Institute on Taxation and Economic Policy (ITEP)

Trump Tax Policies

report  

Year One of Trump-Republican Tax Policy: The Consequences

April 6, 2026 • By Michael Ettlinger

Year One of Trump-Republican Tax Policy: The Consequences

President Trump has dramatically increased tariff taxes, enacted large tax cuts that primarily benefit the wealthy and corporations, dramatically curtailed IRS enforcement, and issued legally problematic regulations.

State-by-State Estimates of the First Year of Trump’s Tax Policies: All But the Richest Americans Face Higher Taxes

As a result of the tax policies approved by President Trump and the Republican majority in Congress, all but the richest Americans are paying higher taxes on average in 2026 than they did last year.