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Missouri lawmakers have enacted broad, expensive, and regressive tax cuts throughout the past year.
These tax cuts mainly benefit the wealthy and further constrain the state’s public services.
itep.org/missouri-bud...
These tax cuts mainly benefit the wealthy and further constrain the state’s public services.
itep.org/missouri-bud...
Show Me Where We’re Going: Missouri’s Fiscally Irresponsible Path Will Be Paid for by Everyday People
Missouri lawmakers have been pushing regressive and shortsighted tax policies that undermine everyday workers and sabotage the Show-Me State’s ability to raise revenue.
itep.org
January 9, 2026 at 4:39 PM
Missouri lawmakers have enacted broad, expensive, and regressive tax cuts throughout the past year.
These tax cuts mainly benefit the wealthy and further constrain the state’s public services.
itep.org/missouri-bud...
These tax cuts mainly benefit the wealthy and further constrain the state’s public services.
itep.org/missouri-bud...
Despite what Georgia lawmakers are trying to claim, eliminating income taxes hardly solves the problem of affordability.
It takes a major source of state revenue away from public services and mostly benefits the wealthy.
apnews.com/article/geor...
It takes a major source of state revenue away from public services and mostly benefits the wealthy.
apnews.com/article/geor...
Georgia Republicans move to scrap state income tax by 2032 despite concerns
Georgia is the latest state to consider eliminating its personal income tax, with Republican leaders in the Senate backing a proposal to phase it out by 2032.
apnews.com
January 8, 2026 at 5:01 PM
Despite what Georgia lawmakers are trying to claim, eliminating income taxes hardly solves the problem of affordability.
It takes a major source of state revenue away from public services and mostly benefits the wealthy.
apnews.com/article/geor...
It takes a major source of state revenue away from public services and mostly benefits the wealthy.
apnews.com/article/geor...
Reposted by ITEP
According to @goodjobsfirst.org, at least 10 states are already losing more than $100 million each in revenue per year from data center tax breaks.
That's money that could be going to education, infrastructure, or anything more useful than another data center. itep.org/states-are-o...
That's money that could be going to education, infrastructure, or anything more useful than another data center. itep.org/states-are-o...
States Are Opening a Pandora’s Box of Data Centers
State governments are rushing to offer billions of dollars in subsidies to data center construction, apparently without understanding their full costs.
itep.org
January 7, 2026 at 4:34 PM
According to @goodjobsfirst.org, at least 10 states are already losing more than $100 million each in revenue per year from data center tax breaks.
That's money that could be going to education, infrastructure, or anything more useful than another data center. itep.org/states-are-o...
That's money that could be going to education, infrastructure, or anything more useful than another data center. itep.org/states-are-o...
Tax credits for low-income workers are an effective, research-backed tool to reduce poverty.
In the same way states are building upon federal tax credits, localities should consider building on state tax credits.
itep.org/pennsylvania...
In the same way states are building upon federal tax credits, localities should consider building on state tax credits.
itep.org/pennsylvania...
Pennsylvania Just Gave Low-Income Workers a Tax Credit Boost. Now It’s Philadelphia’s Turn.
In the same way states are building upon federal tax credits, localities should consider building on state tax credits.
itep.org
January 7, 2026 at 4:01 PM
Tax credits for low-income workers are an effective, research-backed tool to reduce poverty.
In the same way states are building upon federal tax credits, localities should consider building on state tax credits.
itep.org/pennsylvania...
In the same way states are building upon federal tax credits, localities should consider building on state tax credits.
itep.org/pennsylvania...
A global deal to curb the use of offshore tax havens has caved to make an exemption for the U.S.
U.S multinational corporations can still use accounting gimmicks to make their profits appear in low- to no-tax countries.
apnews.com/article/tax-...
U.S multinational corporations can still use accounting gimmicks to make their profits appear in low- to no-tax countries.
apnews.com/article/tax-...
US-based multinational companies will be exempt from global tax deal
The Organization for Economic Cooperation and Development has finalized a deal exempting U.S. multinational corporations from paying more corporate taxes overseas.
apnews.com
January 6, 2026 at 4:22 PM
A global deal to curb the use of offshore tax havens has caved to make an exemption for the U.S.
U.S multinational corporations can still use accounting gimmicks to make their profits appear in low- to no-tax countries.
apnews.com/article/tax-...
U.S multinational corporations can still use accounting gimmicks to make their profits appear in low- to no-tax countries.
apnews.com/article/tax-...
Reposted by ITEP
NEW: In 2025, U.S. billionaire wealth surged to $8.1 trillion — an increase of over 20.8%.
The top 15 U.S. billionaires alone saw their wealth surge to $3.2 trillion, a whopping 33% increase over 2024.
IPS scholars @chuck77.bsky.social and @ocampomar.bsky.social:
The top 15 U.S. billionaires alone saw their wealth surge to $3.2 trillion, a whopping 33% increase over 2024.
IPS scholars @chuck77.bsky.social and @ocampomar.bsky.social:
Richest 15 U.S. centi-billionaires see wealth surge 33 percent to $3.2 trillion - Institute for Policy Studies
Richest 15 U.S. centi-billionaires see wealth surge 33 percent to $3.2 trillion
ips-dc.org
January 5, 2026 at 3:29 PM
NEW: In 2025, U.S. billionaire wealth surged to $8.1 trillion — an increase of over 20.8%.
The top 15 U.S. billionaires alone saw their wealth surge to $3.2 trillion, a whopping 33% increase over 2024.
IPS scholars @chuck77.bsky.social and @ocampomar.bsky.social:
The top 15 U.S. billionaires alone saw their wealth surge to $3.2 trillion, a whopping 33% increase over 2024.
IPS scholars @chuck77.bsky.social and @ocampomar.bsky.social:
The new tax law President Trump signed earlier this year will send the richest 1% of households about $1 trillion in tax cuts over the next decade.
For comparison, the bill’s cuts to Medicaid will total $930 billion over the same period. itep.org/2025-the-yea...
For comparison, the bill’s cuts to Medicaid will total $930 billion over the same period. itep.org/2025-the-yea...
December 31, 2025 at 6:17 PM
The new tax law President Trump signed earlier this year will send the richest 1% of households about $1 trillion in tax cuts over the next decade.
For comparison, the bill’s cuts to Medicaid will total $930 billion over the same period. itep.org/2025-the-yea...
For comparison, the bill’s cuts to Medicaid will total $930 billion over the same period. itep.org/2025-the-yea...
Earlier this year, Tesla reported $0 in federal income tax on $2.3 billion of U.S. income.
Over the past 3 years, Elon Musk’s company reported $10.8 billion of U.S. income and paid just $48 million in federal income tax. That’s a three-year federal tax rate of 0.4%. itep.org/2025-the-yea...
Over the past 3 years, Elon Musk’s company reported $10.8 billion of U.S. income and paid just $48 million in federal income tax. That’s a three-year federal tax rate of 0.4%. itep.org/2025-the-yea...
2025: The Year in Tax Policy
From Congressional discussions over the so-called
itep.org
December 29, 2025 at 5:17 PM
Earlier this year, Tesla reported $0 in federal income tax on $2.3 billion of U.S. income.
Over the past 3 years, Elon Musk’s company reported $10.8 billion of U.S. income and paid just $48 million in federal income tax. That’s a three-year federal tax rate of 0.4%. itep.org/2025-the-yea...
Over the past 3 years, Elon Musk’s company reported $10.8 billion of U.S. income and paid just $48 million in federal income tax. That’s a three-year federal tax rate of 0.4%. itep.org/2025-the-yea...
“If you want to say that this is about affordability and improving affordability of cars, then it makes it really hard to feel like you’ve done your job well if most of the market is out of reach of this deduction and not actually able to use it.” www.nytimes.com/2025/12/25/u...
Trump Has a New Auto Loan Tax Break. Here’s Who Could Benefit.
www.nytimes.com
December 28, 2025 at 3:33 PM
“If you want to say that this is about affordability and improving affordability of cars, then it makes it really hard to feel like you’ve done your job well if most of the market is out of reach of this deduction and not actually able to use it.” www.nytimes.com/2025/12/25/u...
A recent property tax proposal from Texas Gov. Greg Abbott seems inspired by none other than California's infamous Prop 13.
Among other consequences, this would end up being a big tax cut for the rich with limited benefits for everyone else.
itep.org/texas-proper...
Among other consequences, this would end up being a big tax cut for the rich with limited benefits for everyone else.
itep.org/texas-proper...
Texas Property Tax Plan Mimics California’s Damaging Prop 13
This proposal would disrupt the state’s housing market and jeopardize local revenues while doing very little to help workers and families struggling to pay their property tax bills – just as Prop 13 d...
itep.org
December 22, 2025 at 6:29 PM
A recent property tax proposal from Texas Gov. Greg Abbott seems inspired by none other than California's infamous Prop 13.
Among other consequences, this would end up being a big tax cut for the rich with limited benefits for everyone else.
itep.org/texas-proper...
Among other consequences, this would end up being a big tax cut for the rich with limited benefits for everyone else.
itep.org/texas-proper...
"We have reached a point where any mix of solutions to our nation’s economic problems is going to involve the wealthiest Americans contributing more."
Mitt Romney agrees with the majority of Americans that it's time to tax the rich. www.nytimes.com/2025/12/19/o...
Mitt Romney agrees with the majority of Americans that it's time to tax the rich. www.nytimes.com/2025/12/19/o...
Opinion | Mitt Romney: Tax the Rich, Like Me
www.nytimes.com
December 19, 2025 at 5:16 PM
"We have reached a point where any mix of solutions to our nation’s economic problems is going to involve the wealthiest Americans contributing more."
Mitt Romney agrees with the majority of Americans that it's time to tax the rich. www.nytimes.com/2025/12/19/o...
Mitt Romney agrees with the majority of Americans that it's time to tax the rich. www.nytimes.com/2025/12/19/o...
House Republicans have chosen to not extend health care tax credits that are expiring at the end of the year.
This is estimated to cause 4 million people, including many self-employed workers and small business owners, to lose coverage.
www.cbpp.org/press/statem...
This is estimated to cause 4 million people, including many self-employed workers and small business owners, to lose coverage.
www.cbpp.org/press/statem...
Congressional Republicans Fail to Help Millions Afford Health Care
Congressional Republicans could have followed through on their promises to help families afford the basics by extending the premium tax credit enhancements to help them enroll in affordable, comprehen...
www.cbpp.org
December 19, 2025 at 2:52 PM
House Republicans have chosen to not extend health care tax credits that are expiring at the end of the year.
This is estimated to cause 4 million people, including many self-employed workers and small business owners, to lose coverage.
www.cbpp.org/press/statem...
This is estimated to cause 4 million people, including many self-employed workers and small business owners, to lose coverage.
www.cbpp.org/press/statem...
Should corporations pay more in taxes? Yes.
The U.S needs a tax code that is more progressive and raises more revenue than the one we have now.
But why start with the way we tax corporations? Here are 10 reasons:
itep.org/why-the-us-s...
The U.S needs a tax code that is more progressive and raises more revenue than the one we have now.
But why start with the way we tax corporations? Here are 10 reasons:
itep.org/why-the-us-s...
10 Reasons Why the U.S. Should Reform Its Corporate Income Tax
The U.S. needs a tax code that is more progressive and that raises more revenue than the one we have…
itep.org
December 18, 2025 at 4:28 PM
Should corporations pay more in taxes? Yes.
The U.S needs a tax code that is more progressive and raises more revenue than the one we have now.
But why start with the way we tax corporations? Here are 10 reasons:
itep.org/why-the-us-s...
The U.S needs a tax code that is more progressive and raises more revenue than the one we have now.
But why start with the way we tax corporations? Here are 10 reasons:
itep.org/why-the-us-s...
More corporate tax cuts? Delaware says no thank you.
The state will save over $300 million in revenue by not mirroring a few of Trump's corporate tax cuts into their own state tax codes.
Even better, more states are considering this as well.
whyy.org/articles/del...
The state will save over $300 million in revenue by not mirroring a few of Trump's corporate tax cuts into their own state tax codes.
Even better, more states are considering this as well.
whyy.org/articles/del...
Delaware will save more than $300M after federal tax decoupling takes effect
Delaware’s corporate tax revenue was at risk due to federal tax provisions passed in the “one big, beautiful bill.”
whyy.org
December 17, 2025 at 5:16 PM
More corporate tax cuts? Delaware says no thank you.
The state will save over $300 million in revenue by not mirroring a few of Trump's corporate tax cuts into their own state tax codes.
Even better, more states are considering this as well.
whyy.org/articles/del...
The state will save over $300 million in revenue by not mirroring a few of Trump's corporate tax cuts into their own state tax codes.
Even better, more states are considering this as well.
whyy.org/articles/del...
Tariffs have been wrongly portrayed to the public as a costless alternative to taxes. You are paying for them.
Even corporate executives are now admitting to passing the costs of tariffs on to consumers by raising prices.
itep.org/president-tr...
Even corporate executives are now admitting to passing the costs of tariffs on to consumers by raising prices.
itep.org/president-tr...
President Trump Says His Tariffs Aren’t Paid by Americans. Corporations Are Indicating the Opposite.
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.
itep.org
December 16, 2025 at 6:14 PM
Tariffs have been wrongly portrayed to the public as a costless alternative to taxes. You are paying for them.
Even corporate executives are now admitting to passing the costs of tariffs on to consumers by raising prices.
itep.org/president-tr...
Even corporate executives are now admitting to passing the costs of tariffs on to consumers by raising prices.
itep.org/president-tr...
American corporations using offshore tax havens to dodge U.S. taxes continues to be a problem.
Instead of stopping corporate tax avoidance, the Trump administration is enabling it by attacking the global minimum tax.
itep.org/tax-havens-c...
Instead of stopping corporate tax avoidance, the Trump administration is enabling it by attacking the global minimum tax.
itep.org/tax-havens-c...
Tax Haven Data Demonstrate Need for Global Minimum Tax Despite Opposition from Trump Administration
American corporations use accounting gimmicks to make profits appear to be earned in tax havens. This widespread problem could be fixed by Congress enacting legislation to implement a minimum tax on c...
itep.org
December 15, 2025 at 4:35 PM
American corporations using offshore tax havens to dodge U.S. taxes continues to be a problem.
Instead of stopping corporate tax avoidance, the Trump administration is enabling it by attacking the global minimum tax.
itep.org/tax-havens-c...
Instead of stopping corporate tax avoidance, the Trump administration is enabling it by attacking the global minimum tax.
itep.org/tax-havens-c...
No state is taking away federal tax cuts, despite what Treasury Secretary Scott Bessent says.
Some states are choosing not to mirror recent federal changes into their own tax codes, which is a normal process.
Bessent’s claims are wildly misleading.
itep.org/no-scott-bes...
Some states are choosing not to mirror recent federal changes into their own tax codes, which is a normal process.
Bessent’s claims are wildly misleading.
itep.org/no-scott-bes...
No, Scott Bessent: States Aren’t Taking Away Anyone’s Tax Cuts
It’s wildly inappropriate for a U.S. Treasury Secretary to lean on states to adopt or not adopt specific federal provisions in their own state tax codes.
itep.org
December 12, 2025 at 5:12 PM
No state is taking away federal tax cuts, despite what Treasury Secretary Scott Bessent says.
Some states are choosing not to mirror recent federal changes into their own tax codes, which is a normal process.
Bessent’s claims are wildly misleading.
itep.org/no-scott-bes...
Some states are choosing not to mirror recent federal changes into their own tax codes, which is a normal process.
Bessent’s claims are wildly misleading.
itep.org/no-scott-bes...
No tax on tips or overtime picks winners and losers based on occupation.
It will also cost billions in revenue for state budgets that are already stretched thin.
Working families would be better served by tax reforms that broadly benefit them.
itep.org/tips-overtim...
It will also cost billions in revenue for state budgets that are already stretched thin.
Working families would be better served by tax reforms that broadly benefit them.
itep.org/tips-overtim...
Linking to Tipped and Overtime Income Deductions Would Worsen State Shortfalls, Do Little to Help Workers
State deductions for tips and overtime are not only ineffective at supporting working-class people, it will come at a substantial cost to state budgets.
itep.org
December 11, 2025 at 4:52 PM
No tax on tips or overtime picks winners and losers based on occupation.
It will also cost billions in revenue for state budgets that are already stretched thin.
Working families would be better served by tax reforms that broadly benefit them.
itep.org/tips-overtim...
It will also cost billions in revenue for state budgets that are already stretched thin.
Working families would be better served by tax reforms that broadly benefit them.
itep.org/tips-overtim...
Tax cuts aren’t free.
And states that cut taxes for the rich in recent years are witnessing the repercussions.
They don't have the revenue to fund the crucial programs that the Trump administration just slashed.
www.propublica.org/article/food...
And states that cut taxes for the rich in recent years are witnessing the repercussions.
They don't have the revenue to fund the crucial programs that the Trump administration just slashed.
www.propublica.org/article/food...
Wave of Tax Cuts Has Left Many States Vulnerable to Trump SNAP and Medicaid Crisis
President Donald Trump’s so-called One Big Beautiful Bill Act will shift billions in costs for SNAP and Medicaid to states. But with 26 having cut or eliminated state income taxes just since 2021, the...
www.propublica.org
December 10, 2025 at 5:59 PM
Tax cuts aren’t free.
And states that cut taxes for the rich in recent years are witnessing the repercussions.
They don't have the revenue to fund the crucial programs that the Trump administration just slashed.
www.propublica.org/article/food...
And states that cut taxes for the rich in recent years are witnessing the repercussions.
They don't have the revenue to fund the crucial programs that the Trump administration just slashed.
www.propublica.org/article/food...
FIFA demanded sales tax breaks on World Cup Tickets. That means millions of dollars in lost revenue for host cities.
Each city is also expected to shoulder between $100 to $200 million in costs related to infrastructure, security, and logistics. itep.org/fifa-2026-wo...
Each city is also expected to shoulder between $100 to $200 million in costs related to infrastructure, security, and logistics. itep.org/fifa-2026-wo...
Not-So-Free Kick: How the 2026 FIFA World Cup Will Cost Cities Millions
Preparations are underway for the 2026 FIFA World Cup. Sixteen cities across North America will host its matches, and tickets…
itep.org
December 9, 2025 at 4:09 PM
FIFA demanded sales tax breaks on World Cup Tickets. That means millions of dollars in lost revenue for host cities.
Each city is also expected to shoulder between $100 to $200 million in costs related to infrastructure, security, and logistics. itep.org/fifa-2026-wo...
Each city is also expected to shoulder between $100 to $200 million in costs related to infrastructure, security, and logistics. itep.org/fifa-2026-wo...
Given their unpopularity, it's not surprising Congressional Republicans don't want to talk about tariffs.
At a recent House Ways & Means hearing, they ignored questions about tariffs and instead focused on how they've helped the wealthy with corporate tax cuts.
itep.org/congressiona...
At a recent House Ways & Means hearing, they ignored questions about tariffs and instead focused on how they've helped the wealthy with corporate tax cuts.
itep.org/congressiona...
Congressional Republicans Ignore Tariffs and Instead Talk Up Their Corporate Tax Cuts
Instead of discussing President Trump's deeply unpopular tariff policies, House Republicans are making misleading and untrue claims about their tax cuts.
itep.org
December 5, 2025 at 4:56 PM
Given their unpopularity, it's not surprising Congressional Republicans don't want to talk about tariffs.
At a recent House Ways & Means hearing, they ignored questions about tariffs and instead focused on how they've helped the wealthy with corporate tax cuts.
itep.org/congressiona...
At a recent House Ways & Means hearing, they ignored questions about tariffs and instead focused on how they've helped the wealthy with corporate tax cuts.
itep.org/congressiona...
Trump wants to take tax policy back to the Gilded Age.
The problem is tariffs generate nowhere near the revenue needed to fund modern society.
You can’t pay for Social Security, Medicare, and all our other needs by replacing income tax with tariffs.
apnews.com/article/fact...
The problem is tariffs generate nowhere near the revenue needed to fund modern society.
You can’t pay for Social Security, Medicare, and all our other needs by replacing income tax with tariffs.
apnews.com/article/fact...
FACT FOCUS: Trump says tariffs can eventually replace federal income taxes. Experts disagree
President Donald Trump has long praised tariffs as key to increasing wealth in the United States, idealizing Gilded Age policies that preceded the implementation of a modern federal income tax.
apnews.com
December 4, 2025 at 5:55 PM
Trump wants to take tax policy back to the Gilded Age.
The problem is tariffs generate nowhere near the revenue needed to fund modern society.
You can’t pay for Social Security, Medicare, and all our other needs by replacing income tax with tariffs.
apnews.com/article/fact...
The problem is tariffs generate nowhere near the revenue needed to fund modern society.
You can’t pay for Social Security, Medicare, and all our other needs by replacing income tax with tariffs.
apnews.com/article/fact...
Here's another example of how Trump's tariffs raise prices for American consumers.
During their 4Q earnings call, John Deere corporate executives admitted that:
- Their tariffs hit will double next year
- They'll make it up with price increases.
During their 4Q earnings call, John Deere corporate executives admitted that:
- Their tariffs hit will double next year
- They'll make it up with price increases.
December 3, 2025 at 4:39 PM
Here's another example of how Trump's tariffs raise prices for American consumers.
During their 4Q earnings call, John Deere corporate executives admitted that:
- Their tariffs hit will double next year
- They'll make it up with price increases.
During their 4Q earnings call, John Deere corporate executives admitted that:
- Their tariffs hit will double next year
- They'll make it up with price increases.
Thanks to the new Trump tax law, corporations will get a windfall of $16 billion for investments they've already made.
Corporations making more than $1 billion claim more than 80% of this deduction. www.washingtonpost.com/business/202...
Corporations making more than $1 billion claim more than 80% of this deduction. www.washingtonpost.com/business/202...
Corporations to claim $16B from retroactive GOP tax break, federal report says
The Republican tax law's bonus depreciation provision is expected to cost $362.7 billion over the next ten years, with corporations claiming $16 billion in new tax breaks this year.
www.washingtonpost.com
December 2, 2025 at 4:26 PM
Thanks to the new Trump tax law, corporations will get a windfall of $16 billion for investments they've already made.
Corporations making more than $1 billion claim more than 80% of this deduction. www.washingtonpost.com/business/202...
Corporations making more than $1 billion claim more than 80% of this deduction. www.washingtonpost.com/business/202...