Trump-GOP Tax Law

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, reasoning that the power to impose tariffs, like the power to impose other types of taxes, is granted to Congress under the Constitution and not to the President acting alone.

The company paid zero federal income tax in 2025 despite reporting $145 million of U.S. profits.

The Treasury Department is unilaterally cutting corporate taxes with regulations that ignore the statute they claim to implement, disregarding the separation of powers between the branches of government that has defined how America works for more than two centuries.

Palantir reported $1.5 billion of U.S. income but paid exactly zero federal income tax in 2025. Despite explosive growth, tax breaks from the Trump tax law helped Palantir avoid paying even a dime of federal income tax on its earnings.

This unilateral corporate tax cut from the Trump administration will cost $10 billion over a decade unless it is reversed.

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

Four of the corporations whose CEOs flanked President Trump at his 2025 inauguration ceremony have now disclosed that they collectively received $51 billion in federal tax breaks in 2025, much of that likely from the One Big Beautiful Bill Act (OBBBA).

The company paid an effective federal income tax rate of just over 3.5% in 2025, the lowest it has recorded since the company went public as Facebook in 2012.

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

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.