out corporate tax breaks that subsidize investments anywhere, including other states. itep.org/state-corpor...

Property tax cuts won’t erase centuries of racial wealth inequality. In fact, it actually worsens it. Instead, a property tax circuit breaker program can narrow this gap while making homeownership more affordable for working families. itep.org/property-tax...