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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).
Testimony: ITEP’s Miles Trinidad on the Need for Vermont to Adopt a Wealth Proceeds Tax
February 28, 2026 • By Miles Trinidad
ITEP Policy Analyst Miles Trinidad testified on the need for a Wealth Proceeds Tax in Vermont on February 27, 2026 at the Vermont Senate Committee on Finance. See the slide deck here
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.
National Sausage Month isn’t until October, but now is the time of year when state lawmakers are really diving into their sausage-making processes, as separate legislative houses and oftentimes political parties send competing bills, budgets, and visions back and forth to grind out their differences.
Pioneer Institute Criticizes ITEP For Not Writing the Paper They Would Have Written
February 25, 2026 • By Eli Byerly-Duke
Voters, lawmakers, researchers, and advocates frequently disagree about ideal tax policy. But the facts here speak for themselves.
Yum! Brands’ Recipe for Tax Avoidance: Trump Tax Cuts with a Dash of Malta
February 24, 2026 • By Matthew Gardner
the fast-food multinational that owns KFC, Taco Bell, and Pizza Hut reported this week that it made $1 billion of pretax profits in the U.S. last year—and didn’t pay a dime of federal income taxes on those profits.
State-by-State Estimates of the First Year of Trump’s Tax Policies: All But the Richest Americans Face Higher Taxes
February 23, 2026 • By Steve Wamhoff, Michael Ettlinger
As a result of the tax policies approved by President Trump and the Republican majority in Congress, all but the richest Americans are paying higher taxes on average in 2026 than they did last year.
Despite a Supreme Court Victory for Middle-Class Americans, Trump’s Disastrous Tariff Policies Are Not Over
February 20, 2026 • By Steve Wamhoff
Today the Supreme Court made the right decision in striking down most of the tariffs President Trump has put into motion during his second term.
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