Republican Split on Reconciliation 2.0: Earlier this month, President Trump ruled out a second budget reconciliation bill after last year’s One Big Beautiful Bill Act (OBBBA, P.L. 119-21). Some congressional Republicans like Rep. August Pfluger (R-TX) and Sen. John Kennedy (R-LA) continue to advocate for another reconciliation bill for Trump’s America First agenda on housing, health care, energy, military, border security and tariffs before the midterms. Get the Details
Kiley Introduces the Keep Jobs in California Act of 2026: On Feb. 18, Rep. Kevin Kiley (R-CA) introduced H.R. 7619, the Keep Jobs in California Act of 2026. The bill would prohibit states from imposing retroactive taxes on individuals who are no longer residents of the state. The bill targets the California ballot initiative on the wealth tax that would apply to individuals who lived in the state as of Jan. 1, 2026, even if they left the state prior to the adoption of the initiative. Get the Details
Washington Senate Passes Wealth and Income Tax Measures: Last week, the Washington state Senate passed S.B. 6346 and S.B. 6347, which respectively would establish a 9.9% tax on annual net income over $1 million in 2029, and roll back last year’s estate tax increases. Both measures have been sent to the House and will be considered by the committee on Feb. 27. Get the Details
Illinois Millionaire Surtax Amendment Introduced: Rep. LaShawn Ford (D) introduced HRJCA0026, which would amend the state constitution and impose a 3% surtax on annual income over $1 million. The bill is currently in the Illinois state House, and if adopted by both chambers it would be put on a general election ballot six months after adoption. If voters approve of the resolution, it would give the general assembly approval to proceed with a constitutional amendment. Get the Details
Wealth Tax bills surge as D.C. fractures. Major tax shifts may be closer than you think. Are we at a tipping point? Budget fights collide with Wealth Tax expansion and clean energy credit changes.
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