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Analysis of Tax Provisions in the Trump Megabill as Signed into Law: National and State Level Estimates
July 7, 2025 • By Carl Davis, Jessica Vela, Joe Hughes, Steve Wamhoff
President Trump has signed into law the tax and spending “megabill” that largely features an extension of provisions from the 2017 tax law. Overall, the law 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.
Video: ITEP’s Amy Hanauer Discusses Megabill on BreakThrough News
July 6, 2025
ITEP Executive Director Amy Hanauer appeared on BreakThrough News’ The Freedom Side live on Thursday, July 3 to discuss the tax and spending megabill moving through Congress.
Trump Turns Back the Clock on American Progress by Signing Megabill into Law
July 4, 2025 • By ITEP Staff
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 […]
Megabill Is On its Way to Trump: Here’s What its Tax Changes Mean for Families Across the U.S.
July 3, 2025 • By ITEP Staff
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 […]
Megabill Takes Cap Off Unprecedented Private School Voucher Tax Credit, Potentially Raising Cost by Tens of Billions Relative to Earlier Version
July 2, 2025 • By Carl Davis
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.
Houston Chronicle: The Biggest Winners in Texas from Trump’s ‘Big, Beautiful Bill’
July 1, 2025
Most every Texan stands to see at least some benefit from the tax cuts at the heart of President Donald Trump’s “big, beautiful bill.” But the biggest benefits are geared toward the wealthiest people, who will not only continue to enjoy hefty tax cuts but also gain access to a host of new tax breaks of […]
ITEP Statement: Senate-Passed Megabill Makes History in Appalling Ways
July 1, 2025 • By ITEP Staff
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 […]
NEW: ITEP Analysis of Senate Tax Bill Shows Windfall for the Wealthy, Not Much for the Rest
June 25, 2025 • By ITEP Staff
Contact: Jon Whiten ([email protected]) With Senate Republicans hoping to hold a vote soon on their version of the tax and spending package passed by the House last month, a new national and state-by-state analysis from the Institute on Taxation and Economic Policy (ITEP) finds that, like the House-passed bill, the Senate proposal favors the richest […]
Alabama Sunsets its Expensive ‘No Tax on Overtime’ Policy
June 18, 2025 • By Neva Butkus
The idea of exempting overtime pay from income tax has gained traction, but there's little evidence it's an effective policy. Alabama tried it in 2023 but ended the policy after just two years. Their reversal highlights how exempting overtime is an expensive gimmick and a distraction from real worker issues.
ITEP Statement & Resources on the Senate Tax Bill
June 17, 2025 • By ITEP Staff
This is a recklessly expensive bill that will expand economic inequality in America by making the tax code more tilted to the top, and pay for it in part by stripping health care from millions of Americans and rolling back critical climate investments.
The ‘Big, Beautiful’ Bill Creates a $5 Billion Tax Shelter for Private School Donors
June 9, 2025 • By Amy Hanauer
On May 22, Congress passed the House reconciliation bill or “One Big Beautiful Bill Act” by a one-vote margin. The bill’s dozens of destructive tax provisions would supercharge inequality and force devastating cuts to health and food aid that have been bedrocks of the American safety net since the 1960s.
D.C.’s Budget Crisis Demands Fairer Business Tax System
June 9, 2025 • By Nick Johnson
As the Washington, D.C. region heads toward a likely recession, local policymakers will need to look to new revenue sources to help lessen the pain. In D.C., lawmakers ought to adopt a simple reform that would raise substantial revenue and make the District’s business tax system fairer.
West Virginia Center on Budget & Policy: Big Beautiful Bill’s Tax Cuts Overwhelmingly Favor the Wealthiest in West Virginia Even Before Accounting for Tariffs and Benefit Cuts
May 31, 2025
Earlier this month the U.S. House of Representatives passed a major new tax and spending bill that not only represents the largest cuts to Medicaid and SNAP in history, taking away SNAP and Medicaid benefits from millions of recipients including tens of thousands in West Virginia, but also includes tax provisions that would overwhelmingly favor the richest taxpayers in […]
New York Times: Religious Education Lost at the Supreme Court. But It’s Winning Everywhere Else.
May 24, 2025
The court rejected a religious charter school, but conservatives may get much of what they want in a school voucher program that passed the House this week. Read more.
The Guardian: Trump’s ‘Big, Beautiful Bill’ Benefits the Rich at the Expense of the Poor
May 24, 2025
Republicans in Congress are trying to pass a new tax and spending bill that may end up being a “big, beautiful bill” – but mostly for wealthy Americans. Read more.
Inc.: Trump’s ‘Big Beautiful Bill’ Offers a Big Tax Win for Small Businesses
May 22, 2025
The bill that the House of Representatives passed early Thursday morning in a nail-biting 215-to-214 vote—a wide-ranging domestic policy package called the One Big Beautiful Bill—could have wide-ranging and long-lasting implications for U.S. small businesses. Read more.
ITEP Statement: House-Passed Tax Plan Widens the Gap Between the Rich and the Rest
May 22, 2025 • By ITEP Staff
After a floor session that began in the middle of the night, the House of Representatives has passed its reconciliation bill including massive tax cuts and deep cuts to spending. Statement from Amy Hanauer, Executive Director of the Institute on Taxation and Economic Policy: “It’s not surprising that this bill was written behind closed doors […]
ITEP Statement: House’s Recklessly Expensive Tax Bill Would Expand Inequality
May 13, 2025 • By ITEP Staff
This bill gives enormous additional tax cuts to wealthy people and corporations, spikes the deficit, and strips health care from millions of Americans.
El Pais: The Republican Tax Reform Proposal Makes Remittances More Expensive
May 11, 2025
The fight against immigration reaches the tax bill, which includes a tax on money transfers that will affect undocumented immigrants. Read more.
ITEP Statement: Partial House Tax Bill Doubles Down on Trickle Down
May 10, 2025 • By ITEP Staff
So far this costly bill appears to double down on trickle down, with huge tax cuts that will further enrich the rich and not much for the rest of us. What’s more, many of the modest improvements for lower- and middle-income families are proposed to be temporary, whereas the benefits for the wealthiest are proposed to be permanent.
Trump’s Proposed Higher Tax Rate on the Richest Taxpayers Would Affect Very Little of Their Income
May 10, 2025 • By Carl Davis, Steve Wamhoff
President Donald Trump has proposed allowing the top rate to revert from 37 percent to 39.6 percent for taxable income greater than $5 million for married couples and $2.5 million for unmarried taxpayers. But many other special breaks in the tax code would ensure that most income of very well-off people would never be subject to Trump’s 39.6 percent tax rate.
ITEP Testimony: Miles Trinidad on Rhode Island’s High-Earner Income Tax Surcharge
May 6, 2025
This written testimony was submitted to the Rhode Island House Finance Committee on May 6, 2025. Thank you for the opportunity to provide testimony in support of H-5473, a bill to create a 3 percent surcharge on those earning over $625,000 a year. My name is Miles Trinidad. I am an analyst at the Institute […]
Florida Policy Institute: Florida Budget Proposals in Brief (FY 2025-26): Tax and Revenue
May 3, 2025
The Legislature is at a standstill, with two seemingly competing visions for the future of taxes in Florida. On the one hand, the House of Representatives advanced House Bill (HB) 7033 with various changes to the state’s general sales tax, as well as changes to local tourist development taxes. Read more.
Video: ITEP’s Amy Hanauer Discusses Billionaires, Taxes, and More at FP Solutions Summit
April 25, 2025
On April 24, 2025 ITEP Executive Director Amy Hanauer spoke on the panel “The Billionaire Tax Debate: Rethinking Fiscal Responsibility Around the World,” at the FP Solutions Summit. Video is embedded below (the relevant panel begins around the 38:30 mark).
Business Ethics, the Environment & Responsibility: Redefining Purpose: The Effect of the 2019 Business Roundtable Statement on Corporate Tax Strategies
April 23, 2025
Business Roundtable (BRT) firms have faced intense scrutiny from investors, media, and the public following their 2019 “Statement on the Purpose of a Corporation,” which marked a shift from shareholder-centric governance to a stakeholder-focused approach. This shift has sparked debate over whether BRT firms are genuinely committed to social responsibility or merely using it as […]
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