Contact: Jon Whiten ([email protected]) Taxing the proceeds generated by wealth – such as capital gains, dividends, and passive business income – 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, according to a new report by the Institute […]

Contact: Jon Whiten (ITEP) [email protected] A new analysis from the Institute on Taxation and Economic Policy (ITEP) reveals that five states—Kansas, Mississippi, Missouri, Ohio, and Oklahoma—enacted the most significant income tax cuts for millionaires in 2025, collectively reducing state revenues by more than $800 million in 2026 and an estimated $2.2 billion a year once […]

Looking to understand how state and local tax systems work – and how they affect economic and racial inequality? The new ITEP Guide to State & Local Taxes breaks down key concepts like the difference between flat and graduated income tax rates, the kinds of taxes local governments can levy, and much more. The guide […]

Contact: Jon Whiten ([email protected]) Child Tax Credits have been the focus of increased lawmaker attention over the past few years, especially following the dramatic success of the 2021 federal CTC expansion in reducing child poverty and the subsequent resurgence of pre-pandemic child poverty levels. While 15 states now supplement the federal credit with their own […]

Sarah C. G. Christopherson is a senior advisor to progressive nonprofits who has two decades of experience working for and with Congress and the Executive Branch to achieve progressive victories across a host of issues. She specializes in tax, budget, and health policy. Her past roles include legislative and policy director for Americans for Tax […]

A pair of new briefs from the Institute on Taxation and Economic Policy (ITEP) illustrate the growing power of state Earned Income Tax Credits (EITCs) and Child Tax Credits (CTCs). In all, we find: Nearly two-thirds of states (31 plus the District of Columbia and Puerto Rico) have an Earned Income Tax Credit (EITC). These […]

A new report released today by the Institute on Taxation and Economic Policy explains how individuals and families will see their taxes change in 2026 as a result of the new law, using the “current policy baseline.” Key findings:  The megabill will raise taxes on the poorest 40 percent of Americans, barely cut them for […]

Over the next month, 15 states will temporarily exempt a range of products from sales tax, joining one that held its sales tax holiday earlier this summer and two that do so a little later in the year. While these temporary suspensions may have some surface appeal, they have many significant downsides, as we explain in […]

With home values rising across the country, some residents are increasingly unhappy with their rising property tax bills. As legislators search for solutions, it is important to realize we have been here before — and we know what does not work. The last time states were persuaded to “fix” their property taxes by passing tight […]

If instead of giving $117 billion to the richest 1 percent, that money had been evenly divided among all Americans, we'd each get $343 - or nearly $1,400 for a family of four.

This country’s biggest historical challenge has been delivering this progress to all Americans, but Republicans have cut it back for everyone, retreating from many 20th century achievements in ways that will slam doors, rather than opening them, for the next generation.

President Trump this weekend signed into law a massive tax and spending megabill that will reduce revenue by around $570 billion in 2026 and mainly help the richest Americans and foreign investors. As a new report from ITEP details, Congress and the president could have spent less than half that much money on a tax bill […]

President Trump has signed into law the tax and spending “megabill” that largely favors the richest taxpayers and provides working-class Americans with relatively small tax cuts that will in many cases be more than offset by Trump's tariffs.

This afternoon President Trump signed the tax and spending megabill into law. See below for a statement from ITEP and related resources. STATEMENT FROM JON WHITEN, DEPUTY DIRECTOR OF THE INSTITUTE ON TAXATION AND ECONOMIC POLICY: “With the tax and spending megabill that was signed into law today, Donald Trump and Congressional Republicans are turning […]

The House of Representatives today narrowly passed a massive tax and spending reconciliation bill that now heads to President Trump’s desk. Please see below for a statement from ITEP and our latest updated analysis of how the bill’s tax provisions will affect families at different income levels nationally and in every state. STATEMENT from AMY […]

It is clear that this tax credit has the potential to come with an enormous cost if private school groups are successful in convincing their supporters to participate. In these times of very high debt and deficits, this is reason for all of us to be uneasy.

Today the Senate passed the tax and spending megabill, sending it to the House. See below for a statement from ITEP as well as our analyses of the tax impacts of the legislation.  STATEMENT from AMY HANAUER, EXECUTIVE DIRECTOR OF THE INSTITUTE ON TAXATION AND ECONOMIC POLICY: “This abominable bill will make history – in […]