WASHINGTON – Congressmen Steve Cohen (TN-9) and Don Beyer (VA-8) and Senator Ron Wyden of Oregon today introduced bicameral Billionaire Income Tax Act bills in an effort to establish a level of fairness in federal taxation and prevent millionaires and billionaires (and one prospective trillionaire) from avoiding significant liability. The measure would tax wealth gains as […]

The Institute of Taxation and Economic Policy estimates that in 2026, South Carolina’s wealthiest 1%—those making over $782,500 a year—will receive an average tax cut of $68,260, while the lowest-income residents, earning under $23,200, will face an average tax increase of $30, in addition to steep cuts to Medicaid and SNAP. Read more.

Today, dozens of public interest organizations representing millions of Americans announced their strong support for the Billionaires Income Tax (BIT), introduced by Senator Ron Wyden (D-OR), Rep. Donald Beyer (D-VA), and Rep. Steve Cohen (D-TN). The legislation would finally ensure the wealthiest Americans pay their fair share in taxes—just like working families who contribute out […]

Proponents of the “One Big Beautiful Bill” (HR 1), including all four of West Virginia’s members of Congress, have repeatedly touted the tax provisions of the legislation as benefiting most or all West Virginia families. The WVCBP has already covered in detail how the SNAP and Medicaid provisions of HR 1 are particularly harmful for West Virginians […]

Among the many factors fueling support for right-wing populism in the United States is federal tax policies. The nation’s tax system confuses, frustrates, and angers many citizens in ways that leave them vulnerable to populist appeals from the right. A mismatch between how the federal tax system works in theory and how it works in […]

Some states are trying to avoid revenue loss while others are welcoming it and doubling down.

By not extending the 2021 temporary Child Tax Credit expansion, federal lawmakers have allowed the number of children and families in poverty to increase and remain unnecessarily high.

The IRS was set to overhaul how it audits the ultra-rich. Now most of that funding is gone.

What currently stands in the way of better corporate tax transparency.

Child Tax Credits (CTCs) are effective tools to bolster the economic security of low- and middle-income families and position the next generation for success.

Why is Trump saying that he has eliminated taxes on Social Security?

All children in New Jersey deserve the freedom to grow up safe, healthy, and free from poverty.

An analysis by the Institute on Taxation and Economic Policy found that this new private school voucher program could cost $56 billion per year—more than all current federal K-12 spending combined.

Rhode Island lawmakers created a new surcharge on second homes worth more than $1 million as part of the budget enacted this spring.

A drafting error in the 2017 tax law will cost U.S. taxpayers over $1 billion in unintended tax cuts for big multinationals.

An analysis by the Institute on Taxation and Economic Policy found that this new private school voucher program could cost $56 billion per year—more than all current federal K-12 spending combined.

Despite an increasingly bleak state revenue outlook, state lawmakers across the country continue to prioritize regressive tax cuts.

The new tax law enacted last month found a temporary compromise on the level of the cap, boosting it to $40,000 through 2029, but failed to fix a loophole that allows some rich taxpayers with good accountants to completely avoid the cap

While tax news has slowed as summer comes to an end, there are rumblings beneath the surface that could be an inauspicious sign of the times ahead for states and state budgets.