Minnesota

Many states already recognize the potential of these credits to boost low- and moderate-income households. Other states should follow suit.

With a little over a week left, some states are solidifying their spots on the tax policy “naughty or nice” list.

The 2025 federal tax law risks making 529 plans more costly for states by increasing tax avoidance and allowing wealthy families to use these funds for private and religious K-12 schools.

Contact: Jon Whiten ([email protected]) Taxing the proceeds generated by wealth – such as capital gains, dividends, and passive business income – through a new Wealth Proceeds Tax is a simple way for states to raise billions in new revenue and improve the fairness of their tax systems, according to a new report by the Institute […]

Taxing the proceeds generated by wealth through a new Wealth Proceeds Tax is a simple way for states to raise billions in new revenue and improve the fairness of their tax systems.

Contact: Jon Whiten ([email protected]) Child Tax Credits have been the focus of increased lawmaker attention over the past few years, especially following the dramatic success of the 2021 federal CTC expansion in reducing child poverty and the subsequent resurgence of pre-pandemic child poverty levels. While 15 states now supplement the federal credit with their own […]

Local governments have a critical role to play in reducing child poverty. Local Child Tax Credits could provide large tax cuts to families at the bottom of the income scale, lessening the overall regressivity of state and local tax systems.

States should decouple from the federal Qualified Small Business Stock (QSBS) exemption.

Some states are trying to avoid revenue loss while others are welcoming it and doubling down.