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Higher fuel and food prices are on track to cost the average household over $1,300 by the end of the year.
Meta is claiming the research tax credit – a tax break meant to encourage innovation and experimentation – to pay for the equipment it uses in data centers to power its AI activities. ITEP described how Meta paid just 3.5% of its profits in federal corporate income taxes in 2025.
Tallying Up the Impact of Florida’s Property Tax Ballot Measure on Local Communities
September 29, 2026 • By Neva Butkus
Florida voters will soon vote on Amendment 3, which would create a pathway for non-school property tax elimination in the state. If passed, the measure would cost local governments $13.7 billion in the first two years alone.
California’s Prop 40: Responses to Common Objections
September 28, 2026 • By Brian Galle, David Gamage, Darien Shankse
Proposition 40, California’s proposed billionaire tax, is a one-time 5 percent levy that addresses a significant one-time emergency, namely the cuts made to the healthcare system by the so-called “One Big Beautiful Bill Act.”
State Rundown 9/24: States Reckon with Tightening Fiscal Futures
September 24, 2026 • By ITEP Staff
States across the nation are reckoning with their tightening fiscal futures as inflation and economic woes continue to eat into their budgets.
Big Tech Is Raking in Enormous Tax Breaks for AI Development
September 17, 2026 • By Matthew Gardner
OBBBA’s expensing provision is becoming especially lucrative for the companies building out AI infrastructure right now. There is no evidence whatsoever that tax breaks are necessary to encourage their construction.
New Census Data Show Importance of Refundable Tax Credits and Need for Improvements
September 16, 2026 • By Joe Hughes
The Child Tax Credit actually moved fewer children out of poverty in 2025 than it did in 2024 prior to Congress passing the so-called "One Big Beautiful Bill Act" (OBBBA).
TurboTax maker Intuit reported nearly $6 billion in U.S. profits in 2025 and paid no federal income tax. Instead, the company received a refund, thanks in part to new tax breaks from OBBBA.
State Rundown 9/10: States Brace for (and in Some Cases Embrace) Ballots and Budgets
September 10, 2026 • By ITEP Staff
States across the country will consider a host of ballot measures that could reshape the fairness and adequacy of their states’ tax systems, while other states are receiving budget forecasts that could further shape upcoming policy debates.
This fall, voters across the country will consider a host of ballot measures that could reshape the fairness and adequacy of their states’ tax systems. Here’s some of what we’re following.
The Biggest Winners from Trump’s Tariff Refunds are Big Corporations
September 3, 2026 • By Matthew Gardner
The Trump administration has been forced to pay out over $100 billion from illegal tariffs, and the biggest winners from these tariff refunds have been big corporations.
State Action on Child Tax Credits and Earned Income Tax Credits Since 2021
August 27, 2026 • By Neva Butkus
Since 2021, there has been a flurry of new and expanded state Child Tax Credits and Earned Income Tax Credits. This continued momentum speaks to the power and popularity of these credits and the need to boost the financial security of families and children across the country.
With many state legislatures already adjourned, developments in tax policy have slowed.
Maryland Digital Advertising Ruling Shouldn’t Stop Other States from Considering Ad Taxes
August 26, 2026 • By Nick Johnson
Consumers are increasingly bombarded with advertisements based on our personal data. This explosion in targeted advertising is leading state policymakers to revisit the tax treatment of advertising, which has long been exempt from sales tax.
Relentless State Income Tax Cuts Add Up to Massive Giveaways for the Wealthy
August 26, 2026 • By Sarah Austin
Today's state income tax cutting is defined less by sweeping one-time reforms than by sustained campaigns to ratchet down income tax rates year after year. This approach enables lawmakers to enshrine significant long-term reductions into law, while obscuring the fiscal impact by spreading it across multiple state budgets and legislative cycles.
The Trump Administration Slashed Taxes for H&R Block and Raised Costs for Tax Filers
August 20, 2026 • By Joe Hughes
Tax-prep giant H&R Block paid no federal taxes on its U.S. income in 2025. It also made a public disclosure, required by the European Union, characterizing one-third of its global profits as earned in Ireland, a low-tax country where the company offers no tax services and has only 15 employees.
Five Things to Know About the Trump Administration’s New Effort to Deny Tax Credits to Lawfully Present Immigrants
August 19, 2026 • By Carl Davis
Today the Trump administration proposed new regulations seeking to drastically reduce the tax credits that certain immigrant tax filers can claim. The affected credits include the Earned Income Tax Credit (EITC), Additional Child Tax Credit, American Opportunity Tax Credit, and the Adoption Tax Credit.
Six Companies Reaped $83 Billion in Federal Tax Breaks in 2025
August 14, 2026 • By Sarah Buttikofer, Matthew Gardner
Six companies alone accounted for $83 billion of federal tax breaks disclosed by publicly traded U.S companies so far for 2025. Microsoft received a record high for single-year federal tax breaks for one publicly traded company, followed by Alphabet, Amazon, Meta, JPMorgan Chase, and Nvidia.
In a win for Missouri workers and families, voters overwhelmingly rejected a proposed amendment that would have allowed lawmakers to replace the state's income tax with increased or expanded sales taxes.
Child Tax Credits and Child and Dependent Care Credits: What’s the Difference?
August 13, 2026 • By Maddie Shirley
Three popular state tax credits support families with children: the Child Tax Credit (CTC, or child credit), the Child and Dependent Care Tax Credit (CDCTC, or dependent care credit), and the Earned Income Credit (EITC). While the EITC is intended to boost wages for low- and moderate-income workers and families, the CTC and CDCTC are […]
Trump Weighs Another Giveaway to the Wealthy With Capital Gains Indexing Ahead of Midterms
August 12, 2026 • By Jon Whiten
Trump is once again weighing a proposal to index capital gains taxes to inflation as part of a set of policy promises ahead of the midterm elections. It would amount to a massive new tax break for wealthy investors.
New Yorkers, Please Pay Your City Income Taxes: Why the Pied-à-Terre Tax Rollout Is Not Worth a Meltdown
August 7, 2026 • By Rita Jefferson
The news coverage of the second home tax has been disconnected from the real living conditions for the millions of New Yorkers who don’t own a second (or third, or fourth) home.
IRS Cuts Could Cruise on Autopilot; New Bill Aims to Restore Funding to Help Taxpayers and Fight Tax Cheats
August 6, 2026 • By Sarah C. G. Christopherson
This fall, Congress could allow billions of dollars in IRS funding to disappear on autopilot. However, the Stop CHEATERS Act would restore the multi-year mandatory funding rescinded from the IRA and account for recent cuts to the IRS’s base budget.
Missouri Voters Reject Amendment 5 and a Damaging Tax Shift onto Working Families
August 4, 2026 • By Eli Byerly-Duke, Jon Whiten
Yesterday Missouri voters rejected Amendment 5, declining to give lawmakers a blank check to raise or expand sales taxes, something some lawmakers sought to enable enormous income tax cuts for the state’s wealthiest households.
Trump Says Exxon and Chevron Are Ripping Off Americans, But His Own Policies Are to Blame
August 4, 2026 • By Matthew Gardner
President Trump lashed out at ExxonMobil and Chevron for “making too much money." These companies are reporting enormous profits right now, partly the result of Trump’s war in Iran but also due to the corporate tax policies he's passed during his time in office.
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