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Missouri Voters Reject Amendment 5 and a Damaging Tax Shift onto Working Families
August 4, 2026 • By Eli Byerly-Duke, Jon Whiten
Yesterday Missouri voters rejected Amendment 5, declining to give lawmakers a blank check to raise or expand sales taxes, something some lawmakers sought to enable enormous income tax cuts for the state’s wealthiest households.
Trump Says Exxon and Chevron Are Ripping Off Americans, But His Own Policies Are to Blame
August 4, 2026 • By Matthew Gardner
President Trump lashed out at ExxonMobil and Chevron for “making too much money." These companies are reporting enormous profits right now, partly the result of Trump’s war in Iran but also due to the corporate tax policies he's passed during his time in office.
Microsoft Reports a 2.44 Percent Federal Tax Rate on a Record $101 Billion in Profits
July 29, 2026 • By Matthew Gardner
Microsoft avoided federal income tax on almost all of its U.S. income for fiscal year 2026. The company’s 2.44 percent federal tax rate on over $100 billion of U.S. income is largely attributable to tax breaks that were either created or expanded by Republican tax cuts enacted at the behest of President Donald Trump in 2017 and 2025.
State Rundown 7/29: The Misguided, Miserly Missouri Amendment to Eliminate the Income Tax
July 29, 2026 • By ITEP Staff
Missouri voters are facing a major decision at the ballot box next week on Amendment 5, which would amend the state constitution to allow lawmakers to eliminate the individual income tax and expand the state’s sales tax on any good or service to make up for lost revenue.
Flying Under the Tax Radar: How Profitable Airlines Avoided Federal Income Taxes in 2025
July 27, 2026 • By Sarah Buttikofer, Spandan Marasini
Corporate tax disclosures reveal that five profitable airlines paid almost nothing in federal income tax last year. In 2025, the effective federal income tax rates of these airlines ranged from 1.07 percent to below zero.
The Campaign by Former Democratic Officials to Stop Taxes on the Wealthy Is Back
July 24, 2026 • By Steve Wamhoff
A former Democratic senator from Nebraska has joined Saving America’s Family Enterprises and taken up its cause of opposing wealth taxes.
Congressional Republicans Say D.C. Shouldn’t Be Allowed to Run Its Own Tax System
July 23, 2026 • By Matthew Gardner
This week a U.S. House of Representatives committee approved a bill that would effectively take away Washington, D.C.’s fiscal autonomy, requiring Congressional approval of any new D.C. laws that increase taxes or fees.
Localities Try Vacant Land Taxes, Mansion Taxes and Second Home Taxes, while States Stick to Same-old Tax-cut Strategies
July 21, 2026 • By Rita Jefferson
In 2026, cities, counties, and school districts must manage tax cuts coming from federal and state governments, the end of federal pandemic aid, rising costs, and a stagnant economy. This challenging environment is forcing municipalities of all types to ask how they can best fund core priorities and invest in communities in the long term.
Many states have repeatedly cut top personal and corporate income tax rates in recent years, sometimes while approving increased sales tax rates to push tax systems in a more regressive direction. Other states, however, have charted a very different course and have moved to increase taxes on higher income households to fund public services.
As many states enter a new fiscal year this month, it’s an ideal time to take a closer look at a major but often overlooked category of government spending: tax expenditures. To make these programs easier to explore and compare, ITEP has updated its state-by-state tax expenditure reports resource.
Crypto provides no clear benefit and instead harms society in several ways. Even if crypto was useful in some way that outweighed the harms it causes, there is no reason to make exceptions that treat it more generously than other types of assets or transactions.
New Legislation Would Require Big Multinationals to Tell Shareholders Where They’re Hiding Offshore Profits
July 16, 2026 • By Matthew Gardner
Sen. Chris Van Hollen introduced legislation requiring big multinational corporations to tell shareholders and the public what they’re already telling tax authorities behind closed doors: how much income they’re booking in specific offshore tax havens and how little tax they’re paying to these jurisdictions.
Twenty states have sales tax holidays in 2026. These sales tax holidays will cost states and localities nearly $600 million in lost revenue this year, and they're poorly targeted and too temporary to meaningfully change the regressive nature of a state’s tax system.
Missouri’s Amendment 5 Would Cut Taxes for the Rich and Raise Taxes on Seniors and the Middle Class
July 14, 2026 • By Eli Byerly-Duke
On August 4, Missouri voters will vote on whether to increase taxes on the middle class and seniors to fund tax cuts for the richest households in the state.
Trump Administration Says Shining Light on Corporate Tax Avoidance is ‘Very Dangerous’
July 14, 2026 • By Matthew Gardner
Administration officials appear far more concerned about the public knowing too much about how U.S. corporations shift their income into offshore tax havens.
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