May 22, 2019
Federal lawmakers have recently announced at least five proposals to significantly expand existing tax credits or create new ones to benefit low- and moderate-income people. While these proposals vary a great deal and take different approaches, all would primarily benefit taxpayers in income groups who received only a small share of benefits from the Tax Cuts and Jobs Act.
April 11, 2019
For decades, profitable Fortune 500 companies have been able to manipulate the tax system to avoid paying even a dime in tax on billions of dollars in U.S. profits. This ITEP report provides the first comprehensive look at how the new corporate tax laws that took effect after the passage of the 2017 Tax Cuts and Jobs Act affects the scale of corporate tax avoidance.
July 12, 2019
We’ve said it before, and we’ll say it again: states don’t have to wait for federal lawmakers to make moves toward progressive tax policy. And so far, 2019 has been a good year for equitable and sustainable tax policy in the states. With July 1 marking the start of a new fiscal year for most states, this special edition of the Rundown looks at how discussions in 2019 have been dominated by plans to raise revenue for vital investments, tax the rich and corporations fairly, use the tax code to help workers and families and advance racial equity, and shore up revenues for infrastructure.
- ITEP Work in Action July 11, 2019
July 10, 2019
Each year, state and local governments spend billions of dollars on targeted tax incentives—special tax breaks ostensibly designed to encourage businesses to relocate, expand or simply stay where they are. A law enacted by the Missouri legislature creates a template for states to work bilaterally to put the brakes on the “race to the bottom” in state business taxes.
- ITEP Work in Action July 3, 2019
July 1, 2019
Mercury is rising, presidential primary debates are underway and most state legislative sessions have adjourned for summer. Whether you’re curling up with a good book (or your favorite e-Reader) or looking for a new television show to binge-watch, check out these recommendations on ITEP’s Summer Reading (and Watching) List.
Poorest 20 percent pay a 50 percent higher effective state and local tax rate than the top 1 percent
ITEP’s sixth edition of Who Pays? A Distributional Analysis of the Tax System in All 50 States finds that most state and local tax systems continue to tax low- and middle-income households at higher rates than the wealthy.
Contrary to claims that the rich pay a vast majority of taxes, the reality is very different. The nation's tax system as a whole is only moderately progressive.
Taxes fund our democracy and candidates’ philosophy on how the nation raises revenues to fund its priorities matters. Here is an overview of how bold progressive tax policy ideas (on which some candidates have stated policy positions) can work.
11.5 million children live in poverty across the country. Lawmakers can tackle poverty in their home states with refundable state-level Child Tax Credits and reach families the Tax Cuts and Jobs Act left behind. Joint report with the Columbia Center on Poverty and Social Policy.
While ITEP has produced quantitative and qualitative research on class-based tax inequities, we, until recently, have ignored how tax policies affect communities based on race. Solely examining the tax law in the context of class misses a bigger-picture story about how the nation’s public policies not only perpetuate widening income and wealth inequality, they also preserve historic and current injustices that continue to allow white communities to build wealth while denying the same level of opportunity (and often suppressing it) to communities of color.
Whether it’s at the state or federal level, ITEP produces careful research and in-depth analyses of tax policies, and provides a voice for working people in tax policy debates. State advocates, policymakers and media often use our work to inform public discourse on current and proposed tax policies.
ITEP’s federal policy resources provide quantitative and qualitative research and analysis on current tax policies, proposals, and reform options. Its distributional analyses highlight how tax proposals will affect low-income, middle-class and wealthy Americans nationally and in all 50 states.
State taxes pay for essential public services, from education to health care. But the ideal design of a tax system is complicated. ITEP’s state policy resources offer insights into central issues, including the impact of state tax systems on individuals, families, and businesses. Its work also analyzes the sustainability of revenue sources over time.
Corporate Tax Research
ITEP’s corporate tax research examines the tax practices of Fortune 500 companies. Besides its corporate study on average effective tax rates paid by the nation’s largest, most profitable corporations, ITEP produces research on subjects such as offshore cash holdings, tax haven abuse, executive stock options and other tax loopholes.
Americans have long wanted progressive taxes but few, if any, lawmakers publicly backed this view. What’s happening now isn’t a shift in public opinion, rather it’s Washington finally catching up with the American people.