Institute on Taxation and Economic Policy

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GOP Megabill Breaks America’s Promise to Future Generations

July 10, 2025 • By Amy Hanauer

This country’s biggest historical challenge has been delivering this progress to all Americans, but Republicans have cut it back for everyone, retreating from many 20th century achievements in ways that will slam doors, rather than opening them, for the next generation.

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10 Crazy Comparisons Showing How Much Trump and Congress Just Cut Taxes for the Rich

July 10, 2025 • By ITEP Staff

$117 billion is a big number, so we thought it could use a little context.

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There Were Far Cheaper and Fairer Options Than the Trump Megabill

July 8, 2025 • By ITEP Staff

Congress and the president could have spent less than half that much money on a tax bill that does more for working-class and middle-class households.

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State Rundown 7/8: State Tax Cuts Continue Despite Federal Megabill Passing

July 8, 2025 • By ITEP Staff

The last states are wrapping up legislative sessions, and some are crossing the finish line with major income tax cuts.

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Analysis of Tax Provisions in the Trump Megabill as Signed into Law: National and State Level Estimates

July 7, 2025 • By Carl Davis, Jessica Vela, Joe Hughes, Steve Wamhoff

President Trump has signed into law the tax and spending “megabill” that largely favors the richest taxpayers and provides working-class Americans with relatively small tax cuts that will in many cases be more than offset by Trump's tariffs.

More Recent Work

Across the States

Tax Watch

State Tax Watch 2025

ITEP tracks tax discussions in legislatures across the country and uses our unique data capacity to analyze the revenue, distributional, and racial and ethnic impacts of many of these proposals. State Tax Watch offers the latest news and movement from each state.

Get weekly updates by signing up for our State Rundown newsletter.

Learn more about state taxes across the country, read Who Pays?

State Rundown & On the Map

State Rundown 7/8: State Tax Cuts Continue Despite Federal Megabill Passing

The last states are wrapping up legislative sessions, and some are crossing the finish line with major income tax cuts.

Taxes on Adult-Use Cannabis in Each State

Twenty-three states have legalized the sale of cannabis for general adult use, and sales are already underway in 21 of those states. Every state allowing…

State & Local Tax Policy

Local Tax Trends in 2025

July 1, 2025 • By Rita Jefferson

With Fiscal Uncertainty Looming, Louisiana Senate Did the Right Thing on Tax Bills

June 27, 2025 • By Neva Butkus

Alabama Sunsets its Expensive ‘No Tax on Overtime’ Policy

June 18, 2025 • By Neva Butkus

Expert's View

Carl Davis

Carl Davis
Research Director

The Geographic Distribution of Extreme Wealth in the U.S.

Excessive concentration of wealth runs counter to our national aspiration for genuine equality of opportunity, and it saps the vitality of our democracy through the consolidation of power and influence. Tax policy offers a powerful means of beginning to address our nation’s stark level of inequality, but current law is clearly falling short of its potential.

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