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TaxBuzz Top 5 - Steyer Targets 'Trump Tax Loophole' in CA, Japan Triples Tourist Tax & More

by
Rebekah Barton
on
4/10/2026
TaxBuzz Top 5 - Steyer Targets 'Trump Tax Loophole' in CA, Japan Triples Tourist Tax & More

Each Friday, TaxBuzz brings you the top five tax and accounting headlines you need to know from the workweek. We know life can get busy and you don't always have time to scroll through your news feed to stay informed.

We weed through all of the week's stories to showcase the most important updates in the tax and accounting world.

1. Steyer Targets ‘Trump Tax Loophole’ in California Governor Race With Push to Raise Commercial Property Taxes

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Credit: Win McNamee/Getty Images

Billionaire gubernatorial candidate Tom Steyer is making tax policy a centerpiece of his California campaign, vowing to close what he calls a “Trump tax loophole” tied to the state’s property tax system. The proposal targets long-standing rules under Proposition 13 that allow commercial properties to avoid reassessment, often keeping tax bills artificially low compared to residential properties.

Steyer’s plan would require more frequent reassessments of commercial properties, similar to the failed 2020 Proposition 15, which aimed to create a “split-roll” system taxing businesses at market value while preserving protections for homeowners. He argues the current system disproportionately benefits large corporations and wealthy property owners.

Supporters say the change could generate $8 billion to $12.5 billion annually for schools and local governments, making it one of the most significant potential tax increases under discussion in the 2026 governor’s race.

Critics, however, warn that similar proposals have already been rejected by voters and argue higher commercial property taxes could be passed on to consumers or discourage business investment. They also note the “Trump” branding is largely political, with only a loose connection to federal tax policy.

Candidates in California's gubernatorial race are increasingly focusing on tax fairness, corporate taxation and affordability, issues likely to define the state’s fiscal direction in the years ahead.

2. IRS Chief Takes Campaign-Style Tour to Promote New Tax Breaks Ahead of Filing Deadline

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Credit: Chip Somodevilla/Getty Images

Frank Bisignano, the newly installed IRS CEO, made a campaign-style stop in New York to promote new tax deductions included in the 2025 federal tax overhaul, highlighting benefits like expanded breaks for tips, overtime pay and seniors as the April filing deadline approaches. The appearance marked an unusual shift for the traditionally nonpolitical agency, with leadership actively selling the law’s benefits to taxpayers.

Bisignano emphasized that many Americans are already seeing larger refunds, up more than 10% on average — tied to provisions in the so-called “One Big Beautiful Bill Act,” which expanded the standard deduction, child tax credit and introduced new targeted deductions.

The outreach effort reflects a larger strategy by the IRS to improve public perception and awareness of new benefits, particularly as the agency undergoes a major transformation focused on modernization, digital tools and reduced staffing.

However, critics say the campaign-style messaging risks blurring the line between tax administration and politics, especially as many of the new deductions are temporary and come with complex eligibility rules that may not deliver the full benefits taxpayers expect.

Tax policy is being communicated very differently than it has been before in 2026, with federal officials increasingly treating tax changes not just as policy, but as a message to voters navigating a complicated and evolving filing season.

3. Japan City Triples Tourist Tax After Cherry Blossom Chaos Forces Festival Shutdown

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Credit: Tomohiro Ohsumi/Getty Images

Officials in Kyoto, Japan moved to triple a local lodging tax after overwhelming crowds during cherry blossom season forced parts of the annual festival to shut down, highlighting the growing strain of overtourism. Authorities say the surge in visitors led to congestion, safety concerns and disruptions that made it difficult to manage public spaces during peak bloom.

The proposed tax increase is aimed at both curbing excessive tourism demand and generating additional revenue to fund crowd control, infrastructure and preservation efforts in heavily visited areas. Local leaders say the goal is not to discourage tourism entirely, but to better manage its impact during high-traffic periods.

Tourism officials argue the cherry blossom season has become increasingly difficult to manage in recent years, with record visitor numbers overwhelming transit systems, parks and historic districts. The shutdown of parts of the festival marked a tipping point for policymakers.

Critics warn that sharply higher taxes could deter visitors or shift tourism to other destinations, potentially impacting local businesses that rely on seasonal travel. Others counter that demand is so strong, especially during cherry blossom season, that higher taxes are unlikely to significantly reduce visitor numbers.

Cities around the world are increasingly using tourism taxes as a tool to manage crowds and fund infrastructure, particularly as popular destinations struggle to balance economic benefits with quality-of-life concerns for residents.

4. Maine Passes Budget With $300 Relief Checks and New Millionaires Tax

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Credit: halbergman/Getty Images

Maine lawmakers have given final approval to a $500+ million supplemental budget that pairs direct relief payments with a new tax on high earners, marking one of the most closely watched tax policy compromises of the year. The plan includes $300 “affordability checks” for more than 500,000 residents, aimed at helping households cope with rising costs.

To fund the relief, and broader spending on education, housing and energy costs, the package introduces the nation's latest 'Millionaires Tax,' in this case a 2% surtax on income above $1 million, affecting roughly 2,400 high-income households. The new levy pushes Maine’s top income tax rate above 9%, making it one of the highest in the region.

The budget passed narrowly along party lines in both chambers, reflecting deep political divisions over the approach. Democrats, including Gov. Janet Mills, argue the combination of targeted tax increases and direct payments provides meaningful relief while maintaining funding for key services.

Republicans and business groups sharply criticized the plan, calling it one of the largest tax increases in state history and warning the millionaire surtax could drive wealthy residents, and their tax dollars, out of Maine.

Maine's move is part of a growing trend nationwide, with legislatures pairing tax hikes on top earners with direct cash payments to residents, as policymakers try to balance affordability concerns with long-term budget stability.

5. Indiana Gas Tax Suspension Takes Effect, But Drivers May Not See Immediate Savings

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Credit: Jackyenjoyphotography/Getty Images

Indiana’s temporary gas tax suspension is now in effect, with Gov. Mike Braun ordering a 30-day pause on the state’s 7% gasoline use tax to help offset rising fuel costs tied to the Iran conflict. The move is expected to reduce prices by about 17 cents per gallon, offering modest relief to drivers facing some of the highest gas prices in years.

However, officials and analysts warn that the savings may not show up instantly at the pump. Because fuel prices are influenced by supply chains, inventory already in tanks and how quickly stations adjust pricing, it could take several days before consumers see the full benefit of the tax break.

Even once implemented, the relief is limited. Indiana’s gas taxes include multiple components, including a 36-cent per gallon excise tax that remains in place, meaning the overall reduction is relatively small compared to total fuel costs.

State officials say they will monitor gas stations to ensure the tax savings are passed on to consumers and not absorbed elsewhere in pricing. The attorney general has also warned against potential price gouging during the suspension period.

The policy highlights a broader issue seen across the U.S.: while gas tax holidays can provide short-term relief, global oil prices, not state taxes, remain the primary driver of what Americans ultimately pay at the pump.

Which headline this week most interests you?

Feature Image Credit: Spencer Platt/Getty Images

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Rebekah Barton

Rebekah Barton

Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.

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