The Institute on Taxation and Economic Policy
What's New
Congress Should Reject Proposed Tax Breaks for Crypto
July 16, 2026 • By Steve Wamhoff
Crypto provides no clear benefit and instead harms society in several ways. Even if crypto was useful in some way that outweighed the harms it causes, there is no reason to make exceptions that treat it more generously than other types of assets or transactions.
New Legislation Would Require Big Multinationals to Tell Shareholders Where They’re Hiding Offshore Profits
July 16, 2026 • By Matthew Gardner
Sen. Chris Van Hollen introduced legislation requiring big multinational corporations to tell shareholders and the public what they’re already telling tax authorities behind closed doors: how much income they’re booking in specific offshore tax havens and how little tax they’re paying to these jurisdictions.
Ineffective Sales Tax Holidays Miss the Mark
July 15, 2026 • By Miles Trinidad
Twenty states have sales tax holidays in 2026. These sales tax holidays will cost states and localities nearly $600 million in lost revenue this year, and they're poorly targeted and too temporary to meaningfully change the regressive nature of a state’s tax system.
Missouri’s Amendment 5 Would Cut Taxes for the Rich and Raise Taxes on Seniors and the Middle Class
July 14, 2026 • By Eli Byerly-Duke
On August 4, Missouri voters will vote on whether to increase taxes on the middle class and seniors to fund tax cuts for the richest households in the state.
Trump Administration Says Shining Light on Corporate Tax Avoidance is ‘Very Dangerous’
July 14, 2026 • By Matthew Gardner
Administration officials appear far more concerned about the public knowing too much about how U.S. corporations shift their income into offshore tax havens.
ITEP in the News
CBS News: The One Big Beautiful Bill Act is 1 year old. Here are the winners and losers.
Yahoo News: Hawaii’s new ‘millionaire tax’ rivals top tax rate among other states
Lexington Herald-Leader: How are gas prices set in KY? From oil to the pump, here’s what to know
Wall Street Journal: Coke Takes on IRS With $20 Billion at Stake
Reuters: Hawaii Considers Gasoline Tax Suspension as Pump Prices Soar
ITEP Work in Action
Center on Budget and Policy Priorities: Missouri Tax Amendment Likely to Seriously Harm Services, Shift Taxes Onto Working Families
California Budget and Policy Center: Should Voters Approve Prop. 3? How Top Tax Rates Have Helped Californians
Migration Policy Institute: Rooted in the Valley: Immigrants in Napa County’s Communities and Economy
The Bell Policy Center: Colorado Ballot Guide 2026
CSG Midwest: Conform or decouple? Changes in federal tax policy stir debates in state legislatures
ITEP Videos
Video: Our tax system helped Elon Musk become a trillionaire.
Video: Jimmy Kimmel Cites ITEP’s Corporate Tax Avoidance Work
Video: Taxes on second luxury homes makes sense.
Across the States
Tax Watch
State Tax Watch 2026
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
On the Map
Taxes on Adult-Use Cannabis in Each State
Twenty-three states have legalized the sale of cannabis for general adult use. Every state allowing legal sales applies an excise tax to cannabis based on…
When Did Your State Enact a Child Tax Credit?
The Child Tax Credit (CTC) is an important tool to fight child poverty and help families make ends meet. When designed well, it can also…
State & Local Tax Policy
Ineffective Sales Tax Holidays Miss the Mark
July 15, 2026 • By Miles Trinidad
Missouri’s Amendment 5 Would Cut Taxes for the Rich and Raise Taxes on Seniors and the Middle Class
July 14, 2026 • By Eli Byerly-Duke
2026 Sessions in Review: States Fund Tax Credits by Preserving, Raising Revenue
July 2, 2026 • By Aidan Davis
State-by-State Tax Expenditure Reports
July 1, 2026 • By ITEP Staff
