Institute on Taxation and Economic Policy

ITEP's Research Priorities

PolitiFact: Trump Signs Legislation Introducing Federal Tax Credit for School Choice

July 17, 2025

The new legislation adds a new option for people to support school choice programs, but does not guarantee what Trump describes as "universal school choice."

Fortune: For the First Time in 50 Years, The U.S. Will Likely Experience Negative Net Migration, Shrinking The U.S. Workforce – And Economic Growth by Extension

July 16, 2025

President Donald Trump’s efforts to deport millions of immigrants could likely result in a hit to the U.S. labor force that would shrink the country’s gross domestic product, new data shows.

Demos: The Reconciliation Bill Is a Brazen Betrayal of Present and Future Generations

July 16, 2025

The passage of the inaptly named “One Big Beautiful Bill” is a loss for the country, not just because of immediate cost and economic harm it will cause families but because of the future we’re giving up. Slashing funding for programs that support individual and community well-being in order to cut taxes for the wealthy elite will most directly and immediately harm households with the fewest resources, but ultimately, everyone will lose out on a better future.  

Joint Center for Political and Economic Studies: Joint Center Launches 2025 Tax Advisory Committee

July 15, 2025

Today, the Joint Center for Political and Economic Studies officially launched its 2025 Tax Policy Advisory Committee. This committee will play a critical role in informing the Joint Center’s tax research, helping shape public discourse around tax policy issues affecting Black communities, and contributing to efforts to close the racial wealth divide.

USA Today: Would Mamdani’s ‘Millionaire Tax’ Chase the Rich Out of New York City?

July 14, 2025

Taxing the rich has worked before. In the World War II era, the wealthiest Americans endured a top tax rate above 90% to buoy the economy. But would it work now? 

Florida Policy Institute: What Floridians Should Know About the FY 2025-26 Tax Package

July 11, 2025

Once again, policymakers are pursuing tax cuts and plan to pay for them with budget cuts. All the while, three-quarters of Florida prisons do not provide A/C; over 2.5 million Floridians are without health coverage; thousands of homebound adults and disabled individuals are stuck on long waitlists for home and community-based care; and the state’s affordable housing crisis continues.

The Bell Policy Center: Colorado’s Rural Communities Will Suffer from the Federal Budget Bill

July 11, 2025

It’s been widely acknowledged that the bill’s benefits and burdens will be unequally felt. Yet, within these analyses, impacts on the urban-rural divide are often overlooked. As we detail below, the federal bill is likely to worsen the economic well-being of rural Colorado while providing substantial benefit to affluent suburban and mountain resort communities.

Rolling Stone: Every Dirty Gift Trump’s Big Bill Gives the Fossil Fuel Industry

July 10, 2025

Trump’s “Big Beautiful Bill” provides billions of dollars in giveaways to the fossil fuel industry and its wealthiest executives while taking a machete to our national effort to confront the climate crisis and build healthier, more sustainable, and more just communities. 

Washington Post: Conservatives Are Asking Trump for Another Big Tax Cut

July 10, 2025

Fresh off passage of the “One Big Beautiful Bill,” several conservative organizations and Republican lawmakers are preparing to ask President Donald Trump for another major tax cut – this time, potentially without congressional approval.

NC Newsline: NC Lawmakers Urged to Act as Federal Cuts Threaten State Services

July 10, 2025

A coalition of policy experts and wealthy advocates warned North Carolina lawmakers that recent federal budget cuts could devastate state services, urging action to protect health care, food assistance and other public programs.

The American Prospect: Right-Wing State Tax ‘Revolution’ Rolls On

July 10, 2025

Donald Trump and congressional Republicans aren’t the only ones enacting massive tax cuts that heavily favor the wealthy and big business. Republican state legislators backed by corporate-funded advocacy groups have also made significant strides toward flattening or eliminating once-progressive state income taxes in this year’s legislative sessions.

CNN: Here’s Who Will – And Won’t – Qualify for the New Car Loan Interest Deduction

July 9, 2025

President Donald Trump’s mega tax-and-spending cuts bill, signed into law last week, contains plenty of new tax provisions, the contours of which Americans are still digesting.

Washington Post: Trump’s Tax Law Includes a $40,000 SALT Cap. Here’s Who Qualifies.

July 9, 2025

The new GOP tax law quadruples how much people can deduct in state and local taxes off their federal returns, offering significant relief to high earners in many Democratic-led states by partially undoing a big change in President Donald Trump’s 2017 law.

CAP: A New Immigration System To Safeguard America’s Security, Expand Economic Growth, and Make Us Stronger

July 7, 2025

"America needs to fix its broken immigration system. Bipartisan reform attempts have repeatedly failed over more than three decades, as Congress has kicked the can down the road without solving fixable problems. The existing, outdated system fails us all. We must make the immigration system work for America."

DC Fiscal Policy Institute: Statement on Final Passage of Federal Budget Reconciliation Bill

July 7, 2025

Today, Congressional Republicans gave final approval to a federal budget bill that makes historic cuts to social safety net programs, funnels unprecedented resources into mass deportation, and gives trillions in tax cuts largely to the wealthy while ballooning the deficit. Read more.

New York Times: States Brace for Added Burdens of Trump’s Tax and Spending Law

July 7, 2025

The ink is not even dry on the far-reaching domestic policy law that President Trump signed on Friday, and already state governments are bracing for impact as Washington shifts much of the burden for health care, food assistance and other programs onto them.

Washington Post: How Trump’s Big Bill Will Affect You, From Medicaid Cuts to Tax Credits

July 7, 2025

Congress has signed off on a $3.4 trillion legislative package featuring new tax breaks, spending cuts, and more funding for defense and immigration enforcement, delivering President Donald Trump his “big, beautiful bill” despite rumblings from fiscal hawks about the projected $4 trillion it could add to the national debt over the next decade.

Yahoo Finance: Child Tax Credit Gets Small Boost in Trump’s Tax Bill, but Millions of Families Are Left Out

July 7, 2025

The popular child tax credit will receive a slight boost from President Trump’s signature tax and spending bill – but there are caveats.

New York Times: Congress Passes a National School Voucher Program

July 7, 2025

The plan, part of the Republican domestic policy bill, includes all but the wealthiest families. But states must opt in, which could limit its reach.

More Perfect Union: The One Big Beautiful Bill Is a Big Corporate Cash Grab

July 3, 2025

While the bill will make life harder for millions of current Medicaid recipients and low-income families, a wide swath of corporate America came out as big winners. Here’s a look at the industries that won in the “One Big Beautiful Bill,” and one that didn’t quite get everything it wanted.

CNBC: Why Trump Tax Deductions – For Tips, Car Loans and More – May Not Carry Large Benefits for Low Earners

July 3, 2025

How much money you save with tax deductions, which reduce your taxable income, depends on your bracket. Deductions are more valuable to higher-income households and less beneficial for lower earners, experts said.

Center for Law and Social Policy: Senate Budget Reconciliation Bill Sacrifices the Well-Being of Working Families to Give Tax Breaks to Billionaires

July 2, 2025

The budget reconciliation bill passed today by the Senate on a vote of 51-50, with Vice-President Vance casting the tie-breaking vote, will cause significant harm to millions of children and families, all for the sake of providing more tax breaks for the wealthy.

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Local Tax Trends in 2025

July 1, 2025 • By Rita Jefferson

As federal aid ends and economic uncertainty grows, local governments face tough budget choices. Now is the time for localities to protect vulnerable residents and build stronger, more equitable fiscal foundations.

Newsweek: Did Republicans Just Kill the Filibuster?

July 1, 2025

Michael Ettlinger, a political adviser who previously worked with the Biden-Harris campaign, said, "If the Republican's new accounting method becomes the norm, it will be far easier to pass deficit increasing legislation in the Senate with a simple majority vote – limiting the impact of the filibuster."

CBPP: Missouri Poised to Enact Appalling Giveaway to its Richest Residents

June 30, 2025

The exemption could reduce state revenues by around $600 million each year, according to the Institute on Taxation and Economic Policy, roughly equal to the cost of funding 11,000 public school teachers’ salaries. Read more.