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The Wealth Proceeds Tax: A Simple Way for States to Tax the Wealthy
October 30, 2025 • By Sarah Austin, Carl Davis
Taxing the proceeds generated by wealth through a new Wealth Proceeds Tax is a simple way for states to raise billions in new revenue and improve the fairness of their tax systems.
States across the nation are debating how best to respond to costly new federal tax cuts.
Why States Shouldn’t Go Along With OBBBA’s Corporate Tax Breaks: A Practical Guide
October 27, 2025 • By Nick Johnson, Michael Mazerov
States should immediately decouple from four costly corporate tax provisions in the new federal tax law.
The 5 Biggest State Tax Cuts for Millionaires this Year
October 16, 2025 • By Dylan Grundman O'Neill, Aidan Davis
Some states continue to hand out huge tax cuts to millionaires. The five largest tax cuts this year will cost states a total of $2.2 billion per year once fully implemented.
Well, That Was Fast: Trump Tax Law’s New Corporate Breaks are Already Worsening the Deficit
October 9, 2025 • By ITEP Staff
Corporate income taxes for the fiscal year that ended in September are $77 billion lower than in the previous year, a 15 percent drop.
Many lawmakers who were vocal supporters of this bill will see direct personal benefits while most of their constituents benefit little or will be worse off.
The Potential of Local Child Tax Credits to Reduce Child Poverty
October 8, 2025 • By Kamolika Das, Aidan Davis, Galen Hendricks, Rita Jefferson
Local governments have a critical role to play in reducing child poverty. Local Child Tax Credits could provide large tax cuts to families at the bottom of the income scale, lessening the overall regressivity of state and local tax systems.
Quite Some BS: Expanded ‘QSBS’ Giveaway in Trump Tax Law Threatens State Revenues and Enriches the Wealthy
October 2, 2025 • By Sarah Austin, Nick Johnson
States should decouple from the federal Qualified Small Business Stock (QSBS) exemption.
State Rundown 10/1: State and Local Governments Doing the Opposite of Shutting Down
October 1, 2025 • By ITEP Staff
State and local officials are staying very busy by considering a dizzying amount of reversals.
Leaving Billions on the Table: Trump-Induced Brain Drain Leaves the IRS Struggling to Prevent Corporate Tax Avoidance
September 25, 2025 • By Matthew Gardner
The IRS's capacity to prevent big multinational corporations from avoiding income taxes is facing a generational crisis.
Stateline: Red States Pushed Child Tax Credits This Year, but the Broadest Plans Fizzled
September 24, 2025
But despite initial optimism from sponsors and child welfare advocates, Republican proposals in Indiana and Ohio did not advance this year. Had either measure passed, it would have been the first refundable child tax credit approved in a conservative state. Read more.
The Atlantic: The Last Americans Really Paying Taxes
September 23, 2025
The tax code is becoming more chaotic and less fair. Read more.
Barron’s: A New Billionaires Income Tax May Not Go Anywhere Right Now. But Democrats See a Winning Issue.
September 22, 2025
Democratic lawmakers introduced identical bills in the House and Senate to tax billionaires earlier this week, resurrecting a proposal that has failed to become law in the past. Read more.
Rep. Steve Cohen: Congressmen Cohen and Beyer and Senator Wyden Introduce the Billionaire Income Tax Act
September 18, 2025
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 […]
Rep. James E. Clyburn: Trump’s “Big Beautiful Bill” Steals from the Poor, Gives to the Rich
September 18, 2025
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.
Americans for Tax Fairness: Public Interest Groups Back Billionaires Income Tax to Establish Fairness and Invest in Families, Not the Ultrawealthy
September 18, 2025
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 […]
West Virginia Center on Budget & Policy: “One Big Beautiful Bill’s” Tax Provisions a Bad Deal for WV (Unless You’re Rich)
September 18, 2025
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 […]
Washington Center for Equitable Growth: How U.S. tax policies have fueled right-wing populism
September 18, 2025
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 […]
State Rundown 9/18: Lawmakers Confront Revenue Loss from Federal Policy Changes
September 18, 2025 • By ITEP Staff
Some states are trying to avoid revenue loss while others are welcoming it and doubling down.
Child Poverty Remains Unacceptably High, New Federal Changes Unlikely to Move Needle
September 16, 2025 • By Neva Butkus
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.
IRS Enforcement Boost Was Supposed to Last 10 Years. Congress Killed It in Under Three.
September 16, 2025 • By Sarah C. G. Christopherson
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.
State Child Tax Credits Boosted Financial Security for Families and Children in 2025
September 11, 2025 • By Neva Butkus
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.
President Trump is Still Lying About Ending Taxes on Social Security
September 11, 2025 • By Matthew Gardner
Why is Trump saying that he has eliminated taxes on Social Security?
New Jersey Policy Perspective: Freedom from Want: An Economic Guarantee for New Jersey’s Kids
September 11, 2025
All children in New Jersey deserve the freedom to grow up safe, healthy, and free from poverty.
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