ITEP

New ITEP report surveys tax disclosures from 706 profitable corporations for 2025: current federal income taxes avg 10.4% of US income. So, under half the statutory rate. This is as clear a look as we'll ever get at how OBBBA cut corp taxes in '25, and the answer is: a lot. itep.org/corporate-ta...

Wealth inequality isn't inevitable. It's the result of policy choices, and Washington is still making it worse. As @salon.com reports, new @itep.org EP analysis finds Trump's policies have raised costs for everyone except the richest 1%.

America’s biggest corporations paid 10.4% in taxes last year on $1.88 trillion in profits. That’s the lowest effective corporate tax rate in over 40 YEARS OF DATA. Working Americans pay their full rate every paycheck. Corporate America pays half—or nothing at all.

NEW: U.S. corporations are paying the lowest tax rate seen in decades. 706 major corporations collectively paid a federal income tax rate of just 10.4%, less than half the statutory rate. 114 corporations paid zero. itep.org/corporate-ta...

U.S. CEOs doing a great job — at avoiding federal corporate income tax. New @itep.org stats: 706 top corporations paid just 10.4% of their $1.88 trillion in profits last year in tax. Current federal corporate tax rate: 21%. Comparable rate after WWII: 52%. myemail.constantcontact.com/Corporate-Am...

Americans are right to be outraged about corporations paying too little in taxes. Corporate tax revenue dropped by roughly $70 billion over the past year while corporate profits soared. Trump's 2025 tax cuts for the rich have fueled that. www.nytimes.com/2026/10/17/b...

The lower your income is, the worse off you are under Trump's policies. Our Federal Policy Director Steve Wamhoff explains, "...they’ve caused increased costs that more than offset those tax cuts by a lot for most people, except for the rich." www.usatoday.com/story/money/...

Are you in the richest 1%? If not, Trump is costing you.

OBBBA helped Big Tech companies write off their costs for equipment – much of which was likely used for AI and data centers. $27 billion in depreciation tax breaks went to 5 Big Tech companies alone last year. www.huffpost.com/entry/data-c...

Shoe maker Steve Madden received $92 million in tariff refunds. After noting that it was “pleased overall with consumer acceptance of the price increases,” the company says it will use those tariff refunds to “pay down debt.” itep.org/trump-tariff...

Executive Director of @itep.org, @amyhanauer.bsky.social, explains how state-level tax policy is critical for ensuring adequate funding for health care and education.

The Trump administration wants Americans to disclose their citizenship status to the IRS. Along with tax credit restrictions on noncitizens, this administration continues to try to reshape the tax code to target immigrant families. apnews.com/article/irs-...

White households are 91% of the wealthiest 1%. Taxing the rich isn't just good fiscal policy. It's one of the most powerful tools we have for advancing racial equity. Taxing the rich isn't just good policy. It's racial equity. ⬇️ itep.org/new-state-ta... @itep.org

Taxing the rich helps fund vital public services and makes tax codes fairer. It's also one of the most effective tools available for advancing racial equity. Four states this year passed new tax laws showing how this can be done. itep.org/new-state-ta...

Meta paid just 3.5% of its profits in federal corporate income taxes last year. Part of that is due to claiming the research tax credit to pay for the equipment it uses in data centers to power its AI activities. itep.org/metas-outlan...

Analysis from @itep.org shows that the rise in fuel prices caused by Trump’s war on Iran has cost the average American family $750 already—and could top $1,300 by the year’s end.

Good stuff from @kashhill.bsky.social on Meta's continued enthusiasm for living in the grey areas of the tax law. The company appear to be claiming the R&D credit for supplies purchased for use in its data center spending. Two numbers worth front-loading for this: $2.8 billion and 3.6%.

The Iran war is making you spend (a lot) more on gas.

The Trump administration says its new proposal is designed to keep undocumented immigrants from obtaining certain tax credits. But our new estimates find that nearly 9 in 10 of the affected children are U.S. citizens. itep.org/new-estimate...

California voters will weigh in on a one-time 5% wealth tax on the state's billionaires. Opponents of the plan continue to raise objections, many of which are tenuous and have already been addressed. itep.org/californias-...

Property tax cuts have led to inequity between wealthy Baby Boomers and everyone else. As our Research Director Carl Davis explains, "Your tax bill should be based on what you can afford to pay. It shouldn't be based on what year you happen to be born." www.businessinsider.com/generational...

Brinker International, parent corporation of Chili's, reports a surprisingly low 5% federal tax rate, on $579 M of income, in their just-released FY26 annual report. Brinker's tax rate is affected by how it treats its workers and its executives, in opposite ways. (1/x) www.sec.gov/ix?doc=/Arch...

Where do America's biggest cities get their tax revenue? While property taxes are the biggest source of revenue for over half of the 50 largest cities, income taxes are an important (but underutilized) source of progressive local revenue for several of them.

The Child Tax Credit and Earned Income Tax Credit cut child poverty rates by about 25% last year – less than the previous year. A CTC expansion in 2021 helped reduce child poverty rates by half. Congress can do more to improve these programs. itep.org/new-census-d...

The Trump administration is not publishing data on the gap in unpaid taxes. The most recent estimate of this tax gap was $700 billion in 2022. After severe IRS staff cuts and fewer audits on the wealthy, this gap has likely grown under Trump. www.nytimes.com/2026/09/16/b...

Big Tech companies are getting massive tax breaks for building AI infrastructure that they would have built anyway. As the world’s largest technology companies are already racing to spend on AI, they don’t need more tax breaks. itep.org/big-tech-is-...