Elites are vital actors in understanding state strengths and weaknesses during critical times. To what extent do Central American elites constrain tax policies implemented during COVID-19? Using novel data sets of cabinet trajectories and tax policies implemented in Central America, this article offers an in-depth empirical comparative analysis of the elites' trajectories and resources, state capacities, and policy implementation. Our findings show first, that when state capacities are weak, and elites' capacities for influence are strong, the policy response is regressive. Second, when there are weak state capacities and inter-elite conflicts, the policy responses are used as a control mechanism. And third, where state capacities are strong, but elites are cohesive, policy responses tend to favor the fiscal status quo. This article contributes to increasing our understanding of the relationship between elite power and public policies by making an empirical and conceptual contribution to studying elites.