ITEP's Research Priorities
Boston Globe: The Tax Act Will Make It Tougher for Cities to Pay Their Bills
March 11, 2018
Roughly 80 percent of Massachusetts residents will see their tax bills shrink next year, according to the Institute on Taxation and Economic Policy. Read more
CNN.com: Washington, Save Partisan Fighting for Actual Partisan Issues
March 10, 2018
DACA-eligible immigrants pay $2 billion each year in state and local taxes, according to a report from the Institute on Taxation and Economic Policy. One study indicates that 97% of DACA recipients are in school or employed. Read more
Pounds, Dollars, It’s Still Comparative Crumbs for Workers
March 9, 2018 • By Matthew Gardner
The tobacco company Reynolds American announced this week that its full-time employees will receive a one-time bonus of $1,000 in the wake of a sharp reduction in its British parent company’s tax bill.
Georgia Budget and Policy Institute: All Georgians Stand to Lose from Immigrant Crackdown Measure
March 9, 2018
And Georgia immigrants contribute significant state and local tax revenue, including $352 million a year by undocumented immigrants as a whole and $66 million by Dreamers in particular. Read more here
Maine Center for Economic Policy Policy Brief: The LePage Tax Bill
March 9, 2018
On March 1, Gov. Paul LePage’s Administration presented a tax bill to the Legislature designed to mirror at the state level some of the reforms enacted by passage of the Tax Cuts and Jobs Act at the federal level. The proposal is framed as simple conformity with federal law but goes much further than routine […]
State Rundown 3/8: March Tax Debates “In Like a Lion”
March 8, 2018 • By ITEP Staff
This week was very active for state tax debates. Georgia, Idaho, and Oregon passed bills reacting to the federal tax cut, as Maryland and other states made headway on their own responses. Florida lawmakers sent a harmful "supermajority" constitutional amendment to voters. New Jersey now has two progressive revenue raising proposals on the table (and a need for both). Louisiana ended one special session with talks of yet another. And online sales taxes continued to make news nationally and in Kansas, Nebraska, and Pennsylvania.
Iowa Fiscal Partnership: Governor’s Tax Cut Plan Sets Stage For Service Cuts
March 7, 2018
Governor Kim Reynolds’ tax proposal trades massive cuts in public services for small savings for lower-income taxpayers, larger savings for high-income taxpayers and few meaningful strides toward fairness in a system that already treats the poor poorly and raises too little revenue to avoid mid-year cuts.
Economic Progress Institute: Changes in Federal Tax Law Will Cut Taxes for Many Rhode Islanders; Wealthiest Families and Corporations Benefit the Most
March 7, 2018
To help explain what the Act will mean for Rhode Island, the Economic Progress Institute released a paper entitled "Changes in federal tax law will cut taxes for many Rhode Islanders; wealthiest families and corporations benefit the most."
The Fiscal Times: How States Are Responding to the GOP Tax Overhaul
March 6, 2018
Concerned about the effects of the Republican tax overhaul on their local economies, some state legislatures are considering revamping their own tax systems to address everything from lost tax deductions to growing income inequality. Here’s a rundown some of those efforts, based on an analysis by the liberal-leaning Institute on Taxation and Economic Policy: Read […]
Trends We’re Watching in 2018, Part 1: State Responses to Federal Tax Cut Bill
March 5, 2018 • By Dylan Grundman O'Neill
Over the next few weeks we will be blogging about what we’re watching in state tax policy during 2018 legislative sessions. And there is no trend more pervasive in states this year than the need to sort through and react to the state-level impact of federal tax changes enacted late last year.
Louisiana Budget Project: On the Brink of Collapse
March 5, 2018
The backbiting and bitterness surrounding the revenue debate in Baton Rouge is wildly disproportionate to the effect on Louisiana families. As The Advocate’s Tyler Bridges reports, none of the tax bills would cost any Louisiana family more than 1 percent of their income per year. What’s really at stake in the tax debate – besides trying to fill a $1 billion hole in the budget – is whether to continue relying on a regressive sales tax, or if the burden should be shifted slightly to high-income taxpayers.
Five Ways States Can Recoup Corporations’ Massive Federal Tax Giveaway
March 2, 2018 • By Aidan Davis
Corporate America is doing alright. Corporate profits soared last year, and 2018 has already brought a major windfall in the form of the Trump-GOP tax law, which dramatically cut the federal corporate tax rate from 35 percent to 21 percent and shifted to a territorial tax system, giving income earned offshore by U.S. companies a free pass by no longer making it subject to U.S. taxes.
Atlanta Business Chronicle: General Assembly in Tax Cutting State of Mind
March 1, 2018
https://www.bizjournals.com/atlanta/news/2018/03/01/general-assembly-in-tax-cutting-state-of-mind.html?ana=bbg
New Republic: Has Amazon Become Too Big to Tax
March 1, 2018
Earlier this week, Matthew Gardner of the Institute on Taxation and Economic Policy reported that Amazon, which recorded $5.6 billion in profits in 2017, paid zero in federal taxes, thanks to “various tax credits and tax breaks for executive stock options.” That’s remarkable in isolation, but especially remarkable when you consider that Donald Trump’s corporate tax bill […]
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