ITEP's Research Priorities
The Commonwealth Institute: Youngkin Administration’s Proposals Would Sharply Reduce State Resources, Largely Exclude Working Families with the Lowest Incomes
February 7, 2022
The Youngkin administration’s tax plan would leave out nearly 80 percent of the over 800,000 taxpayers in Virginia who have incomes below $24,000. Gov. Youngkin’s proposed changes would also sharply reduce state General Fund revenues — the portion of the state budget over which lawmakers have the most discretion and which primarily goes toward funding […]
One Voice: Eliminating Individual Income Tax is Bad for Mississippi
February 7, 2022
House Bill 531 would eliminate the state individual income tax. Eliminating the income tax is bad for Mississippi, especially the state’s working families, communities of color, and retirees. While some lawmakers are suggesting that Mississippi’s revenue system is sound enough to support this tax cut, due to the current surplus, this couldn’t be further from […]
Alabama Arise: Eliminating State Grocery Tax Would Make Life Better for Alabama Families
February 7, 2022
Two bills in the 2022 regular session would end the state grocery tax while protecting school funding. The graph below shows how millions of Alabamians would benefit. Untaxing groceries quickly and responsibly would boost economic and food security for all Alabamians. That means replacing revenue for public schools in a way that doesn’t harm struggling […]
Newsweek: States’ Pursuit of Top-Heavy Tax Cuts Is Disconnected from Reality
February 4, 2022
The following is an excerpt of an opEd by Aidan Davis, ITEP senior policy analyst, and Neva Butkus, policy analyst, published on Feb. 4 in Newsweek: One report after another in recent months revealed that the nation’s richest individuals gained wealth during the pandemic while ordinary families financially stood still or faced impossible decisions—such as […]
Open Sky Policy Institute: Most Nebraskans Left Behind by Income Tax Cut Bills
February 4, 2022
Non-Nebraskans, corporations and wealthy residents would be big winners under the latest income tax cuts proposed in in LB 938 and LB 939. Meanwhile, the bills – which would ratchet the state’s top corporate and personal income tax rates to 5.84% over four and three years respectively – offer most Nebraskans little tax savings while depleting revenue needed […]
CBS News: Millions of low-income Americans eligible for tax refund boost this year
February 3, 2022
Meanwhile, the bigger credit comes at a welcome time for many Americans, as roaring inflation consumes most of low-wage workers’ pay gains. “While these folks without dependent children may not be faced with the cost of childcare, they’re definitely paying more for food, for gas, for rent. For these folks, these necessities may be out […]
State Rundown 2/2: The First Tax Cut Domino Falls…
February 2, 2022 • By ITEP Staff
One-time payments have become a common theme around the country, as Idaho is one of roughly eleven states with plans to provide tax relief in a similar fashion...
Netflix Posts a Record $5.3 Billion in Profits and a Federal Tax Rate of Just 1.1 Percent
February 1, 2022 • By Matthew Gardner
Netflix's 2021 financial report shows it doubled its profits to $5.3 billion from the previous year and reported an effective federal corporate income tax rate of 1.1 percent.
Connecticut Voices for Children: Steps to a Fairer Tax System
February 1, 2022
Although Connecticut has the second highest level of per capita personal income in the US, making it exceptionally wealthy overall, many families consistently struggle because Connecticut also has the second highest level of income inequality and a substantial racial income gap, meaning a small, disproportionately white portion of the population primarily benefits from the state’s […]
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