Trump-GOP Tax Law

Her timely book, The Second Estate: How the Tax Code Made an American Aristocracy, walks readers through federal tax policy history and the modern-day legal maneuvers the wealthy use to pay little to no taxes

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

2025 saw an intensification of state and local tax fights across the country, as well as growing experimentation with local-option taxes, levies, fees, and tourism taxes aimed at keeping budgets afloat while also navigating political constraints imposed by state legislatures.

While this guidance is sorely needed to clean up the mess created by a hasty Congress, these notices stand in sharp contrast to the deregulatory, anti-tax approach that the Treasury Department has taken.

From Congressional discussions over the so-called "One Big Beautiful Bill Act" to debates on property taxes, ITEP kept busy this year analyzing tax proposals and showing Americans across the country how tax decisions affect them.

His 900-word New York Times op-ed identifies some sensible federal tax reform ideas that would create a fairer, more sustainable tax system.

The U.S. needs a tax code that is more progressive and that raises more revenue than the one we have now. An important way to achieve this is to reform the taxation of business profits. These four key policy reforms would greatly strengthen the corporate tax system: Eliminating or restricting special breaks and loopholes that […]

Corporations have publicly revealed that they are passing the cost of tariffs on to Americans—the opposite of what the executive branch has said is happening.

An unknown number of workers who previously were assumed to be ineligible for the tax break may nonetheless claim it.

The 2025 federal tax law risks making 529 plans more costly for states by increasing tax avoidance and allowing wealthy families to use these funds for private and religious K-12 schools.

The Opportunity Zones program benefits wealthy investors more than it benefits disadvantaged communities.

The move was expected, given heavy lobbying from tax prep companies like Intuit and H&R Block to put a halt to the IRS’s popular Direct File program.

Meta’s earnings setback is entirely attributable to an important tax reform championed by the Biden administration in 2022.

States should immediately decouple from four costly corporate tax provisions in the new federal tax law.

Corporate income taxes for the fiscal year that ended in September are $77 billion lower than in the previous year, a 15 percent drop.

The IRS's capacity to prevent big multinational corporations from avoiding income taxes is facing a generational crisis.

A drafting error in the 2017 tax law will cost U.S. taxpayers over $1 billion in unintended tax cuts for big multinationals.

The megabill will raise taxes on the poorest 40 percent of Americans, barely cut them for the middle 20 percent, and cut them tremendously for the wealthiest Americans next year.

This country’s biggest historical challenge has been delivering this progress to all Americans, but Republicans have cut it back for everyone, retreating from many 20th century achievements in ways that will slam doors, rather than opening them, for the next generation.

$117 billion is a big number, so we thought it could use a little context.

Congress and the president could have spent less than half that much money on a tax bill that does more for working-class and middle-class households.

President Trump has signed into law the tax and spending “megabill” that largely favors the richest taxpayers and provides working-class Americans with relatively small tax cuts that will in many cases be more than offset by Trump's tariffs.

The Trump megabill will give the top 1 percent tax cuts totaling $1.02 trillion over the next decade. For comparison, the bill’s cuts to the Medicaid health care program will total $930 billion over the same period.

The predominant feature of the tax and spending bill working its way through Congress is a massive tax cut for the richest 1 percent — a $114 billion benefit to the wealthiest people in the country in 2026 alone.

The Senate tax bill under debate right now would bring very large tax cuts to very high-income people. In total, the richest 1 percent would receive $114 billion in tax cuts next year alone. That would amount to nearly $61,000 for each of these affluent households.