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[](https://itep.org/) - [About](https://itep.org/category/trump-tax-policies/) - [Mission & History](https://itep.org/about) - [Staff](https://itep.org/category/staff/) - [The ITEP Tax Microsimulation Model](https://itep.org/itep-tax-model/) - [Board of Directors](https://itep.org/board-directors/) - [Employment](https://itep.org/employment) - [Contact](https://itep.org/contact/) - [Tax Policy](https://itep.org/category/trump-tax-policies/) - [Federal Tax Policy](https://itep.org/federal-policy/) - [State Tax Policy](https://itep.org/state-policy/) - [Local Tax Policy](https://itep.org/local-policy/) - [Publications](https://itep.org/category/trump-tax-policies/) - [Blog](https://itep.org/category/blog/) - [Reports & Briefs](https://itep.org/publications/) - [Videos](https://itep.org/video/) - [Who Pays? 7th Edition](https://itep.org/whopays) - [Corporate Tax Avoidance](https://itep.org/corporate-tax-avoidance) - [Guide to State & Local Taxes](https://itep.org/tax-guide) - [Toolkits](https://itep.org/toolkits) - [Race Equity](https://itep.org/race-equity/) - [Maps](https://itep.org/maps/) - [Newsroom](https://itep.org/newsroom/) - [Donate](https://itep.org/donate/)  # Trump Tax Policies [blog](https://itep.org/category/blog) ### [Despite Any Refunds, You’re Probably Paying More Taxes Under Trump While Richest Pay Less](https://itep.org/despite-any-tax-refunds-youre-probably-paying-more-taxes-under-trump/) April 8, 2026 • By Steve Wamhoff  For a large majority of Americans, the tax increase resulting from Trump’s tariffs, along with the ending of the health care tax credits, more than offsets any tax cuts provided by OBBBA. The exception is the richest 5 percent of Americans, for whom the net result is a tax cut on average. [report](https://itep.org/category/reports) ### [Year One of Trump-Republican Tax Policy: The Consequences](https://itep.org/year-one-of-trump-republican-tax-policy-consequences/) April 6, 2026 • By Michael Ettlinger  President Trump has dramatically increased tariff taxes, enacted large tax cuts that primarily benefit the wealthy and corporations, dramatically curtailed IRS enforcement, and issued legally problematic regulations. [brief](https://itep.org/category/policy-briefs) ### [How Four Big Pro-Trump Tech Companies Avoided Taxes](https://itep.org/amazon-alphabet-meta-tesla-pro-trump-tech-companies-avoided-taxes/) March 17, 2026 • By Steve Wamhoff, Matthew Gardner  The leaders of Alphabet, Amazon, Meta, and Tesla publicly supported Trump to ensure the most favorable corporate tax policies possible. And Trump delivered for them, both in his 2017 tax bill and again in 2025 with the so-called One Big Beautiful Bill Act. [report](https://itep.org/category/reports) ### [The Child Tax Credit Leaves Out Millions of Children in 2026. There Are Better Alternatives.](https://itep.org/child-tax-credit-2026-obbba-trump-taxes/) March 10, 2026 • By Joe Hughes  The 2025 Trump tax law slightly increased the Child Tax Credit in a way that benefits virtually none of the children who most need help. [blog](https://itep.org/category/blog) ### [Cheniere Energy Gets \$380 Million Gift from Trump’s Treasury Department](https://itep.org/cheniere-energy-tax-cuts-trump-corporate-alternative-minimum-tax/) February 26, 2026 • By Matthew Gardner  Cheniere Energy's latest annual financial report shows the company reaped a cool \$380 million in tax cuts from a single regulatory change made by the Trump administration last fall. [blog](https://itep.org/category/blog) ### [Nvidia’s Tax Bill Shows It’s Not Just Zero-Tax Corporations That Hurt Our Budget Deficit the Most](https://itep.org/nvidia-tax-avoidance-trump-corporate-tax-breaks/) February 26, 2026 • By Matthew Gardner  Semiconductor giant Nvidia reported avoiding \$6.8 billion in federal income taxes last year. The company did this in a year when it reported greater earnings growth than almost any corporation in history, with U.S. pretax income coming in at an astonishing \$123 billion. [brief](https://itep.org/category/policy-briefs) ### [State-by-State Estimates of the First Year of Trump’s Tax Policies: All But the Richest Americans Face Higher Taxes](https://itep.org/trump-obbba-taxes-lower-for-the-rich-tariffs/) February 23, 2026 • By Steve Wamhoff, Michael Ettlinger  As a result of the tax policies approved by President Trump and the Republican majority in Congress, all but the richest Americans are paying higher taxes on average in 2026 than they did last year. [blog](https://itep.org/category/blog) ### [Despite a Supreme Court Victory for Middle-Class Americans, Trump’s Disastrous Tariff Policies Are Not Over](https://itep.org/despite-a-supreme-court-victory-for-middle-class-americans-trumps-disastrous-tariff-policies-are-not-over/) February 20, 2026 • By Steve Wamhoff  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. [blog](https://itep.org/category/blog) ### [Trump Administration Provides Biggest Illegal Tax Cuts Yet for Billion-Dollar Corporations](https://itep.org/trump-administration-provides-biggest-illegal-tax-cuts-yet-for-billlion-dollar-corporations/) February 20, 2026 • By Amy Hanauer  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. [blog](https://itep.org/category/blog) ### [2025: The Year in Tax Policy](https://itep.org/2025-the-year-in-tax-policy/) December 23, 2025 • By ITEP Staff  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. [brief](https://itep.org/category/policy-briefs) ### [Re-Examining 529 Plans: Stopping State Subsidies to Private Schools After New Trump Tax Law](https://itep.org/529-plan-private-school-subsidies-trump-tax-law/) November 20, 2025 • By Miles Trinidad, Nick Johnson  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. [brief](https://itep.org/category/policy-briefs) ### [IRS Enforcement Boost Was Supposed to Last 10 Years. Congress Killed It in Under Three.](https://itep.org/irs-funding-cuts-inflation-reduction-act-tax-avoidance/) September 16, 2025 • By Sarah C. G. Christopherson  The IRS was set to overhaul how it audits the ultra-rich. Now most of that funding is gone. [blog](https://itep.org/category/blog) ### [The Trump Megabill Hands the Rich a Gift — and Sends the Bill to Young Americans](https://itep.org/trump-megabill-rich-young-americans/) August 21, 2025 • By Angie Sumo  Trump's megabill directs most benefits to the wealthy, while leaving younger generations with higher taxes, more debt, and fewer opportunities. For Millennials and Gen Z, it means reduced public investment and an economy less likely to work in their favor. [blog](https://itep.org/category/blog) ### [Trump Administration’s English-Only IRS Would Undermine Public Trust and Boost Budget Deficits](https://itep.org/trump-english-irs-public-trust-budge-deficits/) August 19, 2025 • By Matthew Gardner  The Trump administration’s push to make English the official U.S. language threatens decades of progress in taxpayer services for non-English speakers, risking cuts to IRS multilingual support, harder tax filing, lower compliance, and an undermined agency mission. [report](https://itep.org/category/reports) ### [How Will the Trump Megabill Change Americans’ Taxes in 2026?](https://itep.org/how-will-trump-megabill-change-americans-taxes-in-2026/) July 22, 2025 • By Steve Wamhoff, Michael Ettlinger, Carl Davis, Jon Whiten  The megabill will raise taxes on the poorest 40 percent of Americans, barely cut them for the middle 20 percent, and cut them tremendously for the wealthiest Americans next year. [map](https://itep.org/category/maps) ### [How Much Would Every Family in Every State Get if the Megabill’s Tax Cuts Given to the Rich Had Instead Been Evenly Divided?](https://itep.org/map-family-state-megabills-tax-cuts-evenly-divided/) July 14, 2025 • By Michael Ettlinger  If instead of giving \$117 billion to the richest 1 percent, that money had been evenly divided among all Americans, we'd each get \$343 - or nearly \$1,400 for a family of four. [blog](https://itep.org/category/blog) ### [GOP Megabill Breaks America’s Promise to Future Generations](https://itep.org/gop-megabill-breaks-americas-promise-future-generations/) July 10, 2025 • By Amy Hanauer  This country’s biggest historical challenge has been delivering this progress to all Americans, but Republicans have cut it back for everyone, retreating from many 20th century achievements in ways that will slam doors, rather than opening them, for the next generation. [report](https://itep.org/category/reports) ### [There Were Far Cheaper and Fairer Options Than the Trump Megabill](https://itep.org/there-were-far-cheaper-and-fairer-options-than-the-trump-megabill/) July 8, 2025 • By Steve Wamhoff, Joe Hughes, Jessica Vela  Congress and the president could have spent less than half that much money on a tax bill that does more for working-class and middle-class households. [report](https://itep.org/category/reports) ### [Analysis of Tax Provisions in the Trump Megabill as Signed into Law: National and State Level Estimates](https://itep.org/tax-provisions-in-trump-megabill-national-and-state-level-estimates/) July 7, 2025 • By Steve Wamhoff, Carl Davis, Joe Hughes, Jessica Vela  President Trump has signed into law the tax and spending “megabill” that largely favors the richest taxpayers and provides working-class Americans with relatively small tax cuts that will in many cases be more than offset by Trump's tariffs. [blog](https://itep.org/category/blog) ### [Top 1% to Receive \$1 Trillion Tax Cut from Trump Megabill Over the Next Decade](https://itep.org/top-1-to-receive-1-trillion-tax-cut-from-trump-megabill-over-next-decade/) July 3, 2025 • By Carl Davis  The Trump megabill will give the top 1 percent tax cuts totaling \$1.02 trillion over the next decade. For comparison, the bill’s cuts to the Medicaid health care program will total \$930 billion over the same period. [blog](https://itep.org/category/blog) ### [The SALT Caucus, Fortunately, Comes Up Short](https://itep.org/salt-cap-senate-tax-changes-trump-megabill/) July 2, 2025 • By Michael Ettlinger  The endlessly debated cap on deductions for state and local taxes (SALT) has emerged in the GOP megabill largely unscathed—despite the efforts of Republican lawmakers from “blue” states. Those lawmakers are correct that the cap reduces the bill’s tax cuts for their wealthy constituents more than for those in other states. The megabill, however, is so loaded up with other provisions that result in a dramatic tax cut for the richest 1 percent in every state. [blog](https://itep.org/category/blog) ### [Megabill Takes Cap Off Unprecedented Private School Voucher Tax Credit, Potentially Raising Cost by Tens of Billions Relative to Earlier Version](https://itep.org/trump-megabill-expensive-private-school-vouchers/) July 2, 2025 • By Carl Davis  It is clear that this tax credit has the potential to come with an enormous cost if private school groups are successful in convincing their supporters to participate. In these times of very high debt and deficits, this is reason for all of us to be uneasy. [blog](https://itep.org/category/blog) ### [Trump Megabill Will Give \$117 Billion in Tax Cuts to the Top 1% in 2026. How Much In Your State?](https://itep.org/trump-megabill-billions-in-tax-cuts-top-1-percent-by-state/) June 30, 2025 • By Michael Ettlinger  The predominant feature of the tax and spending bill working its way through Congress is a massive tax cut for the richest 1 percent — a \$114 billion benefit to the wealthiest people in the country in 2026 alone. [blog](https://itep.org/category/blog) ### [How Much Do the Top 1% in Each State Get from the Trump Megabill?](https://itep.org/how-much-do-the-top-1-percent-in-each-state-get-from-the-senate-tax-bill/) June 30, 2025 • By Carl Davis  The Senate tax bill under debate right now would bring very large tax cuts to very high-income people. In total, the richest 1 percent would receive \$114 billion in tax cuts next year alone. That would amount to nearly \$61,000 for each of these affluent households. [report](https://itep.org/category/reports) ### [Analysis of Tax Provisions in the Senate Reconciliation Bill: National and State Level Estimates](https://itep.org/analysis-of-tax-provisions-in-senate-reconciliation-bill/) June 25, 2025 • By Carl Davis, Jessica Vela, Joe Hughes, Steve Wamhoff  Compared to its House counterpart, the Senate bill makes certain tax provisions more generous, including corporate tax breaks that it makes permanent rather than temporary. But the bottom line for both is the same. Both bills give more tax cuts to the richest 1 percent than to the entire bottom 60 percent of Americans, and both bills particularly favor high-income people living in more conservative states. ## Posts navigation [Older Items](https://itep.org/category/trump-tax-policies/page/2/) ITEP research is pivotal in explaining the effect of the 2017 Tax Cuts and Jobs Act and other Trump administration tax policy proposals at both the state and national levels, including how current law contributes to regressivity in the tax code and rising inequality.  #### Institute on Taxation and Economic Policy ITEP is a non-profit, non-partisan tax policy organization. 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 For a large majority of Americans, the tax increase resulting from Trump’s tariffs, along with the ending of the health care tax credits, more than offsets any tax cuts provided by OBBBA. The exception is the richest 5 percent of Americans, for whom the net result is a tax cut on average.  President Trump has dramatically increased tariff taxes, enacted large tax cuts that primarily benefit the wealthy and corporations, dramatically curtailed IRS enforcement, and issued legally problematic regulations.  The leaders of Alphabet, Amazon, Meta, and Tesla publicly supported Trump to ensure the most favorable corporate tax policies possible. And Trump delivered for them, both in his 2017 tax bill and again in 2025 with the so-called One Big Beautiful Bill Act.  The 2025 Trump tax law slightly increased the Child Tax Credit in a way that benefits virtually none of the children who most need help.  Cheniere Energy's latest annual financial report shows the company reaped a cool \$380 million in tax cuts from a single regulatory change made by the Trump administration last fall.  Semiconductor giant Nvidia reported avoiding \$6.8 billion in federal income taxes last year. The company did this in a year when it reported greater earnings growth than almost any corporation in history, with U.S. pretax income coming in at an astonishing \$123 billion.  As a result of the tax policies approved by President Trump and the Republican majority in Congress, all but the richest Americans are paying higher taxes on average in 2026 than they did last year.  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.  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.  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.  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 IRS was set to overhaul how it audits the ultra-rich. Now most of that funding is gone.  Trump's megabill directs most benefits to the wealthy, while leaving younger generations with higher taxes, more debt, and fewer opportunities. For Millennials and Gen Z, it means reduced public investment and an economy less likely to work in their favor.  The Trump administration’s push to make English the official U.S. language threatens decades of progress in taxpayer services for non-English speakers, risking cuts to IRS multilingual support, harder tax filing, lower compliance, and an undermined agency mission.  The megabill will raise taxes on the poorest 40 percent of Americans, barely cut them for the middle 20 percent, and cut them tremendously for the wealthiest Americans next year.  If instead of giving \$117 billion to the richest 1 percent, that money had been evenly divided among all Americans, we'd each get \$343 - or nearly \$1,400 for a family of four.  This country’s biggest historical challenge has been delivering this progress to all Americans, but Republicans have cut it back for everyone, retreating from many 20th century achievements in ways that will slam doors, rather than opening them, for the next generation.  Congress and the president could have spent less than half that much money on a tax bill that does more for working-class and middle-class households.  President Trump has signed into law the tax and spending “megabill” that largely favors the richest taxpayers and provides working-class Americans with relatively small tax cuts that will in many cases be more than offset by Trump's tariffs.  The Trump megabill will give the top 1 percent tax cuts totaling \$1.02 trillion over the next decade. For comparison, the bill’s cuts to the Medicaid health care program will total \$930 billion over the same period.  The endlessly debated cap on deductions for state and local taxes (SALT) has emerged in the GOP megabill largely unscathed—despite the efforts of Republican lawmakers from “blue” states. Those lawmakers are correct that the cap reduces the bill’s tax cuts for their wealthy constituents more than for those in other states. The megabill, however, is so loaded up with other provisions that result in a dramatic tax cut for the richest 1 percent in every state.  It is clear that this tax credit has the potential to come with an enormous cost if private school groups are successful in convincing their supporters to participate. In these times of very high debt and deficits, this is reason for all of us to be uneasy.  The predominant feature of the tax and spending bill working its way through Congress is a massive tax cut for the richest 1 percent — a \$114 billion benefit to the wealthiest people in the country in 2026 alone.  The Senate tax bill under debate right now would bring very large tax cuts to very high-income people. In total, the richest 1 percent would receive \$114 billion in tax cuts next year alone. That would amount to nearly \$61,000 for each of these affluent households.  Compared to its House counterpart, the Senate bill makes certain tax provisions more generous, including corporate tax breaks that it makes permanent rather than temporary. But the bottom line for both is the same. Both bills give more tax cuts to the richest 1 percent than to the entire bottom 60 percent of Americans, and both bills particularly favor high-income people living in more conservative states.