A new study finds that 96% of Trump's tariffs are paid for by Americans. But this isn't a surprise considering corporate executives are publicly telling investors they are protecting profits by passing the costs of tariffs on to consumers. time.com/7353475/trum...

Tax credits for workers and families are a proven tool to boost people's incomes. States can find new revenue to support these by disconnecting from parts of Trump's tax law – as D.C and Pennsylvania already have. itep.org/state-refund...

States might hesitate to adopt OBBBA's sweeping tax changes as it harms public services and overwhelmingly benefits the wealthy. But there’s at least one OBBBA provision worth adopting: a tax hike on excessive CEO pay. itep.org/tax-deductio...

Oil and gas companies receive enormous tax breaks in the U.S. A @factcoalition.bsky.social report found that 11 of these companies are paying 5x more income tax to foreign governments. And under the new Trump tax law, oil-industry tax avoidance could get worse. itep.org/oil-gas-comp...

Trump’s tax bill hacks away at our schools. States better move fast to raise taxes on rich people & corporation to make up for the shortfall.

FIFA demanded sales tax breaks on World Cup Tickets. That means millions of dollars in lost revenue for host cities. Each city is also expected to shoulder between $100 to $200 million in costs related to infrastructure, security, and logistics. itep.org/fifa-2026-wo...

Some states are losing well over $100 million per year just to give tax breaks to data centers.

The estate tax affects less than 1% of Americans. Getting rid of this tax would be a blatant giveaway to the absolute richest families in this country.

No tax on tips or overtime does little to actually help workers.

States need more revenue. The wealth gap is growing wider. Americans think billionaires pay too little in taxes. It's no surprise that more states want to explore ways to raise revenue from the wealthiest households. www.marketwatch.com/story/tax-th...

The IRS is losing the ability to audit private equity firms due to a severe lack of resources and expertise. Audits on firms such as Blackrock and Apollo have been "almost nonexistent." This allows for more tax avoidance to go unchecked. www.nytimes.com/2026/01/08/b...

Missouri lawmakers have enacted broad, expensive, and regressive tax cuts throughout the past year. These tax cuts mainly benefit the wealthy and further constrain the state’s public services. itep.org/missouri-bud...

Despite what Georgia lawmakers are trying to claim, eliminating income taxes hardly solves the problem of affordability. It takes a major source of state revenue away from public services and mostly benefits the wealthy. apnews.com/article/geor...

According to @goodjobsfirst.org, at least 10 states are already losing more than $100 million each in revenue per year from data center tax breaks. That's money that could be going to education, infrastructure, or anything more useful than another data center. itep.org/states-are-o...

Tax credits for low-income workers are an effective, research-backed tool to reduce poverty. In the same way states are building upon federal tax credits, localities should consider building on state tax credits. itep.org/pennsylvania...

A global deal to curb the use of offshore tax havens has caved to make an exemption for the U.S. U.S multinational corporations can still use accounting gimmicks to make their profits appear in low- to no-tax countries. apnews.com/article/tax-...

NEW: In 2025, U.S. billionaire wealth surged to $8.1 trillion — an increase of over 20.8%. The top 15 U.S. billionaires alone saw their wealth surge to $3.2 trillion, a whopping 33% increase over 2024. IPS scholars @chuck77.bsky.social and @ocampomar.bsky.social:

The new tax law President Trump signed earlier this year will send the richest 1% of households about $1 trillion in tax cuts over the next decade. For comparison, the bill’s cuts to Medicaid will total $930 billion over the same period. itep.org/2025-the-yea...

Earlier this year, Tesla reported $0 in federal income tax on $2.3 billion of U.S. income. Over the past 3 years, Elon Musk’s company reported $10.8 billion of U.S. income and paid just $48 million in federal income tax. That’s a three-year federal tax rate of 0.4%. itep.org/2025-the-yea...

“If you want to say that this is about affordability and improving affordability of cars, then it makes it really hard to feel like you’ve done your job well if most of the market is out of reach of this deduction and not actually able to use it.” www.nytimes.com/2025/12/25/u...

A recent property tax proposal from Texas Gov. Greg Abbott seems inspired by none other than California's infamous Prop 13. Among other consequences, this would end up being a big tax cut for the rich with limited benefits for everyone else. itep.org/texas-proper...

"We have reached a point where any mix of solutions to our nation’s economic problems is going to involve the wealthiest Americans contributing more." Mitt Romney agrees with the majority of Americans that it's time to tax the rich. www.nytimes.com/2025/12/19/o...

House Republicans have chosen to not extend health care tax credits that are expiring at the end of the year. This is estimated to cause 4 million people, including many self-employed workers and small business owners, to lose coverage. www.cbpp.org/press/statem...

Should corporations pay more in taxes? Yes. The U.S needs a tax code that is more progressive and raises more revenue than the one we have now. But why start with the way we tax corporations? Here are 10 reasons: itep.org/why-the-us-s...

More corporate tax cuts? Delaware says no thank you. The state will save over $300 million in revenue by not mirroring a few of Trump's corporate tax cuts into their own state tax codes. Even better, more states are considering this as well. whyy.org/articles/del...

Tariffs have been wrongly portrayed to the public as a costless alternative to taxes. You are paying for them. Even corporate executives are now admitting to passing the costs of tariffs on to consumers by raising prices. itep.org/president-tr...

American corporations using offshore tax havens to dodge U.S. taxes continues to be a problem. Instead of stopping corporate tax avoidance, the Trump administration is enabling it by attacking the global minimum tax. itep.org/tax-havens-c...

No state is taking away federal tax cuts, despite what Treasury Secretary Scott Bessent says. Some states are choosing not to mirror recent federal changes into their own tax codes, which is a normal process. Bessent’s claims are wildly misleading. itep.org/no-scott-bes...

No tax on tips or overtime picks winners and losers based on occupation. It will also cost billions in revenue for state budgets that are already stretched thin. Working families would be better served by tax reforms that broadly benefit them. itep.org/tips-overtim...

Tax cuts aren’t free. And states that cut taxes for the rich in recent years are witnessing the repercussions. They don't have the revenue to fund the crucial programs that the Trump administration just slashed. www.propublica.org/article/food...

FIFA demanded sales tax breaks on World Cup Tickets. That means millions of dollars in lost revenue for host cities. Each city is also expected to shoulder between $100 to $200 million in costs related to infrastructure, security, and logistics. itep.org/fifa-2026-wo...

Florida lawmakers are exploring ways to eliminate property taxes. Here's why it's a bad idea.

Given their unpopularity, it's not surprising Congressional Republicans don't want to talk about tariffs. At a recent House Ways & Means hearing, they ignored questions about tariffs and instead focused on how they've helped the wealthy with corporate tax cuts. itep.org/congressiona...

Trump wants to take tax policy back to the Gilded Age. The problem is tariffs generate nowhere near the revenue needed to fund modern society. You can’t pay for Social Security, Medicare, and all our other needs by replacing income tax with tariffs. apnews.com/article/fact...

Here's another example of how Trump's tariffs raise prices for American consumers. During their 4Q earnings call, John Deere corporate executives admitted that: - Their tariffs hit will double next year - They'll make it up with price increases.

Thanks to the new Trump tax law, corporations will get a windfall of $16 billion for investments they've already made. Corporations making more than $1 billion claim more than 80% of this deduction. www.washingtonpost.com/business/202...

John Deere's latest earnings call shows the firm continuing to take huge hits from Trump tariffs and passing them on to consumers. FY25 estimate is $600 million, doubling to $1.2B in 2026. Sensible Q from analyst: "how are you thinking about offsetting that?" (1/2) seekingalpha.com/article/4848...

Tariffs cannot replace income taxes. There's simply not enough revenue. Like his pitch for dividend checks, it's another attempt at getting Americans on board with regressive tariffs that ask more from average families than wealthy households. www.axios.com/2025/11/28/t...

Trump's "no tax on tips" grows vaguer and costlier as workers in several exempt industries are now told to claim it anyway. For states, this risks an unexpected budget shortfall that could trigger public service cuts or tax hikes elsewhere. itep.org/conforming-t...

Trump's tax law pushes 529 college savings accounts further into subsidizing private schools and cutting taxes for wealthy parents. States can forgo a costly, inefficient subsidy for private schools by steering the use of these accounts back toward their original purpose.

In recent years, we've seen enormous tax cuts handed to the richest people in the U.S. It's no surprise that trend coincides with a huge uptick in their political spending. And what do they want in return? More tax cuts, of course. www.washingtonpost.com/politics/int...

“The folks who are really going to be impacted are people who are really trying to do the right thing, the people authorized to work and paying their taxes.” The Trump admin is slowly pushing more people out of tax benefits that they work and pay for. apnews.com/article/trea...

State governments are rushing to subsidize data centers without understanding their full costs. These revenue losses add to the concerning fiscal and environmental costs of data centers. itep.org/states-are-o...

Santa Fe’s mansion tax is back after being deemed legal by the New Mexico Court of Appeals. This tax on mansion sales - approved by 76% of the city's voters in 2023 - paves the way for the city to have a much larger revenue stream for affordable housing. www.santafenewmexican.com/news/local_n...

Several major cities use vacancy taxes to address housing shortages and unproductive land use. But vacancy taxes won't single-handedly solve those problems. They're useful as a small part of a focused, comprehensive plan to improve communities. itep.org/vacancy-tax-...

The Opportunity Zone program has largely failed to reach the communities that most need help. Instead, it’s yet another program that benefits wealthy investors. States can decouple from this program and save much needed revenue for their communities. itep.org/state-tax-sh...

Pennsylvania has now adopted an Earned Income Tax Credit, providing $193 million a year to low- and middle-income families. This tax credit boosts low-paid workers’ incomes and helps them achieve greater economic security. penncapital-star.com/government-p...

The Treasury is now selectively giving out tax cuts to cryptocurrency companies, energy corporations, and private equity firms. This administration is ignoring parts of our tax laws solely to benefit corporations and the wealthy. itep.org/trump-goes-o...

"The $2,000 dividend idea is a not-even-slightly-baked idea that popped into the President’s mind and should not be taken seriously, except as a demonstration of how unserious he is about helping anyone who is not rich." itep.org/dont-hold-yo...

While most Kentuckians are struggling with affordability, the wealthy have been showered with enormous state and federal tax cuts passed over the last decade, a new @kypolicy.bsky.social reports shows. 1/