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blog
March 5, 2025
Trump’s Address to Congress Obscures His Actual Tax Agenda
In last night’s address to Congress, President Trump spent more time insulting Americans, lying, and bragging than he did talking about taxes. But regardless of… -
blog
March 3, 2025
A Well Targeted Federal Renter Credit Could Help Reduce Wealth Gaps
While lawmakers often speak about income inequality, less attention is paid to wealth inequality. Wealth is distributed even more unequally than income in the U.S. in ways that reinforce racial divides, leave some households with too little to handle unexpected expenses, and enable some households to pass down enormous intergenerational wealth. A renter tax credit is one tool lawmakers can use to reduce wealth inequalities both within racial and ethnic groups and between these groups. As we show in our new analysis, Black and Hispanic households are more likely to be renters and hold less wealth than white households.
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report
March 3, 2025
High-Rent, Low-Wealth: Addressing the Racial Wealth Gap through a Federal Renter Credit
While the federal tax code has some policies focused on raising income of low earners, it contains fewer provisions designed specifically to address wealth inequality. A renter tax credit offers a simple, administratively practical means of reaching low-wealth populations through the federal tax code without requiring a comprehensive measurement of every household’s wealth.
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report
March 1, 2025
State-by-State Tax Expenditure Reports
Below is a list of tax expenditure reports published in the states.
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blog
February 26, 2025
Mississippi Considers Deep Tax Cuts Amidst Budget and Economic Uncertainty
At a time when states across the country are forecasting deficits or anticipating slowing revenue growth, Mississippi lawmakers are debating deeply regressive and expensive tax cuts that would overwhelmingly benefit their state’s richest residents.
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blog
February 26, 2025
State Rundown 2/26: House Budget Plan Could Further Strain State Budgets
States would be wise to keep a close eye on happenings in Washington, D.C. Republicans in the House of Representatives recently passed their budget resolution, which could spell trouble for state budgets. The plan tees up major cuts to Medicaid, SNAP, and college tuition assistance—all likely to allow for tax cuts that will overwhelmingly benefit the wealthy. If approved, trillions of dollars would be cut from programs supported by federal dollars and states and localities could bear the brunt of those shifting costs. Many states are already facing delicate fiscal outlooks and those considering cutting taxes further should seriously reconsider. The governor of Idaho, Brad Little, has already acknowledged the effect federal cuts could have on the Gem State when discussing the gap between his and state Republicans’ tax plans.
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blog
February 26, 2025
House Budget Resolution Tees Up Damaging Trump Tax Agenda
The budget resolution passed by House Republicans will enrich the richest, blow up the deficit, and decimate vital public services. The budget resolution allows Congress to pass reconciliation legislation with $4.5 trillion in tax cuts that would mostly flow to the wealthiest families in the country. Congressional Republicans have no way to pay for the massive tax cuts promised by President Trump during his campaign other than to dismantle fundamental parts of the government and increase the federal budget deficit.
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blog
February 26, 2025
Learn from Prop 13 History to Avoid Repeating Past Mistakes
Worries about housing costs and property tax bills are leading people to check the history books for solutions, but there’s a danger that they’ll repeat past mistakes. If anti-tax lawmakers carelessly weaken property taxes as they did in the 1970s, as they did with California’s Proposition 13, they will undercut public finances, making municipalities, school districts, and other special districts worse off.
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map
February 21, 2025
Revenue Effect of Mandatory Worldwide Combined Reporting by State
Universal adoption of mandatory worldwide combined reporting (WWCR) in states with corporate income taxes would boost state tax revenue by $18.7 billion per year. The… -
map
February 21, 2025
Corporate Income Tax Filing Methods: States with Water's Edge or Worldwide Combined Reporting
The purpose of state corporate income taxes is to tax the profit, or net income, an incorporated business earns in each state. Ascertaining the state…
