Multiple states and Congress are simultaneously pushing tax code overhauls, with Arizona, Illinois, Missouri, and South Carolina advancing major reforms while federal lawmakers introduce digital asset tax bills and a new Trump tax proposal reshapes rates and deductions.
·Arizona HB 4168 aligns state income tax overhaul with federal One Big Beautiful Bill Act framework
·South Carolina House passes income tax bill heading to governor; Iowa governor signs property tax relief package
·Illinois and Missouri tax overhauls face questions on homeowner impact and ballot eligibility
·Congress introduces bills targeting digital asset taxation rules
·Think tank research suggests systemic overhaul more effective than targeted tax credits
drawn from Current Federal Tax Developments, The Center Square, Injustice Watch, Accounting Today · updated 2d ago