Citations

“Congress often tinkers with the tax code from one year to the next, so state conformity debates happen all the time, says Carl Davis, research director at the Institute on Taxation and Economic Policy. “But they’re usually much more minor considerations.”

The Institute on Taxation and Economic Policy found the OBBBA “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 recent explosion of artificial intelligence (AI) and the construction of data centers threatens to swallow the US economy and transform society. 

Under H.R. 1, the federal tax package passed last year, the richest 1% of Arizonans are set to receive an average tax cut of nearly $80,000, according to the Institute on Taxation and Economic Policy. The lowest-income 20% of Arizonans will receive about $10. Read more.

The Institute on Taxation and Economic Policy (ITEP) found that at least 88 of the nation’s largest corporations paid zero federal corporate income tax in fiscal year 2025, despite reporting a combined $105 billion in US pretax income.

Since 2018, however, Idaho households have received $4.5 billion in state and federal income tax cuts—an amount that exceeds current state investments in health and education combined.

According to the Institute on Taxation and Economic Policy, “Millionaires are unlikely to move because of taxes. Instead, like most other people, millionaires primarily choose where to live based on community ties, schools, and jobs, and are not likely to uproot their lives based on a marginal tax difference.” Read more.

ITEP cited in a report that outlines wealth and income thresholds to policymakers, explaining why measuring both income and wealth is more difficult than might be expected. Read more.

ITEP cited in a review of Governor Kemp’s spending cut anskewed toward those already earning the highest incomes and away from meeting the needs of working and middle-income families. Read more.

Atlanta, Boston, Dallas, Denver, and Milwaukee all struggle with office vacancies and underperforming downtowns due to this rise in remote work. Even apart from remote work, cities are entering a new period of fiscal stress. They may need help from state and national leaders to thrive. Read more.