Montana

This year several states raised income tax rates on high-income people to fund crucial services and make progress toward remedying the regressive tilt of their tax codes.

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.

Second home taxes make a lot of sense for communities struggling with housing costs for full-time residents. They can raise real revenues too, which can be used to support further affordable housing development.

From surcharges on the income of high-earners to higher taxes on second homes, here are recent steps states have taken to tax the rich.

Missouri lawmakers passed legislation that will have residents vote on a proposal at the ballot box. The ask: for them to pay more in sales taxes to offset cuts – and the possible elimination – of the state's individual income tax, which makes up nearly two-thirds of Missouri’s general fund.

This week, troubling revenue projections are making headlines, with many lawmakers scrambling to determine how the tax changes at the federal level, plus price hikes driven by national policy decisions, will impact their states.

The results are a mixed bag, with some states enacting promising policies that will improve tax equity and others going in the opposite direction.

As state legislative sessions ramp up across the country, property taxes are one of many issues dominating tax policy conversations in statehouses.

They should take steps to protect and boost their own revenues. And they should take a second look at their own tax cuts.