ITEP's Research Priorities
The Washington Post: How the Schumer-Manchin Climate Bill Might Impact You and Change the U.S.
July 28, 2022 • By Steve Wamhoff
“This would certainly be the biggest corporate tax increase in decades,” said Steve Wamhoff, a tax expert at Institute on Taxation and Economic Policy. “We’ve had decades of tax policy benefiting the rich, but this is really the first attempt to raise revenue in a progressive way that would begin to combat wealth and income […]
Reuters: Biden Pledge to Tax Wealthy, Companies Revived with Manchin-Led Bill
July 28, 2022 • By ITEP Staff
Biden said during a speech on Thursday that the deal would “for the first time in a long time begin to restore fairness to the tax code – begin to restore fairness by making the largest corporations in America pay their fair share without any new taxes on people making under $400,000 a year.” The […]
ITEP: Reconciliation Deal Represents “Transformational Change” for U.S. Tax Policy
July 28, 2022 • By Amy Hanauer
Amy Hanauer, Executive Director of the Institute on Taxation and Economic Policy, issued the following statement on “The Inflation Reduction Act of 2022,” the reconciliation bill announced yesterday by Senate Democrats. “This is a transformational change for U.S. tax and energy policy. The bill restores sorely needed and long-overdue accountability to our tax code. By […]
State Rundown 7/27: It’s (Sales Tax) Holiday Season, But Who’s Really Celebrating?
July 27, 2022 • By ITEP Staff
It’s the holiday season – well, the sales tax holiday season, that is. But after taking a closer look, you may notice that there is little to celebrate...
Legislative Momentum in 2022: New and Expanded Child Tax Credits and EITCs
July 22, 2022 • By Neva Butkus
State legislatures across the country made investments in their future, centering children, families, and workers by enacting and expanding state Earned Income Tax Credits (EITCs), Child Tax Credits (CTCs), and other refundable credits this session. In total, seven states either expanded or created CTCs this session. Connecticut, New Mexico, New Jersey, Rhode Island and Vermont […]
Most States Used Surpluses to Reduce Taxes But Not in Sustainable or Progressive Ways
July 22, 2022 • By Kamolika Das
The average person on the street would have no idea that many states experienced unprecedented budget surpluses this year. Iowa, for instance, has the most structurally deficient bridges of any state with nearly 1 in 5 falling apart. The Iowa Board of Regents proposed a 4.25 percent tuition increase for all three state universities and […]
New ITEP Brief Shows How State Sales Tax Holidays Fail to Live Up to the Hype
July 20, 2022 • By Marco Guzman
Twenty states this year have decided to go so far as to forgo a combined $1 billion in vital tax revenue in favor of conveniently popular yet ultimately ineffective sales tax holidays. Whether it’s a state looking for a way to help families manage the rising cost of goods or to celebrate back-to-school shopping season, these policy options are poorly targeted and an inadequate use of state tax revenue that could be doing more to make childcare more affordable, health care more accessible and high-quality education available to everyone.
Sales Tax Holidays: An Ineffective Alternative to Real Sales Tax Reform
July 20, 2022 • By Marco Guzman
Lawmakers in many states have enacted “sales tax holidays” (20 states will hold them in 2022) to temporarily suspend the tax on purchases of clothing, school supplies, and other items. These holidays may seem to lessen the regressive impacts of the sales tax, but their benefits are minimal while their downsides are significant—particularly as lawmakers have sought to apply the concept as a substitute for more meaningful, permanent reform or arbitrarily reward people with specific hobbies or in certain professions. This policy brief looks at sales tax holidays as a tax reduction device.
The Tax Legislation Debated in Congress Would Reduce Inflation and Help Americans Deal with Rising Costs
July 19, 2022 • By Steve Wamhoff
Opposing a fully paid-for spending bill because of inflation concerns does not make any sense. Opposing a deficit-reducing bill because of inflation is absurd.
ITEP: Tax and Climate Provisions Are What Americans Want and Need
July 15, 2022 • By Amy Hanauer
In response to conflicting reports on negotiations with Sen. Joe Manchin of West Virginia on tax increases and climate provisions, Amy Hanauer, ITEP Executive Director, released the following statement: Sen. Joe Manchin may be uncertain about higher taxes on the rich and corporations, but the American people are not. Large majorities of Americans support the tax […]
State Rundown 7/13: Let’s Make a Deal
July 13, 2022 • By ITEP Staff
From the Bay State to the Golden State, lawmakers across the nation are making deals and negotiating budgets with major tax implications...
Abortion-Restricting States Do Least for Children
July 13, 2022 • By Amy Hanauer
Lawmakers have passed laws in 22 states that either immediately or soon will greatly restrict women’s rights to decide whether and when to have children. These states have some of the worst tax, spending and labor market policies for families in the U.S.
CNBC: Millions of Calif. families to get ‘inflation relief’ stimulus checks of up to $1,050
July 5, 2022 • By ITEP Staff
Democratic California Gov. Gavin Newsom and Democratic legislative leaders agreed on a $17 billion relief package that includes $9.5 billion in inflation relief funds. Those estimated 23 million California taxpayers will receive between $200 and $1,050 by early next year. California has more flexibility to send these kinds of payments because its budget is one of the […]
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