ITEP

Alphabet, Amazon, Meta, and Tesla collectively paid only a 4.9% federal income tax rate last year. How did we get here? Two rounds of tax changes from President Trump led to minuscule tax rates for these companies and many other profitable corporates. itep.org/amazon-alphabe…

Tax cuts pushed through by the Trump administration last year and in 2017 have made it possible for the fastest-growing companies in the world to pay record-low federal income tax rates. itep.org/trump-meta-tes…

Amazon and Meta, after receiving billions in tax breaks and paying miniscule tax rates last year, are undergoing more layoffs. These companies collectively reported $168 billion in U.S. profits last year and have a staggering $204 billion in cash on hand. finance.yahoo.com/news/elizabeth…

As we continue to track corporate disclosures for 2025, so far 234 companies have avoided $125 billion in federal income tax on $880 billion in profits. itep.org/corporate-tax-…

The CTC still needs bold reform to strengthen the economic security of low- and moderate-income families across the country. itep.org/child-tax-cred…

The income restrictions under the Child Tax Credit still favor wealthier families. While a small number of children are ineligible for the full credit because their families earn too much, far more children are ineligible because their families earn too little.

Perspective is helpful: Even with the proposed 9.9% millionaire tax in Washington state, the richest would continue to contribute a much lower share of their income than the bottom 95%.

This tax season, corporations are avoiding billions in taxes — paid for by the largest cuts to SNAP and Medicaid in history under the Republican Tax Law. See from @iteptweets how much billionaires are saving thanks to cuts to our health care and food assistance.itep.org/corporate-tax-…

Washington state is on its way to enacting a millionaires’ tax. The plan comes with significant boosts in public education and child care along with more revenue from the wealthiest households that have been paying the lowest tax rates in the state. itep.org/washington-mil…

The tax bill Trump signed last year gives $1 trillion in tax cuts to the richest 1% of households over the next decade. How do Senators Cruz and Scott plan to follow that up? With another $200 billion handout to the rich. washingtonpost.com/business/2026/…

The tiny Child Tax Credit boost in the One Big Beautiful Bill Act still leaves millions of families behind while disproportionately benefiting high-income households. There are better alternatives that would help the children who need it most. itep.org/child-tax-cred…

Over 150 members of Congress last week introduced a bill to bring back the IRS’s free tax filing program and make Direct File permanent. The Trump administration ended this program last year despite its popularity and initial success. itep.org/trump-administ…

OBBBA will provide $1 trillion in tax cuts for the richest 1% over a decade while cutting Medicaid by almost as much. Combined with Trump's tariffs, the average household in nearly all income groups will see a tax hike this year except the richest 5%. itep.org/trump-obbba-ta…

Just how much have Trump's tax cuts benefited huge corporations? Our Senior Fellow Matt Gardner says it's entirely possible that for 2025, S&P 500 corporations "will overall be paying something less than 10% of their income in corporate taxes." marketplace.org/story/2026/03/…

Mississippi was one of five states that provided the biggest tax cuts to millionaires in 2025. itep.org/biggest-state-…

Mississippi lawmakers say they want to make their tax code more competitive. Last year that meant giving enormous tax cuts to millionaires, and this year it’s apparently tax cuts for college athletes.

As wealth inequality grows, so does the demand to tax the very top. In 2022, we found that just a 2% wealth tax on billionaires would have raised $62 billion that year. Current tax policy is clearly falling short of its potential. itep.org/the-geographic…

Thanks to improved corporate transparency rules, we can get a better picture of offshore tax havens. Oil service giant Halliburton avoided $29 million in taxes by reporting $138 million of income in the Cayman Islands last year. itep.org/new-income-tax…

Trump’s Treasury helped a major energy corporation pay zero federal income tax in 2025 by aggressively undermining the tax code. Cheniere Energy now gets a $380 million refund from taxpayers. itep.org/cheniere-energ…