January 9, 2017
Representative Lou Lang introduced a fair tax rate structure (House Bill 689), which would provide over 99% of income taxpayers with a tax cut while raising $1.9 billion to prevent more harmful budget cuts. Read more here
January 9, 2017
“Following hundreds of millions of dollars in budget cuts in Fiscal Year 2016, Connecticut policymakers tackled the nearly $1 billion budget deficit in Fiscal Year 2017 (FY 17) by adopting a two-pronged austerity approach. First, policymakers refused to consider any new revenues, taking a cuts-only method that struck $233.6 million from programs that support children […]
January 9, 2017
“Proposition 30, approved by voters in 2012, provided critical revenues to California at a time when the state faced daunting budgetary challenges. Prop. 30’s tax rate increases are scheduled to fully expire at the end of 2018. Prop. 55, which will appear on the November 8, 2016 statewide ballot, would extend for 12 years the […]
January 9, 2017
Proposition 30, approved by voters in 2012, provided critical revenues to California at a time when the state faced daunting fi scal challenges. These revenues increased school funding and allowed for reinvestment in other public services after years of cuts. Prop. 30’s tax rate increases are scheduled to expire over the next several years. Although […]
January 9, 2017
The LLC Loophole is unfair, expensive, and failed to create jobs. According to the Institute on Taxation and Economic Policy, the LLC loophole costs Kansas nearly $290 million per year. It was originally touted as the plan’s signature feature, but now legislators and business leaders of all political stripes publicly acknowledge that it failed to […]
January 9, 2017
“The governor wants to get through the first year by spending down some of the rainy day fund and using part of reamining surplus funds. As far as short term solutions, it could be a lot worse. But big problems with the Governor’s plan show up in year two and beyond. The plan leaves a […]
January 9, 2017
The Governor’s Task Force on Transportation Infrastructure Investment is an 18-member Task Force established by Governor Edwards to recommend community-driven solutions for Louisiana’s transportation infrastructure investment needs. The Task Force submitted its formal recommendations to the Governor in December 2016. Read the full report here
January 9, 2017
“Congratulations citizens of Washington state [“School-funding task force unlikely to have proposed fixes when Legislature convenes,” NWThursday, Jan. 5]. It is official: According to the Institute on Taxation and Economic Policy, the state of Washington is now ranked No. 1 for having the most regressive tax system of all 50 states.” Read more
January 9, 2017
“Also, the increase in income tax for large families would mostly negatively impact lower-income families, who according to an Institute on Taxation and Economic Policy report are already paying a higher percentage of their income for state and local taxes than the upper 20 percent.” Read more
January 9, 2017
“Grayson, the Interfaith Workers Center director, said the coalition needs to try to work to educate the public that attempts at widespread deportations would be costly and harm families and the U.S. economy. A report released in February by the Institute on Taxation and Economic Policy, a nonprofit, non-partisan research organization, calculated that the 11 […]
January 9, 2017
“In the Peach State, the price of a gallon of of gasoline increased by 0.3 cents on January 1 and the price of a gallon of diesel increased 0.4 cents, according to the Institute on Taxation and Economic Policy. The size of the increase was figured by a new formula approved by Georgia lawmakers that […]
January 6, 2017
“The economic challenges that face North Carolina families were front and center in 2016. North Carolina wrestled with the disconnect between political rhetoric and everyday reality this election year, thanks to a recovery that failed to boost wages or provide enough jobs for many of our communities. Here are 12 charts that tell the story […]
January 6, 2017
“One barrier to raising revenues is the reluctance of legislators on both sides of the aisle to place additional taxes on Pennsylvania’s poor and middle-class. That reluctance is well motivated. Over the last 25 years, incomes for the richest Pennsylvanians have been rising fast while incomes for all other Pennsylvanians have been stagnant. Despite that, […]
January 5, 2017
Using a sophisticated model of Ohio’s tax system, the national research group, Institute on Taxation and Economic Policy (ITEP), found that with a 3.5 percent flat tax, 72 percent of Ohioans would pay more state income tax, while just 4 percent would pay less. The remaining 24 percent would pay the same amount as they […]
January 5, 2017
“The LLC exemption — which eliminated taxes on pass-through business income and relieved the tax burden for more than 330,000 Kansas business owners — was passed and signed almost half a decade ago. The exemption has cost our state hundreds of millions of dollars since then (the Institute on Taxation and Economic Policy says it […]
January 4, 2017 • By ITEP Staff
This week we bring you updates on major revenue shortfalls looming in Nebraska, Oklahoma, and Pennsylvania, as well as gas tax changes taking effect in some states and being debated in others. — Meg Wiehe, ITEP State Policy Director, @megwiehe Oklahoma lawmakers are weighing options to close the state’s $870 million shortfall. Up for discussion are […]
January 3, 2017
“The Budget and Policy Center blames the deficit on reductions in corporate taxes enacted under Govs. Ed Rendell and Tom Corbett. The state’s top taxpayers are getting a bargain, the center says: Households in the top 1 percent of the income distribution pay less than half the tax rate of households in the middle.” Read […]
January 3, 2017
“Some background. The CPBB’s report, “How State Tax Policies Can Stop Increasing Inequality and Start Reducing It,” starts by ranking the various states according the ratio of average income for the top 5 percent of households to the bottom 20 percent, using Census Bureau data. According to this measure, New Jersey ranks seventh most unequal. […]
January 3, 2017
“Other state legislatures are likely to have similar discussions. Carl Davis, research director at the Institute on Taxation and Economic Policy, tells USA Today that it appears more than a dozen states “will seriously debate gas tax changes next year.” Read more
January 3, 2017
“Since 2013, 19 states have made changes to the way their gas tax is calculated, said Carl Davis, research director for The Institute on Taxation and Economic Policy. There had been years and years and sometimes even procrastination in the states,” said Davis, who studies a variety of issues related to state and federal tax […]
January 3, 2017
“The Institute on Taxation and Economic Policy, a nonprofit, nonpartisan think tank, proposed that state and local governments could significantly increase revenue collection by legalizing undocumented immigrants. A report released in February by ITEP noted that undocumented immigrants collectively pay an estimated $11.64 billion a year. The state of California, home to more than 3 […]
January 3, 2017
“There are still 20 states that have waited a decade or more since last raising their gas tax rates,” said Carl Davis, research director at the Institute on Taxation and Economic Policy, a progressive think tank. “At least a dozen states are going to be discussing gas tax increases next year.” Read more