Blog - OBBBA
8 posts
Despite Any Refunds, You’re Probably Paying More Taxes Under Trump While Richest Pay Less
April 8, 2026 • By Steve Wamhoff
For a large majority of Americans, the tax increase resulting from Trump’s tariffs, along with the ending of the health care tax credits, more than offsets any tax cuts provided by OBBBA. The exception is the richest 5 percent of Americans, for whom the net result is a tax cut on average.
Nvidia’s Tax Bill Shows It’s Not Just Zero-Tax Corporations That Hurt Our Budget Deficit the Most
February 26, 2026 • By Matthew Gardner
Semiconductor giant Nvidia reported avoiding $6.8 billion in federal income taxes last year. The company did this in a year when it reported greater earnings growth than almost any corporation in history, with U.S. pretax income coming in at an astonishing $123 billion.
Palantir Pays Zero Federal Income Tax Despite Explosive Growth, Largely Due to Trump Tax Law
February 17, 2026 • By Matthew Gardner
Palantir reported $1.5 billion of U.S. income but paid exactly zero federal income tax in 2025. Despite explosive growth, tax breaks from the Trump tax law helped Palantir avoid paying even a dime of federal income tax on its earnings.
From Congressional discussions over the so-called "One Big Beautiful Bill Act" to debates on property taxes, ITEP kept busy this year analyzing tax proposals and showing Americans across the country how tax decisions affect them.
Well, That Was Fast: Trump Tax Law’s New Corporate Breaks are Already Worsening the Deficit
October 9, 2025 • By ITEP Staff
Corporate income taxes for the fiscal year that ended in September are $77 billion lower than in the previous year, a 15 percent drop.
The Trump Megabill Hands the Rich a Gift — and Sends the Bill to Young Americans
August 21, 2025 • By Angie Sumo
Trump's megabill directs most benefits to the wealthy, while leaving younger generations with higher taxes, more debt, and fewer opportunities. For Millennials and Gen Z, it means reduced public investment and an economy less likely to work in their favor.
SALT in the Wound: New Tax Law’s Limit on State Tax Deductions Exempts Some of the Very Wealthiest
August 21, 2025 • By ITEP Staff
The new tax law enacted last month found a temporary compromise on the level of the cap, boosting it to $40,000 through 2029, but failed to fix a loophole that allows some rich taxpayers with good accountants to completely avoid the cap
Trump’s Tax Law Clobbers State Budgets. Now’s the Time to Prepare.
August 13, 2025 • By ITEP Staff
The Trump megabill hands the richest 1% a trillion-dollar windfall while gutting funding for health care, education, and disaster relief — leaving communities to pick up the pieces. State and local leaders must step up, tax the wealthiest fairly, and safeguard the essentials that keep America healthy, educated, and safe.
Blog Categories
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
Subscribe to ITEP Emails
Tax research and policy news in your inbox.
Promote Fair Tax Policy
Your gift to ITEP promotes tax justice. With your help, we do research that supports taxing millionaires and billionaires, taxing big corporations and raising revenue for the things our people, our communities and our planet need.
Together, we can create a country with more economic justice, more racial justice, more climate justice… and more tax justice.