Michigan

“Congress often tinkers with the tax code from one year to the next, so state conformity debates happen all the time, says Carl Davis, research director at the Institute on Taxation and Economic Policy. “But they’re usually much more minor considerations.”

The Institute on Taxation and Economic Policy found the OBBBA “will increase taxes for most Americans, significantly expand income inequality, and add trillions to the national debt, while delivering substantial tax cuts to high-income households, corporations, and foreign investors.”

Below is a list of tax expenditure reports published in the states.

It's the first official week of summer, and while many of us are planning vacations, state lawmakers remain busy finalizing and debating tax proposals.

As we head into summer, many state legislatures are in the final stretches of their sessions. Rhode Island moved another step closer to joining the ranks of Washington, Maine, and Hawai’i in enacting a new high-income surcharge this year.

A veritable superbloom of tax and budget policies occurred over these last few weeks, including both flowers worth admiring and weeds worth fighting back.

The effects of last year’s federal tax and spending cuts continue to ripple through the states. With gas prices soaring due to the Iran war, some states are attempting to provide a bit of relief in the form of gas tax reductions and suspensions.

State legislative sessions are wrapping up, and final tax and budget packages are making their way to governors’ desks.

As states lawmakers continue to weigh their linkages to the federal tax code in light of the recent federal tax law, New Mexico provides a blueprint for limiting multinational corporate tax avoidance.