Institute on Taxation and Economic Policy (ITEP)
2026 Sessions in Review: States Move to Tax the Rich and Corporations

This year several states raised income tax rates on high-income people to fund crucial services and make progress toward remedying the regressive tilt of their tax codes.

A Year Later, Many States Have Decided Not to Double Down on Trump’s Tax Cuts

Nearly one year after the Trump tax law was signed, many of the 42 states with income taxes are declining to incorporate significant parts of the new law into their own tax codes.

Jenell Burns

June 23, 2026 • By ITEP Staff

Jenell Burns

Jenell Burns is the Operations Manager at ITEP. She supports the organization’s financial administration, operations, and organizational systems. Formerly with Funders for Justice, Jenell has spent her career supporting mission-driven organizations by strengthening their operations, streamlining processes, and helping teams work more effectively. She is passionate about building sustainable systems, fostering collaboration, and enabling organizations […]

Wall Street Journal: Coke Takes on IRS With $20 Billion at Stake

June 22, 2026

Coca-Cola is waging a high-stakes corporate battle with more than $20 billion at stake, and the opponent isn’t Pepsi or even Dr Pepper. It’s the Internal Revenue Service.

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Why Corporations Must Pay More

June 22, 2026 • By Steve Wamhoff, Amy Hanauer

Why Corporations Must Pay More

Corporate tax reforms could be more resilient than proposals to tax wealth or unrealized capital gains while achieving the same goal of more adequately taxing the income of billionaires.

The Impact of Proposed New Tax Credit Restrictions for Immigrant Filers: An Analysis of State EITCs

Immigrants and their families in as many as 30 states are at risk of seeing their state tax credits such as the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) reduced unless state lawmakers act.

Rhode Island Budget Bets on Tax Fairness with Millionaires’ Tax and New Child Tax Credit

The spending plan, signed into law by Gov. Dan McKee today, features a new millionaires’ tax, the state’s first permanent child tax credit, expanded eligibility for its Social Security exemption , and strategic decoupling from federal business tax provisions.

The Final Frontier of Tax Avoidance: Elon Musk’s SpaceX Has $1.9 Billion to Gain from Defunding the IRS

A year after Elon Musk’s Department of Government Efficiency (DOGE) cut a swath of destruction through vital federal agencies including the Internal Revenue Service, Musk’s apparent antipathy toward the IRS suddenly makes more sense.  

Public Citizen: The Current Price of Zero

June 11, 2026 • By ITEP Staff

Public Citizen: The Current Price of Zero

The Institute on Taxation and Economic Policy (ITEP) found that at least 88 of the nation’s largest corporations paid zero federal corporate income tax in fiscal year 2025, despite reporting a combined $105 billion in US pretax income.

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State Rundown 6/11: Taxing the Rich Heats Up

June 11, 2026 • By ITEP Staff

State Rundown 6/11: Taxing the Rich Heats Up

As we head into summer, many state legislatures are in the final stretches of their sessions. Rhode Island moved another step closer to joining the ranks of Washington, Maine, and Hawai’i in enacting a new high-income surcharge this year.

Reuters: Hawaii Considers Gasoline Tax Suspension as Pump Prices Soar

June 11, 2026

Hawaii Governor Josh Green said he is considering pausing the state's gasoline tax as ‌pump prices surge three months into the Iran war.

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How To Build A Better City Budget

June 9, 2026 • By Rita Jefferson

How To Build A Better City Budget

As rising costs strain our community and household budgets, Philadelphia Mayor Cherelle Parker’s proposed taxes attempted to patch gaping holes with meager solutions.

Time: Trump Demands Israel and Iran ‘Stop Shooting’ as World Leaders Urge Restraint Amid Renewed Hostilities

June 9, 2026

President Donald Trump said Israel and Iran “must immediately stop shooting” early Monday morning after the two countries launched a series of strikes at one another.

Idaho Center for Fiscal Policy: How Federal and State Tax Cuts Shift Costs onto Idaho Families and Communities

Since 2018, however, Idaho households have received $4.5 billion in state and federal income tax cuts—an amount that exceeds current state investments in health and education combined.

The Oklahoman: GOP Candidates Say Income Tax Cuts Would End Oklahoma’s Corporate Exodus

June 2, 2026

Several leading candidates in the GOP race for governor are calling to eliminate income taxes as a way to attract and retain businesses in Oklahoma.

The Atlantic: The Gas-Tax Reckoning

May 28, 2026

President Trump supports the gas tax holiday, claiming it will counter rising costs at the pump. Savings from the suspension would likely fail to offset high gas prices for consumers. Read more.

Media Matters For America: Right-Wing Media Go To Bat for New York’s Richest by Pushing a Debunked Myth That Higher Taxes Will Cause Millionaires To Flee

According to the Institute on Taxation and Economic Policy, “Millionaires are unlikely to move because of taxes. Instead, like most other people, millionaires primarily choose where to live based on community ties, schools, and jobs, and are not likely to uproot their lives based on a marginal tax difference.” Read more.

Washington Center for Equitable Growth: Defining Top Wealth and Income Thresholds for U.S. Tax Policy Design and Analysis

ITEP cited in a report that outlines wealth and income thresholds to policymakers, explaining why measuring both income and wealth is more difficult than might be expected. Read more.

Time: Democrats Criticize Trump After He Dismisses Soaring Gas Prices As ‘Peanuts’

May 20, 2026

Affordability remains a central issue for Americans as prices at the pump and other everyday costs continue to rise. According to the Institute on Taxation and Economic Policy, Americans have paid over $39 billion more to oil companies since prices began rising after the war started. Read more.

Georgia Budget and Policy Institute: Governor Kemp Unilaterally Issues $344 Million in Spending Cuts To Fund Tax Cuts for Corporations, High Income Earners

ITEP cited in a review of Governor Kemp’s spending cut anskewed toward those already earning the highest incomes and away from meeting the needs of working and middle-income families. Read more.

Pluribus News: Taxing Big Tech’s Ad Revenue Gains Momentum in Statehouses

May 18, 2026

Utah joins the growing number of states interested in a digital advertising tax. Read more.

PEW: The Remote Work Challenge: Lessons From 5 Cities

Atlanta, Boston, Dallas, Denver, and Milwaukee all struggle with office vacancies and underperforming downtowns due to this rise in remote work. Even apart from remote work, cities are entering a new period of fiscal stress. They may need help from state and national leaders to thrive. Read more.

The Guardian: Republicans’ Plan for Zero State Income Tax Could Be ‘Devastating’, Experts Warn

May 18, 2026

A Missouri proposal to eliminate income tax and expand sales tax would result in depleted public funds and higher income inequality in the state. Read more.

The New York Times: What You Need to Know About the Federal Gas Tax

May 18, 2026

A gas tax suspension would cut federal revenue by $2.4 billion a month, and save families earning less than $53,000 a year about $5 a month, according to the Institute on Taxation and Economic Policy. Read more. 

Associated Press: What a US Gas Tax Suspension Could Mean for Drivers and the Prices They See at the Pump

May 18, 2026

The U.S. gas tax is the single biggest source of revenue for federal highway and public transit programs. A suspension is unlikely to offset high prices at the pump, but “you could very easily imagine some kind of combination of higher national debt and lower funding for roads and bridges and other transportation projects,” Carl […]