Recent Work by ITEP
Despite being an off-year election, voters made a call for shared public investments at the polls.
Twenty-three states have legalized the sale of cannabis for general adult use. Every state allowing legal sales applies an excise tax to cannabis based on the product’s quantity, its price, or both. Quantity taxes can be based on either overall product weight or the amount of THC sold. ITEP research indicates that taxes based on […]
Biden Tax Reforms Take a $16 Billion Bite Out of Trump’s Big Tax Giveaway to Meta
October 30, 2025 • By Matthew Gardner
Meta’s earnings setback is entirely attributable to an important tax reform championed by the Biden administration in 2022.
Oil and Gas Companies Are Paying Less Tax to the U.S. than to Foreign Governments
October 30, 2025 • By Matthew Gardner
Since 2017, these companies paid $135 billion in income taxes to foreign governments, but just $29 billion to the U.S.
The Wealth Proceeds Tax: A Simple Way for States to Tax the Wealthy
October 30, 2025 • By Sarah Austin, Carl Davis
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.
States across the nation are debating how best to respond to costly new federal tax cuts.
Why States Shouldn’t Go Along With OBBBA’s Corporate Tax Breaks: A Practical Guide
October 27, 2025 • By Nick Johnson, Michael Mazerov
States should immediately decouple from four costly corporate tax provisions in the new federal tax law.
The 5 Biggest State Tax Cuts for Millionaires this Year
October 16, 2025 • By Dylan Grundman O'Neill, Aidan Davis
Some states continue to hand out huge tax cuts to millionaires. The five largest tax cuts this year will cost states a total of $2.2 billion per year once fully implemented.
Well, That Was Fast: Trump Tax Law’s New Corporate Breaks are Already Worsening the Deficit
October 9, 2025 • By Matthew Gardner
Corporate income taxes for the fiscal year that ended in September are $77 billion lower than in the previous year, a 15 percent drop.
Many lawmakers who were vocal supporters of this bill will see direct personal benefits while most of their constituents benefit little or will be worse off.
ITEP in the News
CNN: Why Trump Is Speaking Like a Democrat About Obamacare
The Associated Press: FACT FOCUS: Trump Says Tariffs Can Eventually Replace Federal Income Taxes. Experts Disagree
Newsweek: Republican Governor to Propose Scrapping Income Tax
PBS/NPR Southwest Florida: Eliminating Property Taxes Would Make Florida’s ‘Worst in the U.S.’ Regressive System Even Worse
Washington Post: Corporations To Claim $16B From Retroactive GOP Tax Break, Federal Report Says
ITEP Work in Action
Kentucky Center for Economic Policy: Building a Kentucky Workers Can Afford
Action Center on Race & the Economy: Pay Us What You Owe Us: Concrete State Solutions to Re-Fund Our Communities
Institute for Policy Studies: FACT SHEET: Federal Policy Threatens Women and Children with Poverty
Georgia Budget and Policy Institute: Breaking the Bank: Eliminating the State Income Tax Harms Most Georgians and Increases the Cost of Living
Economic Policy Institute: Raising Taxes on the Ultrarich
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
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