ITEP's Research Priorities
Washington Post: As IRS audits waned, big businesses racked up unapproved tax breaks
July 14, 2021
One challenge for the IRS is that each company tends to interpret tax laws differently, says Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, a left-leaning Washington nonprofit organization. Corporate accountants are “exercising their own judgment about what constitutes [an unrecognized tax benefit] and what is not,” Gardner said. Read […]
A Divided and Insufficiently Taxed House Cannot Stand
July 14, 2021 • By Guest Blogger
“It’s not just condominium buildings that are showing their age,” Peter Coy writes in a piece critiquing the condominium form of ownership for underinvesting in maintenance. Coy just as easily could have been describing American democracy that is showing its age in similar ways.
DC Fiscal Policy Institute: NEW VIDEOS: Why DC’s Wealthiest Should Pay their Fair Share
July 12, 2021
The highest income residents in DC pay less as a share of their income than the rest of us. At the same time, low-income Black and brown DC residents have been economically devastated by the pandemic. Watch videos
Washington State Budget & Policy Center: New Reforms Bring Balance and Equity to State’s Tax Code and Economy
July 9, 2021
People seeking a more equitable state tax code and stronger supports for parents scored major victories earlier this year in Washington state, after more than a decade of hard work and focused advocacy by community leaders. By enacting a new excise tax on extraordinary stock profits (capital gains) and an expansive new tax credit for […]
Napa Valley Register: California’s progressive tax system proved its worth during the pandemic
July 8, 2021
In fact, the Institute on Taxation and Economic Policy reports that California’s tax system does the most of any state to alleviate inequality — while taxes in most states serve to widen the gap between rich and poor. Read more
Politico: As Bezos called for tax hikes, Amazon lobbied to keep its tax bill low
July 8, 2021
“It’s very likely they’re getting hundreds of millions of dollars a year in R&D tax credits,” said Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, who’s studied the tax habits of Amazon and other big companies. Amazon declined to comment. The tax breaks themselves aren’t at risk, but the deduction […]
New York Post: Jeff Bezos openly embraces tax hikes, but Amazon lobbied against them
July 8, 2021
Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, who’s studied the tax habits of Amazon and other big companies, told Politico that Amazon is likely “getting hundreds of millions of dollars a year in R&D tax credits.” Read more
State Rundown 7/7: The New Fiscal Year Starts off With a Bang, And Not Just Fireworks
July 7, 2021 • By ITEP Staff
States were busy over the past week despite the Fourth of July holiday. Many are gearing up for upcoming tax and budget clashes that could shape their futures for some time...
In Drive to Cut Taxes, States Blow an Opportunity to Invest in Underfunded Services
July 7, 2021 • By Marco Guzman
Many states find themselves in a peculiar fiscal situation right now: federal pandemic relief money has been dispersed to states and revenue projections have exceeded expectations set during the pandemic. Meanwhile, more and more workers are returning to jobs as vaccines roll out and typical economic activity resumes. Some states, however, have decided to squander their unexpected fiscal strength on tax cuts.
The Child Tax Credit in Practice: What We Know About the Payoffs of Payments (Webinar)
July 7, 2021 • By ITEP Staff
Join us for a discussion on why tax credits like the Child Tax Credit (CTC) expansion are good economic policy. You’ll hear from anti-poverty experts on why Congress should extend the policy beyond 2021 and what we can learn from an initiative providing low-income mothers in Jackson, Miss., $1,000 cash on a monthly basis, no strings attached. From theory to practice and what it means for American families, this CTC webinar will provide a unique angle through which to view this transformative policy.
Congress Should Follow States’ Lead on Inclusive Economic Recovery
July 7, 2021 • By Meg Wiehe
President Joe Biden's American Families and Jobs plans intend to “build back better” and create a more inclusive economy. To fully live up to this ideal, the final plan must include undocumented people and their families.
Yahoo! Finance: Biden’s tax plan would cost richest Americans an extra $1.5M next year, analysis finds
July 6, 2021
In all, the changes proposed by the Biden administration would generate about $88.4 billion in new tax revenue, according to a separate analysis conducted by the Institute on Taxation and Economic Policy. Read more
CNN.com: States are so flush with funds, many are cutting taxes
July 1, 2021
This means that the state’s wealthiest 5% of taxpayers will receive nearly 60% of the benefits, while the bottom 80% will get only 23%, according to an analysis for Policy Matters Ohio by the left-leaning Institute on Taxation and Economic Policy. Read more
Center for Migration Studies: Innovating Inclusion: A New Wave of State Activism to Include Immigrants in Social Safety Nets
July 1, 2021
States across the country are tackling an equity issue in the tax code by breaking from federal eligibility standards for their state Earned Income Tax Credits (EITCs). Specifically, states are taking it upon themselves to end the exclusion of taxpayers who file their taxes with an Individual Taxpayer Identification Number (ITIN). ITINs are personal tax […]
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