2,364 posts
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.
There Were Far Cheaper and Fairer Options Than the Trump Megabill
• By Steve Wamhoff, Joe Hughes, Jessica Vela
Congress and the president could have spent less than half that much money on a tax bill that does more for working-class and middle-class households.
CAP: A New Immigration System To Safeguard America’s Security, Expand Economic Growth, and Make Us Stronger
• By ITEP Staff
"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 The existing, outdated system fails us all.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
• By ITEP Staff
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.
Top 1% to Receive $1 Trillion Tax Cut from Trump Megabill Over the Next Decade
• By Carl Davis
The Trump megabill will give the top 1 percent tax cuts totaling $1.02 trillion over the next decade. For comparison, the bill’s cuts to the Medicaid health care program will total $930 billion over the same period.
More Perfect Union: The One Big Beautiful Bill Is a Big Corporate Cash Grab
• By ITEP Staff
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.
The SALT Caucus, Fortunately, Comes Up Short
• By Michael Ettlinger
The endlessly debated cap on deductions for state and local taxes (SALT) has emerged in the GOP megabill largely unscathed—despite the efforts of Republican lawmakers from “blue” states. Those lawmakers are correct that the cap reduces the bill’s tax cuts for their wealthy constituents more than for those in other states. The megabill, however, is so loaded up with other provisions that result in a dramatic tax cut for the richest 1 percent in every…
Center for Law and Social Policy: Senate Budget Reconciliation Bill Sacrifices the Well-Being of Working Families to Give Tax Breaks to Billionaires
• By ITEP Staff
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.
Local Tax Trends in 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."
Trump Megabill Will Give $117 Billion in Tax Cuts to the Top 1% in 2026. How Much In Your State?
• By Michael Ettlinger
The predominant feature of the tax and spending bill working its way through Congress is a massive tax cut for the richest 1 percent — a $114 billion benefit to the wealthiest people in the country in 2026 alone.
CBPP: Missouri Poised to Enact Appalling Giveaway to its Richest Residents
• By ITEP Staff
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.
How Much Do the Top 1% in Each State Get from the Trump Megabill?
• By Carl Davis
The Senate tax bill under debate right now would bring very large tax cuts to very high-income people. In total, the richest 1 percent would receive $114 billion in tax cuts next year alone. That would amount to nearly $61,000 for each of these affluent households.
AP News: Ohio Budget Bill With Browns Stadium Funding, LGBTQ+ Restrictions Heads to Gov. Mike DeWine
June 27, 2025
Republicans tout that as a benefit to working Ohioans and the economy and another step in their continuing efforts to reduce the state’s tax burden, with the aim of some of them being to eventually eliminate the income tax entirely. Institute on Taxation and Economic Policy, a Washington, D.C. nonprofit, found 98% of the benefit […]
CNBC: How the Republican Megabill Targets Immigrant Finances
June 26, 2025
“If a U.S. citizen is married to an undocumented immigrant, or if a citizen child has an undocumented parent, then the House bill considers the citizen to have forfeited their right to a range of tax breaks,” ITEP researchers Carl Davis and Sarah Austin wrote in an analysis in May. Read more.
NC Budget & Tax Center: It’s Time for a Millionaire’s Tax in North Carolina
• By ITEP Staff
According to the Institute on Taxation and Economic Policy, this NC Senate proposal alone would deliver an additional average annual tax cut of $64,700 to millionaires in North Carolina, on top of their federal tax cuts and more than a decade of state cuts. This is more than 52 times the average amount received by non-millionaires, who would see roughly $1,200.
Analysis of Tax Provisions in the Senate Reconciliation Bill: National and State Level Estimates
• By Carl Davis, Jessica Vela, Joe Hughes, Steve Wamhoff
Compared to its House counterpart, the Senate bill makes certain tax provisions more generous, including corporate tax breaks that it makes permanent rather than temporary. But the bottom line for both is the same. Both bills give more tax cuts to the richest 1 percent than to the entire bottom 60 percent of Americans, and both bills particularly favor high-income people living in more conservative states.
Nebraska Legislature: Poverty Elimination Action Plan
• By Aidan Davis, Neva Butkus
The COVID-19 pandemic spurred temporary expansions to existing anti-poverty programs, which had a profound impact on poverty rates…Key programs during this period included SNAP, the refundable Child Tax Credit, and increased funding for TANF. As federal pandemic relief has expired, several states have enacted state-level replacements. Read more.
The Wall Street Journal: The Tax Bill Would Deliver a Big Win for Private Schools – and Investors
June 23, 2025
“The new tax credit could become a model for Congress to direct money to other causes through the tax code,” said Carl Davis, research director at the Institute on Taxation and Economic Policy. Read more.
USA Today: Trump Orders ICE to Expand Efforts in NYC, LA, Chicago: See How Many Immigrants Live in Major Metros
June 23, 2025
According to the Institute on Taxation and Economic Policy, undocumented immigrants paid $96.7 billion in federal, state and local taxes in 2022. Of that amount, $59.4 billion was paid to the federal government, and the remaining $37.3 billion was paid to state and local governments. Read more.
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