667 posts
The American Prospect: The Companies That Got $83 Billion in Tax Breaks Last Year
August 18, 2026
According to a recent analysis by the Institute on Taxation and Economic Policy (ITEP), companies avoided paying more than $200 billion in federal income tax in 2025.
Six Companies Reaped $83 Billion in Federal Tax Breaks in 2025
• By Sarah Buttikofer, Matthew Gardner
Six companies alone accounted for $83 billion of federal tax breaks disclosed by publicly traded U.S companies so far for 2025. Microsoft received a record high for single-year federal tax breaks for one publicly traded company, followed by Alphabet, Amazon, Meta, JPMorgan Chase, and Nvidia.
State Rundown 8/13: Income Tax Elimination Fails in Missouri
• By ITEP Staff
In a win for Missouri workers and families, voters overwhelmingly rejected a proposed amendment that would have allowed lawmakers to replace the state's income tax with increased or expanded sales taxes.
How Federal Tax Policy Can Address AI
• By Steve Wamhoff, Joe Hughes, Erika Frankel
Congress could use its taxing power to ensure a fairer distribution of the fruits of labor, innovation and investment, address the specific harms (the negative externalities) of AI specifically, and acquire a public stake in the companies that are driving the AI revolution.
New Yorkers, Please Pay Your City Income Taxes: Why the Pied-à-Terre Tax Rollout Is Not Worth a Meltdown
• By Rita Jefferson
The news coverage of the second home tax has been disconnected from the real living conditions for the millions of New Yorkers who don’t own a second (or third, or fourth) home.
St. Louis Post-Dispatch: After Missouri Voters Reject Income Tax Plan, Governor Says He’ll Still Work to Cut Taxes
August 7, 2026
Voters overwhelmingly rejected a proposed constitutional amendment Tuesday that would have triggered the phase-out of the state’s income tax by giving lawmakers the ability to raise sales and services taxes.
Center for American Progress: Americans Pay the Price for Trump’s War While Oil and Gas Companies Get Rich
August 7, 2026
As Americans pay more at the pump, five of the top oil and gas companies have brought in $65.5 billion in profit so far this year—up 65 percent from this time last year.
Video: These airlines avoided almost all federal income taxes in 2025.
• By Marcus Rojas
Your travel costs are going up, but their tax bills are going down.
Trump Says Exxon and Chevron Are Ripping Off Americans, But His Own Policies Are to Blame
• By Matthew Gardner
President Trump lashed out at ExxonMobil and Chevron for “making too much money." These companies are reporting enormous profits right now, partly the result of Trump’s war in Iran but also due to the corporate tax policies he's passed during his time in office.
Congress Should Reject Proposed Tax Breaks for Crypto
• 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.
Video: The Trump administration wants to restrict tax credits for lawfully present immigrants.
• By Marcus Rojas
The Trump administration is targeting immigrants again.
State Rundown 7/14: 250 Years of Good Reasons to Tax the Rich
• By ITEP Staff
As our nation celebrates and reflects 250 years since its adoption of the Declaration of Independence, several states have moved to pass lingering budgets.
Video: Why are states handing out billions in tax breaks to data centers?
• By Marcus Rojas
State lawmakers are rushing to offers billions in subsidies to data centers.
Video: The 2026 FIFA World Cup will cost cities millions.
• By Marcus Rojas
How much is hosting the World Cup costing your city or state?
State Rundown 6/25: Trending This Summer? New Revenue!
• By ITEP Staff
It's the first official week of summer, and while many of us are planning vacations, state lawmakers remain busy finalizing and debating tax proposals.
Video: Our tax system helped Elon Musk become a trillionaire.
• By Marcus Rojas
Elon Musk can thank the U.S. government for the enormous tax breaks and subsidies that helped him become the world's first trillionaire.
The Impact of Proposed New Tax Credit Restrictions for Immigrant Filers: An Analysis of the DACA Recipient Population
• By Carl Davis, Erika Frankel, Emma Sifre
We find that 337,000 people in households with at least one DACA recipient will suffer financial harm, and that nearly two-thirds (66 percent) of the impacted individuals are U.S. citizens.
Video: Jimmy Kimmel Cites ITEP’s Corporate Tax Avoidance Work
• By ITEP Staff
"And he is so grateful to this country that allowed him to become a trillionaire, Tesla paid almost no federal income tax over the past three years."
Celebrate Juneteenth With Tax Justice for All
• By Brakeyshia Samms
If Juneteenth is to mean anything beyond symbolism, it must also be a call to confront the policies that continue to shape racial inequities today. One of the most powerful drivers of that inequity is our tax system.
A Growing Number of States Are Taxing the Sale of Advertising
• By Nick Johnson
ITEP’s report on taxing advertising identifies some reasons why states are curtailing longstanding sales tax exemptions for the ad sector.
Video: Taxes on second luxury homes makes sense.
• By Marcus Rojas
A tax on luxury second homes raises significantly more money to help communities thrive in the long term.
States Are Standing Up to the Monster Known as QSBS
• By Nick Johnson
We estimate that by 2032, QSBS will be costing states $1.1 billion a year, and since states must balance their budgets, that’s money they can’t use for public services.
States Can Raise Billions by Ending a Tax Giveaway to Big Tech
• By Nick Johnson
An advertising tax offers a way to raise significant money from a sector of the economy that has been getting a free ride for decades.
Video: Jeff Bezos is wrong about taxes.
• By Marcus Rojas
The majority of Americans support taxing the rich, and it's no surprise that some of the ultra-wealthy are trying to misinform that conversation.
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
Subscribe to ITEP Emails
Tax research and policy news in your inbox.
Promote Fair Tax Policy
Your gift to ITEP promotes tax justice. With your help, we do research that supports taxing millionaires and billionaires, taxing big corporations and raising revenue for the things our people, our communities and our planet need.
Together, we can create a country with more economic justice, more racial justice, more climate justice… and more tax justice.