Recent Work by ITEP
States Should Be Doing More About Corporate Tax Avoidance. New Mexico’s Tax Conformity Law Shows How.
March 17, 2026 • By Carl Davis
On top of declining to fold large federal business tax cuts into state law, New Mexico also took the monumental step of hardening the state’s corporate tax base against offshore profit shifting.
State Rundown 3/12: Washington Lawmakers Pass Millionaires’ Tax, Expand Working Families Tax Credit
March 12, 2026 • By ITEP Staff
Washington is on its way to making history after the legislature approved the “millionaires’ tax,” a 9.9 percent tax on income over $1 million. The bill, which is expected to raise more than $3 billion a year, making significant investments in public education and childcare, will also expand the Working Families Tax Credit – the […]
Sen. Chris Van Hollen has recently introduced the Working Americans’ Tax Cut Act, which offers a generous middle-class tax cut paid for with a new tax on millionaires.
Washington Millionaires’ Tax, Expanded Working Families Tax Credit Make Tax Code Fairer
March 12, 2026 • By Marco Guzman, Dylan Grundman O'Neill
The Washington legislature has approved a new "millionaires' tax," a 9.9 percent tax on income over $1 million. The bill, which makes significant investments in public education and child care, will also expand the Working Families Tax Credit – the state’s EITC – to reach an additional 460,000 households.
The Child Tax Credit Leaves Out Millions of Children in 2026. There Are Better Alternatives.
March 10, 2026 • By Joe Hughes
The 2025 Trump tax law slightly increased the Child Tax Credit in a way that benefits virtually none of the children who most need help.
Governor Should Put New Mexico’s Tax Interests First
March 6, 2026 • By Amy Hanauer, Amber Wallin
By decoupling from three misguided federal corporate income tax cuts under the One Big Beautiful Bill, plus taking steps to curb unfair corporate tax avoidance, SB 151 would raise and safeguard more than $120 million annually.
As many state legislative sessions near or cross the halfway point, lawmakers are facing tough choices.
New Income Tax Disclosure Rules Mean Halliburton Can No Longer Conceal Its Offshore Tax Avoidance
March 2, 2026 • By Matthew Gardner
The company’s latest annual report throws the doors wide open once again on Halliburton’s penchant for offshoring its profits to tax havens, thanks to terrific new disclosure rules introduced by an obscure but vital agency, the Financial Accounting Standards Board (FASB).
Cheniere Energy Gets $380 Million Gift from Trump’s Treasury Department
February 26, 2026 • By Matthew Gardner
Cheniere Energy's latest annual financial report shows the company reaped a cool $380 million in tax cuts from a single regulatory change made by the Trump administration last fall.
Nvidia’s Tax Bill Shows It’s Not Just Zero-Tax Corporations That Hurt Our Budget Deficit the Most
February 26, 2026 • By Matthew Gardner
Semiconductor giant Nvidia reported avoiding $6.8 billion in federal income taxes last year. The company did this in a year when it reported greater earnings growth than almost any corporation in history, with U.S. pretax income coming in at an astonishing $123 billion.
ITEP in the News
The American Prospect: Live Tax-Free and Die
NPR: She Paid Into Medicare for Years. Trump’s Immigration Policy Will End Her Coverage
The Guardian: Billionaire Fortunes Have Reached All-Time Highs Under Trump. So Has the Movement To Tax Them
The Guardian: Washington State’s ‘Historic’ Millionaire Tax Takes Aim at Super-Rich – Will It Succeed?
Video: ITEP's Amy Hanauer Discusses How to Make the Federal Tax Code Fairer on WHYY
ITEP Work in Action
Every Texan: Two Property Tax Plans, One Fiscal Reality
FACT Coalition: Take the Money and Run – Amidst Oil Price Windfalls, U.S. Oil Majors Continue to Pay Less Tax at Home than Abroad
Brookings: The Caregiving Crisis and the 2026 Vote
Gov. Evers Vetoes Bill Requiring Wisconsin to Opt Into Nationwide Expansion of Private Voucher Schools
Oxfam: The Case for Fairly Taxing the Rich in New York
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