4,362 posts
New from ITEP: States Could Unlock Up to $27 Billion by Modernizing Outdated Tax Codes to Include Advertising
• By ITEP Staff
States are missing out on billions of dollars in essential revenue by failing to tax the rapidly expanding and evolving advertising industry. Modernizing tax codes to include advertising could raise between $16 billion and $27 billion a year across all states for public services like schools, roads, and healthcare, according to a new report by […]
Pittsburgh Post-Gazette: Trump’s Tariffs Erased Trump’s Tax Cuts
April 24, 2026
As April 15 drew near, Republicans from President Donald Trump on down took turns praising the GOP tax law, their signature accomplishment. … But a recent ITEP study found that there wasn’t more money going into the pockets of anyone but the wealthy. Read more
Sen. Dick Durbin Comments on Government Funding and Tax Breaks
• By ITEP Staff
According to the Institute on Taxation and Economic Policy, at least 88 of some of the largest corporations—including Tesla, Coinbase, and Palantir—made more than $105 billion in 2025. But they paid zero dollars in federal income tax because of the Republican’s One Big Beautiful Bill Act. Collectively, billionaires added $1.5 trillion to their wealth in 2025 […]
Ranking Member DeLauro Opening Remarks at Financial Services, General Government Fiscal Year 2027 Appropriations Full Committee Markup
• By ITEP Staff
Among the excerpts from Rep. DeLauro: Our tax system is broken. Working families are forced to pay far more in taxes as a percentage of their wealth, while massive, multi-billion dollar companies routinely game the system to avoid paying any taxes at all. The Institute on Taxation and Economic Policy (ITEP) just released a report […]
Business Insider: New York Wants to Tax Empty Second Homes. Here’s What Happened in Cities That Tried It.
April 22, 2026
Mayor Zohran Mamdani is gearing up to tax the rich — if they live elsewhere but own multimillion-dollar properties in New York City. Read more.
New Report Finds 88 Major U.S. Corporations Paid Zero Federal Income Tax Despite Billions in Profits
• By ITEP Staff
At least 88 of the largest corporations in the U.S. paid no federal corporate income taxes in 2025, despite collectively earning more than $105 billion in U.S. pretax income, according to a new analysis released today by the Institute on Taxation and Economic Policy. The findings highlight a continuation of longstanding corporate tax avoidance trends, […]
New from ITEP: Trump Tax Policies Raise Costs for Most Americans While Delivering Trillion-Dollar Benefits to the Wealthy
• By ITEP Staff
A new analysis of the first year of tax policy under President Trump’s second term finds that the changes made by the president and Congress will increase taxes for most Americans, significantly expand income inequality, and add trillions to the national debt, while delivering substantial tax cuts to high-income households, corporations, and foreign investors. The […]
Video: ITEP’s Amy Hanauer Discusses How to Make the Federal Tax Code Fairer on WHYY
March 30, 2026
You can also see the segment here
Historic Millionaires’ Tax in Washington Will Make State’s Tax Code Fairer, Raise Critical Revenue
• By ITEP Staff
Today Washington Gov. Bob Ferguson signed into law the state’s new millionaires’ tax, propelling the Evergreen State forward toward a fairer economy with a tax code more based on the ability to pay. The legislation, which makes significant investments in public education and child care, will also expand the Working Families Tax Credit – Washington’s […]
New from ITEP: Gas Price Surge Costs American Drivers $9.4 Billion a Month; Gas Tax Holidays Won’t Solve This Problem for Working Families
• By ITEP Staff
The recent spike in gasoline prices is on pace to cost American drivers an additional $9.4 billion per month, according to a new analysis released today by the Institute on Taxation and Economic Policy (ITEP). Driven by the ongoing Iran war, which has sent prices soaring by about a dollar per gallon in a single […]
Washington State Passes Millionaires’ Tax as More States Look to Tax the Wealthy
• By ITEP Staff
Contact: press@itep.org Last night the Washington legislature took a huge step toward making that state’s tax system fairer by passing a personal income tax on earnings over $1 million. This comes as many states are looking to raise revenue, particularly from people at the top of the income scale who just received massive federal tax […]
Testimony: ITEP’s Marco Guzman Outlines Positive Tax Reform Proposals for Colorado Lawmakers
• By Marco Guzman
This testimony was delivered to the Colorado House Finance Committee on March 9, 2026. You can watch video of the testimony here (Marco starts around the 6:12:40 PM mark). My name is Marco Guzman, and I am a Senior Analyst at the Institute on Taxation and Economic Policy (ITEP). ITEP is a non-profit, non-partisan tax […]
Trump Tax Law’s Tiny Child Tax Credit Increase Fails to Help Those Who Need It Most
• By ITEP Staff
The Child Tax Credit (CTC) boost in the One Big Beautiful Bill Act (OBBBA) leaves millions of families behind while disproportionately helping higher-income households rather than those most in need. There are better alternatives. Contact: press@itep.org Last year, lawmakers slightly increased the Child Tax Credit as part of the so-called “One Big Beautiful Bill […]
Testimony: ITEP’s Miles Trinidad Urges Maryland Lawmakers to Decouple from Tax Breaks for Opportunity Zones and FDEII
• By Miles Trinidad
Chair, Vice Chair, and Members of the Committee, Thank you for the opportunity to submit testimony in support of House Bill 1080, which would decouple the state from federal tax breaks for Opportunity Zones (OZs) and Foreign-Derived Deduction Eligible Income (FDEII). My name is Miles Trinidad, and I am a state analyst with the Institute on Taxation and Economic Policy (ITEP), […]
Testimony: ITEP’s Miles Trinidad Urges Maryland Lawmakers to Decouple from Expanded 529 Education Savings Plans and Not Opt-In to New Private School Voucher Program
• By Miles Trinidad
This testimony was delivered to the Maryland House Ways and Means Committee on February 26, 2026 Chair, Vice Chair, and Members of the Committee, Thank you for the opportunity to submit testimony in support of House Bill 930, which would decouple Maryland’s tax code from recent federal expansions of 529 education savings plans as they related to private K-12 tuition, and would ensure […]
Testimony: ITEP’s Miles Trinidad Urges Maryland Lawmakers to Decouple from Increased SALT Cap
• By Miles Trinidad
This testimony was delivered to the Maryland House Ways and Means Committee on February 26, 2026 Chair, Vice Chair, and Members of the Committee, Thank you for the opportunity to submit testimony in support of House Bill 926, which would decouple Maryland from recent federal increases to the cap on state and local tax (SALT) deductions. My name is Miles Trinidad, […]
Testimony: ITEP’s Miles Trinidad Urges Maryland Lawmakers to Decouple from Bonus Depreciation and Business Interest Deductions
• By Miles Trinidad
This testimony was delivered to the Maryland House Ways and Means Committee on February 26, 2026 Chair, Vice Chair, and Members of the Committee, Thank you for the opportunity to submit testimony in support of House Bill 880, which would decouple Maryland from federal corporate tax changes on the expanded bonus depreciation and business interest deductions. My name is […]
Patriotic Millionaires: Trump Gives the Economy a “W.” We Give It a “K.”
• By ITEP Staff
According to President Trump, the state of America’s union is STRONG, the Golden Age is upon us, and “we’re winning so much that we really don’t know what to do about it.” All true…for multimillionaires like us. For the 86% of Americans who are worried about the price of groceries? Not so much. Read more.
Testimony: ITEP’s Miles Trinidad on the Need for Vermont to Adopt a Wealth Proceeds Tax
• By Miles Trinidad
ITEP Policy Analyst Miles Trinidad testified on the need for a Wealth Proceeds Tax in Vermont on February 27, 2026 at the Vermont Senate Committee on Finance. See the slide deck here
Center on Budget and Policy Priorities: Sound State Revenue Choices Essential to Counteract Harmful Policies and Build Forward
• By ITEP Staff
State and local policymakers nationwide are facing a one-two punch entering 2026. For one, last summer’s harmful Republican megabill paired enormous tax breaks for wealthy households and corporations with historically deep cuts that will take away people’s vital health care and food assistance, all while foisting considerable new costs and responsibilities onto states and localities. […]
Testimony: ITEP’s Miles Trinidad on Decoupling from the QSBS Exclusion Before the Maryland House Ways and Means Committee
• By Miles Trinidad
This testimony was delivered to the Maryland House Ways and Means Committee on February 26, 2026. Chair, Vice-Chair, and Members of the Committee, Thank you for the opportunity to provide testimony in support of House Bill 801. My name is Miles Trinidad, and I am an analyst at the Institute on Taxation and Economic Policy […]
Testimony: ITEP’s Marco Guzman Details a Package of Tax Bills for the Connecticut General Assembly Finance Committee
• By Marco Guzman
This testimony was delivered to the Connecticut General Assembly Finance Committee on February 26, 2026. My name is Marco Guzman, and I am a Senior Analyst at the Institute on Taxation and Economic Policy (ITEP). ITEP is a non-profit, non-partisan tax policy organization, conducting rigorous analyses of tax and economic proposals and providing data-driven recommendations […]
Cheniere Energy Gets $380 Million Gift from Trump’s Treasury Department
• By Matthew Gardner
Cheniere Energy's latest annual financial report shows the company reaped a cool $380 million in tax cuts from a single regulatory change made by the Trump administration last fall.
Testimony: ITEP’s Carl Davis on Federal/State Tax Conformity at Pair of Vermont Committee Hearings
• By Carl Davis
ITEP Research Director Carl Davis testified on the impact of the 2025 tax law on Vermont on January 15, 2026 at the Vermont House Ways & Means Committee and the Vermont Senate Committee on Finance. See the slide deck here Watch the videos here (House) and here (Senate) See all of our resources on conformity […]
Testimony: ITEP’s Sarah Austin Urges Washington House Finance Committee to Decouple from Venture Capital Tax Break
• By Sarah Austin
The prepared testimony below was delivered by ITEP Senior Analyst Sarah Austin to the Washington House Finance Committee on January 27, 2026. For more on the tax break in question, check out our October 2025 brief. Chair Berg, Vice Chair Street, and members of the House Finance Committee, My name is Sarah Austin, I’m a […]
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