Institute on Taxation and Economic Policy (ITEP)

New York

What Did 2025 State Tax Changes Mean for Racial and Economic Equity?

The results are a mixed bag, with some states enacting promising policies that will improve tax equity and others going in the opposite direction.

Trust Reform is Needed to Protect States, Especially in the Wake of IRS Enforcement Cuts

Trust use is widespread among the wealthiest households, with reports showing that roughly half of the nation’s wealthiest people rely on trusts for tax avoidance reasons

State Tax Watch 2026

February 2, 2026 • By ITEP Staff

State Tax Watch 2026

ITEP tracks tax discussions in legislatures across the country and uses our unique data capacity to analyze the revenue, distributional, and racial and ethnic impacts of many of these proposals. State Tax Watch offers the latest news and movement from each state.

State Rundown 1/28: State Tax Cutting Plans Face Scrutiny

As state legislative sessions ramp up across the country, property taxes are one of many issues dominating tax policy conversations in statehouses.

State Rundown 1/22: Cautious Tone Noticeable in Most Statehouses

Most states are adopting a very cautious approach so far this year as legislators begin their sessions and governors make their annual addresses, thanks to ongoing economic uncertainty and federal retrenchment.

State Rundown 1/14: New Year Brings New Resolutions for Funding Key Priorities

State governors are beginning to lay out their top priorities as legislatures reconvene in statehouses around the country.

State Rundown 1/7: New Year, New Opportunities for Progressive Revenue

As we kick off a new year, several states are facing revenue shortfalls. Some lawmakers are approaching the challenge with sustainable and equitable solutions.

New York Times: Trump Has a New Auto Loan Tax Break. Here’s Who Could Benefit.

December 31, 2025

Many Americans can take advantage of President Trump’s deduction on auto loan interest, but the tax break will provide only modest savings. Read more.

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‘Tax the Rich,’ Says … Mitt Romney?

December 22, 2025 • By Matthew Gardner

‘Tax the Rich,’ Says … Mitt Romney?

His 900-word New York Times op-ed identifies some sensible federal tax reform ideas that would create a fairer, more sustainable tax system.

State Rundown 12/17: Tax Policy ‘Naughty or Nice’ List Has Late Entrants

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

The New York Times: Businesses Are Cashing In on Trump’s Tax Cuts

December 12, 2025

“We are giving companies an awful lot of money to do something they were going to do anyway; that’s the issue with most tax incentives,” said Matt Gardner. Read more.

No, Scott Bessent: States Aren’t Taking Away Anyone’s Tax Cuts

It’s wildly inappropriate for a U.S. Treasury Secretary to lean on states to adopt or not adopt specific federal provisions in their own state tax codes.

Tax Haven Data Demonstrate Need for Global Minimum Tax Despite Opposition from Trump Administration

American corporations use accounting gimmicks to make profits appear to be earned in tax havens. This widespread problem could be fixed by Congress enacting legislation to implement a minimum tax on corporations that meets the standards of the global minimum tax that other countries have begun to implement.

State Rundown 12/10: ‘Tis the Season to Reclaim Lost Revenue

property tax debates are taking place throughout the nation.

State Rundown 11/24: States Say ‘No Thank You’ to Federal Tax Cuts Reducing State Revenue

Lawmakers in two more states have wisely said “no thank you” to federal tax cuts that would have flowed through to their state tax codes and undermined funding for their priorities

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Local Vacancy Taxes: A Tool but Not a Panacea

November 17, 2025 • By Rita Jefferson

Local Vacancy Taxes: A Tool but Not a Panacea

Vacancy taxes will not single-handedly solve problems in cities, but they are worth considering to address housing shortages, land use, and building thriving communities.

State Rundown 11/13: States Tackle Impending Deficits, Pennsylvania Secures an EITC

Revenue forecasts look increasingly grim as states anticipate shortfalls due to the slowing economy and impacts of the new federal tax law.

Trump Goes Outside the Law to Give Even More Tax Cuts to the Wealthy

Trump's Treasury is overstepping far beyond its constitutional role by giving unlegislated tax cuts to the wealthy.

The Guardian: How Could Zohran Mamdani Pay for His Bold Agenda for New York? We Broke it Down

November 10, 2025

Mamdani’s ideas are very popular and would solve basic problems. Democrats now hold large majorities in the legislature, and some see economic and political pathways to making the proposals reality. Read more.

USA Today: Would Mamdani’s ‘Millionaire Tax’ Chase the Rich out of New York City?

November 6, 2025

Higher taxes don’t generally prompt wealthy people to move, said Kamolika Das, local policy director at the Institute on Taxation and Economic Policy… Read more.

State and Local Policymakers Can Resist Austerity Even Amid Historic Federal Retreat

The progressivity of the federal tax code has been waning. State and local policymakers should respond by protecting their revenue bases, promoting equity, and safeguarding vulnerable communities from harmful budget cuts. 

In 2025, Voters Said Yes to Public Resources and Community Investments

Important tax measures were on the ballot this week, and the outcomes are clear: many voters support new state and local spending to support critical services in their communities.

Wall Street Journal: The Economics Behind Zohran Mamdani’s Biggest Plans

November 5, 2025

Zohran Mamdani coasted to victory in the New York City mayoral race with a platform focused on making the city more affordable. He has promised ambitious social programs like universal child care and more affordable housing, with plans to fund his agenda primarily through higher taxes on businesses and on New York City’s highest earners. Read […]

State Rundown 11/5: Voters Say “Yes!” to Public Investments

Despite being an off-year election, voters made a call for shared public investments at the polls.

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The Wealth Proceeds Tax: A Simple Way for States to Tax the Wealthy

October 30, 2025 • By Sarah Austin, Carl Davis

The Wealth Proceeds Tax: A Simple Way for States to Tax the Wealthy

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.