Institute on Taxation and Economic Policy

The White House: Fact Sheet: The Biden Economic Plan Is Working

February 6, 2023

President Biden has long believed that we must build the economy from the bottom up and middle out, not the top down. …  In 2020, 55 of the largest corporations that were profitable paid $0 in federal income tax. To end that unfairness in the tax code, President Biden signed into law a 15 percent minimum tax […]

States Newsroom: States Take Heat for Spending Federal Relief Funds on Tax Cuts, Prisons

February 2, 2023

As states plan how they’ll spend the $25 billion remaining in federal COVID relief funds, some also are facing criticism and renewed scrutiny over how they allocated money already received from the American Rescue Plan Act. Read more.

State Rundown 2/1: February Brings New (and Some Old) Tax Policy Conversations

Tax bills across the U.S. are winding their way through state legislatures and governors continue to set the tone for this year’s legislative sessions...

By Fighting Audit Bias, Funding for Tax Enforcement Can Advance Racial Equity

Black households are between 2.9 and 4.7 times more likely to be audited by the Internal Revenue Service than non-Black households. This disparity is driven in part but not wholly by a lack of resources at the IRS, which itself is driven by years of budget cuts the agency has faced.

Hawaiʻi Budget & Policy Center: Closing the Capital Gains Loophole

February 1, 2023

Eliminating the preferential tax treatment of capital gains income will increase tax fairness and help fund our future. Read more.