Maine

Taxing the rich is proven fiscal policy – it raises revenue for vital public services and makes tax codes fairer. But a part of the debate that rarely gets enough attention: taxing the rich is also one of the most effective tools available for advancing racial equity.

Sixteen states provide Child Tax Credits to reduce poverty, boost economic security, and invest in children. State lawmakers have several options to maximize the impact of Child Tax Credits.

In a year of cautious uncertainty around current and ongoing revenues, many state lawmakers strengthened their tax credits for families and children.

Below is a list of tax expenditure reports published in the states.

This year several states raised income tax rates on high-income people to fund crucial services and make progress toward remedying the regressive tilt of their tax codes.

We estimate that by 2032, QSBS will be costing states $1.1 billion a year, and since states must balance their budgets, that’s money they can’t use for public services.

From surcharges on the income of high-earners to higher taxes on second homes, here are recent steps states have taken to tax the rich.

A recap of Maine’s 2026 legislative session covers the state’s new millionaire tax, decoupling of last summer’s regressive federal tax provisions, and the expansion of the property tax fairness credit. Read more.  

States continue to debate whether and how to link their state tax codes to the 2025 federal tax law. This is not just a technical debate.