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Tax expenditures deserve the same scrutiny as direct spending. Our updated state-by-state resource makes it easier to compare tax expenditure reports, identify what's being tracked, and see where transparency falls short. itep.org/state-tax-ex...

State Tax Expenditures Deserve a Closer LookAs many states enter a new fiscal year this month, it’s an ideal time to take a closer look at a major but often overlooked category of government spending: tax expenditures. To make these programs ea...itep.org

Only an extremely small number of Americans would be affected by a wealth tax on more than $50 million, let alone $1 billion. Yet we’re still seeing the same tiresome anti-tax arguments that this would somehow harm the middle class. itep.org/campaign-by-...

The Campaign by Former Democratic Officials to Stop Taxes on the Wealthy Is BackA former Democratic senator from Nebraska has joined Saving America’s Family Enterprises and taken up its cause of opposing wealth taxes.itep.org

The crypto industry does not need tax breaks. Crypto has caused more harm than good, and there is no reason to give it special tax breaks that aren't available for other assets. itep.org/congress-sho...

Congress Should Reject Proposed Tax Breaks for CryptoCrypto provides no clear benefit and instead harms society in several ways. Even if crypto was useful in some way that outweighed the harms it causes, there is no reason to make exceptions that treat ...itep.org

The Treasury Department has “substantially eroded the corporate alternative minimum tax ... and its primary effect has been to reduce or eliminate CAMT liability for many large corporations.” Meta and Qualcomm are among those saving billions from these changes. news.bloombergtax.com/daily-tax-re...

Weaker Minimum Book Tax Rules Save Meta, Qualcomm BillionsThe corporate book-income tax was supposed to get tough on big companies seen as not paying enough in taxes. Critics say regulatory moves have made it largely toothless.news.bloombergtax.com

As Microsoft continues to lay off thousands of workers, the company just reported a record $101 billion in US income, $18.7 billion in federal tax breaks, and a federal income tax rate of just 2.44%. itep.org/microsoft-ea...

NEW: Microsoft’s latest annual financial report shows the company achieved record profitability while avoiding federal income tax on almost all of its U.S. income for fiscal year 2026. Microsoft reported $101 billion in profits but paid a federal tax rate of just 2.44%. itep.org/microsoft-ea...

Microsoft Reports a 2.44 Percent Federal Tax Rate on a Record $101 Billion in ProfitsMicrosoft avoided federal income tax on almost all of its U.S. income for fiscal year 2026. The company’s 2.44 percent federal tax rate on over $100 billion of U.S. income is largely attributable to t...itep.org

"As states like Hawai’i and Washington follow suit, critics have again repeated prophecies about millionaire exodus, and again without any substantial evidence. Massachusetts proves them wrong." inequality.org/article/wher...

Where is Massachusetts’ Millionaire Exodus?Massachusetts proves that progressive taxes do not cause ultra-wealthy flight.inequality.org

Thanks to massive tax breaks, the nation’s largest airlines are paying little or nothing in federal income taxes despite earning billions in U.S. profits. Delta and United collectively reported $10.5 billion in profits in 2025 but paid $6 million in federal income tax. itep.org/delta-united...

Flying Under the Tax Radar: How Profitable Airlines Avoided Federal Income Taxes in 2025Corporate tax disclosures reveal that five profitable airlines paid almost nothing in federal income tax last year. In 2025, the effective federal income tax rates of these airlines ranged from 1.07 p...itep.org

This year, 4 states have raised income tax rates on the rich, and momentum continues to build for these measures. But that wasn’t the case in recent decades, as too many lawmakers were eager to lower taxes on high earners and raise them on everyday goods. www.businessinsider.com/state-tax-sh...

States want to tax the rich less. They're taxing your purchases more.Since 1990, states have opted to rely on sales taxes and slash income taxes, which can hit lower earners harder.www.businessinsider.com

New York City’s pied-à-terre tax is now in effect. Montana approved a second-home tax last year. Rhode Island recently created its “Taylor Swift tax.” Affordability concerns are encouraging lawmakers to adopt new taxes on the wealthiest residents. itep.org/local-proper...

Localities Try Vacant Land Taxes, Mansion Taxes and Second Home Taxes, while States Stick to Same-old Tax-cut StrategiesIn 2026, cities, counties, and school districts must manage tax cuts coming from federal and state governments, the end of federal pandemic aid, rising costs, and a stagnant economy. This challenging ...itep.org

Untargeted property tax cuts undermine budgets and have little effect on housing affordability, but a relentless push for these types of cuts continued this year. Fortunately, new taxes on the wealthiest residents also emerged in multiple states and municipalities. itep.org/local-proper...

Localities Try Vacant Land Taxes, Mansion Taxes and Second Home Taxes, while States Stick to Same-old Tax-cut StrategiesIn 2026, cities, counties, and school districts must manage tax cuts coming from federal and state governments, the end of federal pandemic aid, rising costs, and a stagnant economy. This challenging ...itep.org

Since 1990, state lawmakers have cut top personal income tax rates 210 times and top corporate tax rates 168 times. These repeated cuts have clearly tilted tax codes in favor of the rich and corporations in too many states. itep.org/the-changing...

The Changing Landscape of State Tax RatesMany states have repeatedly cut top personal and corporate income tax rates in recent years, sometimes while approving increased sales tax rates to push tax systems in a more regressive direction. Oth...itep.org

The public deserves a clear understanding of how corporations abuse foreign tax havens. A new proposal in Congress would make it much easier for Americans to see which corporations are boosting their record profits by shortchanging taxpayers. itep.org/new-legislat...

New Legislation Would Require Big Multinationals to Tell Shareholders Where They’re Hiding Offshore ProfitsSen. Chris Van Hollen introduced legislation requiring big multinational corporations to tell shareholders and the public what they’re already telling tax authorities behind closed doors: how much inc...itep.org

20 states will lose $600 million in revenue this year by offering sales tax holidays. The benefits are minimal while the downsides are significant. There are better solutions that provide focused, meaningful boosts for working families. itep.org/sales-tax-ho...

Ineffective Sales Tax Holidays Miss the MarkTwenty states have sales tax holidays in 2026. These sales tax holidays will cost states and localities nearly $600 million in lost revenue this year, and they're poorly targeted and too temporary to ...itep.org

Missouri voters will decide whether to eliminate the state's income tax for a higher sales tax. While middle-income households would pay an average of $535 more each year, the wealthiest 1% would get an average tax cut of nearly $40,000. itep.org/missouri-ame...

Missouri’s Amendment 5 Would Cut Taxes for the Rich and Raise Taxes on Seniors and the Middle ClassOn August 4, Missouri voters will vote on whether to increase taxes on the middle class and seniors to fund tax cuts for the richest households in the state.itep.org

Americans have now spent more than $61 billion in higher fuel prices due to the ongoing war in Iran. That’s about $460 per household. Track the impact: itep.org/iran-war-fue...

Iran War Fuel CostsThe Iran War has significantly raised energy prices. This website provides continually updated tabulations of the additional amounts Americans have paid in higher motor fuel costs due to the war. It a...itep.org

New EU rules requiring greater corporate tax transparency are "very dangerous," according to the Trump administration. They're worried the public will learn too much about the way U.S. corporations use offshore tax havens. itep.org/corporate-ta...

Trump Administration Says Shining Light on Corporate Tax Avoidance is ‘Very Dangerous’Administration officials appear far more concerned about the public knowing too much about how U.S. corporations shift their income into offshore tax havens.itep.org

$1 trillion in tax cuts for the richest 1% over the next decade. Enormous subsidies and tax breaks for huge, profitable corporations. It's clear who the biggest winners are under OBBBA. www.cbsnews.com/news/trump-o...

The One Big Beautiful Bill Act is 1 year old. Here are the winners and losers.A year after President Trump signed the sweeping tax and spending package, its effects on households, businesses and federal programs are increasingly evident.www.cbsnews.com

Microsoft’s latest disclosure shows the extent of the company’s offshore tax avoidance. Just 3% of the company’s employees in Ireland managed to generate 38% of worldwide profits. In Luxembourg, 34 Microsoft employees “earned” $283 million in profits. itep.org/microsoft-ta...

New EU Disclosure Requirements Are Helping Identify Corporate Tax AvoidersMicrosoft reports a huge share of its worldwide profit in low-tax Ireland and is achieving this despite having a very small share of its employees there. As other companies make similar disclosures be...itep.org

34 states now have their own Child Tax Credit or EITC. This year, Rhode Island became the 16th state with a Child Tax Credit. Several other states also expanded or strengthened their credits. These investments came from preserving or generating new revenue.