Institute on Taxation and Economic Policy Staff – Page 21

Idaho Center for Fiscal Policy: Complex Tax Proposal Would Have Uneven Impacts on Idahoans

February 23, 2015 • By ITEP Staff

A new proposal in the Idaho Legislature would dramatically shift the way taxes are collected and generate a new revenue source for our neglected roads and bridges. The proposal has several components which in combination mean that taxpayers across the bottom 95% of the distribution will pay more, on average. The proposal is designed to […]

Open Sky Policy Institute: LB 357 would lead to budget cuts, benefits top earners

February 19, 2015 • By ITEP Staff

LB 357 calls for significant reductions in personal and corporate income tax rates over several years. It also transfers $160 million out of the cash reserve, $80 million to the Property Tax Credit Program and another $80 million to the General Fund to fill in for the loss of income tax revenue in the first […]

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Most Americans Live in States with Variable-Rate Gas Taxes

February 16, 2015 • By ITEP Staff

The federal government and many states are seeing shortfalls in their transportation budgets in part because the gasoline taxes they use to generate those funds are poorly designed. Thirty-one states and the federal government levy "fixed-rate" gas taxes where the tax rate does not change even as the cost of infrastructure materials inevitably increases over time. The federal government's 18.4 cent gas tax, for example, has not increased in over 22 years. And twenty states…

Policy Matters Ohio: Kasich tax proposal would skew tax system further in favor of Ohio’s affluent

February 10, 2015 • By ITEP Staff

The Kasich administration proposal to cut income taxes and expand sales and other taxes would produce big tax cuts for Ohio’s most affluent residents, while increasing taxes on lower- and moderate-income families. The proposal would provide an $11,906 annual tax cut on average to taxpayers in the top 1 percent of the income spectrum, who […]

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How Long Has it Been Since Your State Raised Its Gas Tax?

February 10, 2015 • By Carl Davis

An updated version of this report has been published with data through July 1, 2017. Read the report in PDF form. Many states’ transportation budgets are in disarray, in part because they are trying to cover the rising cost of asphalt, machinery, and other construction materials with a gasoline tax rate that is rarely increased.1 […]

Connecticut Voices for Children: Families First, Prosperity for All: Making Connecticut’s Tax and Benefit System More Family-Friendly

February 9, 2015 • By ITEP Staff

Connecticut’s tax system is uniquely unfriendly to families. Connecticut is one of only two states with an income tax that does not offer tax credits or exemptions to adjust for the cost of caring for children and other dependents. Read the full report here.

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Grocery Tax Exemption Is No Improvement for Idaho

February 5, 2015 • By Carl Davis

Read as a PDF. A proposal to eliminate Idaho’s Grocery Credit Refund and create a sales tax exemption for all grocery purchases would reduce state revenues by roughly $34 million each year while primarily benefiting higher-income taxpayers, tourists and other non-residents. Low-income families would save very little, and some could actually see a tax increase. […]

Washington State Budget & Policy Center: Taxing Capital Gains

February 2, 2015 • By ITEP Staff

FAQ on Enacting a Capital Gains Tax In Washington State Read the full report

Arkansas Advocates for Children and Families: Changing how we tax capital gains

February 2, 2015 • By ITEP Staff

A relatively small number of wealthy Arkansans who make money from the sale of investments reaped the benefits from the capital gains tax cuts passed in 2013. These expensive tax cuts, however, are likely to be scaled back. Today the House Committee approved a version of Governor Hutchinson’s middle-income tax cut that reduces, instead of […]

Montana Budget & Policy Center: Investing in Montana’s Working Families

February 2, 2015 • By ITEP Staff

In Montana, thousands of families struggle to make ends meet. One of the most promising policy opportunities to support working families and boost our economy is the enactment of a state Earned Income Tax Credit (EITC). The Great Recession and other economic trends made it harder for Montana’s families to live above the poverty line. […]

Arkansas Advocates for Children and Families: Governor’s tax plan leaves out poorest Arkansans

February 2, 2015 • By ITEP Staff

The governor’s new tax cut plan is a step in the right direction for tax fairness, but leaves out the poorest 20 percent of Arkansans and raises concerns about how the lost revenue will impact vital programs for children and families. Despite tax breaks targeted to the middle class, and even a hike for the […]

Economic Progress Institute: Making Work Pay for Working Families

February 2, 2015 • By ITEP Staff

Rhode Islanders who work full-time should be able to support their families. Yet, far too many are struggling to pay for housing, heat, food, and health care. Increasing Rhode Island’s refundable Earned Income Tax Credit to 20 percent from 10 percent would put hundreds of dollars back in the pockets of working families, improving their […]

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Who Pays? (Fourth Edition)

January 30, 2015 • By Carl Davis, Matthew Gardner, Meg Wiehe

Major tax overhauls are on the agenda in a record number of states, and “Who Pays?” documents in state-by-state detail the precise distribution of state income taxes, sales and excise taxes and property taxes paid by each income group as of January 2013. It is a critical baseline against which future proposals can be measured. […]

Open Sky Policy Institute: ‘Circuit breaker’ in LB 186 provides targeted property tax reductions

January 29, 2015 • By ITEP Staff

Property tax “circuit breakers” like the one proposed in LB 186 are a way to provide targeted tax reductions to those whose property taxes are high in relation to their incomes. They are called “circuit breakers” because the tax credits are triggered once property taxes reach a certain percentage of a person’s income, similar to […]

Mississippi Economic Policy Center: A State Earned Income Tax Credit: A Boost for Mississippi Families

January 29, 2015 • By ITEP Staff

Mississippi families are struggling to make ends meet despite working hard and playing by the rules. The federal Earned Income Tax Credit (EITC) gives many of these families the boost they need to be more financially secure. Mississippi can also enact a refundable state EITC to leverage the federal credit’s track record of encouraging work, […]

New Jersey Policy Perspective: Tax Increase to Fund Transportation Should Be Combined with Credit to Help Low-Income Families

January 26, 2015 • By ITEP Staff

As New Jersey policymakers close in on a deal to boost New Jersey’s transportation funding, a bold solution that raises at least $1 billion in new revenue a year through new gas taxes is essential if New Jersey wants to take advantage of one of its greatest economic assets – its location – and rebuild […]

Michigan League for Public Policy: Income Tax Cuts: Financially Irresponsible and No Economic Benefits

January 26, 2015 • By ITEP Staff

Proposals to roll back the personal income tax in Michigan will not create jobs or grow our economy and will disproportionately benefit the wealthiest taxpayers the most. It is also fiscally irresponsible to reduce taxes when the state is facing a budget shortfall due to lower than expected revenues. In fact, most of the benefits […]

North Carolina Justice Center: A Capital Loss – Eliminating taxes on capital gains would make North Carolina’s tax system more unfair

January 24, 2015 • By ITEP Staff

Tax cut proponents in North Carolina are pushing another plan that would benefit the wealthy at the expense of everyone else, turning their sights to eliminating the state income tax on the sale of artwork, vacation homes and other high-end capital gains that only a few North Carolinians profit from. Contrary to supporters’ claims, this […]