Institute on Taxation and Economic Policy Staff – Page 30

ITEP Work in Action April 12, 2013
North Carolina Justice Center: Profiles in corporate tax avoidance- Duke Energy

Duke Energy at a glance Largest electric power holding company in the U.S.; serves vast majority of NC electric consumers Assets: $114 billion 2012 Profits: $1.792 billion Net 2012 tax…
ITEP Work in Action April 12, 2013
North Carolina Justice Center: Profiles in corporate tax avoidance- Merck

Merck & Co. at a glance One of the largest pharmaceutical companies in the world; key player in global vaccine production and distribution. 2012 Sales: $14 billion 2012 Assets: Total…
ITEP Work in Action April 12, 2013
California Budget Project: Who Pays Taxes In California?

Former Supreme Court Justice Oliver Wendell Holmes once noted that “Taxes are what we pay for civilized society.” State and local taxes support our public schools, colleges, and universities; streets…
ITEP Work in Action April 12, 2013
The Commonwealth Institute: Destination Unknown

Navigating Virginia’s New Transportation Funding Package – and Potential Potholes The final transportation package passed by the General Assembly raises a lot of money for our roads, bridges and mass…
ITEP Work in Action April 8, 2013
Policy Matters Ohio: Sales-tax credit would help low-income Ohioans

Gov. John Kasich’s proposal to broaden the sales tax may not survive, or it could be scaled back. Legislators should consider a sales-tax credit anyway, because the existing sales tax…
report April 8, 2013
Indiana Senate’s Income Tax Cut: Just as Lopsided as the Governor’s

The Indiana Senate Appropriations Committee recently approved a budget cutting the state’s personal income tax rate from 3.4 percent to 3.3 percent beginning in 2015. Although this proposal costs less than one-third the amount of Governor Pence’s preferred cut (which would take the rate down to 3.06 percent), it would still reduce state revenues by roughly $150 million each year.
ITEP Work in Action April 3, 2013
North Carolina Justice Center: First Comprehensive Tax Legislation Would Not Protect Low- and Middle-Income Taxpayers from Tax Increases

80 percent of taxpayers would see slightly higher taxes under the first comprehensive tax legislation introduced this legislative session, while the top 1 percent of earners would get a tax…
report April 2, 2013
Kansas House and Senate Proposals Set the Stage for Tax Hikes on Poor and Middle-Income Families

Earlier this year, Kansas Governor Sam Brownback proposed another round of personal income tax cuts (on top of those he signed into law last year).1 The House and Senate each responded with their own tax cut plans and are expected to reconcile their differences this week. To date, much attention has been given to the major difference between the House and Senate plans — the Senate bill includes permanently preserving a sales tax rate hike that was set to expire this summer while the House plan would allow the rate hike to expire. However, the long term impact of either plan should be of paramount concern to all Kansans because both plans eventually lead to the elimination of the state’s personal income tax.
report April 1, 2013
Governor Jindal’s Tax Plan Would Increase Taxes on Poorest 60 Percent of Louisianans

In recent weeks, Louisiana Governor Bobby Jindal has released many details of the tax plan he first sketched out in January. The Governor proposes a revenue-neutral “tax swap” that would repeal all state income taxes and increase the state’s sales tax among other changes. A new ITEP analysis of the Governor’s plan shows that, if fully implemented in 2013, the plan would increase taxes on the poorest sixty percent of Louisianans overall, while providing large tax cuts for the best-off Louisiana taxpayers.
ITEP Work in Action March 27, 2013
Arkansas Advocates for Children and Families: Benefits of HB 1585 go mostly to wealthy

According to an analysis by the Institute on Taxation and Economic Policy (ITEP), House Bill 1585 would target personal income tax relief to Arkansas taxpayers who make over $155,000 per…
ITEP Work in Action March 27, 2013
North Carolina Jusice Center: North Carolina’s Business Tax Deduction – Who Benefits?

In the 2011 budget, the North Carolina General Assembly created a deduction for the first $50,000 in non-passive income for businesses filing through the personal income tax. Proponents of the…
ITEP Work in Action March 20, 2013
Public Assets Institute: Vermont Has Options to Raise Revenue for Smart Investments

Gov. Peter Shumlin has the right idea when he says we should invest in expanding the availability of child care for working Vermonters. However, it just doesn’t make sense to…
ITEP Work in Action March 20, 2013
Utah Foundation: Fueling Our Future, 2013-2040

Policy Options to Address Utah’s Future Transportation Needs Funding Utah’s transportation needs is a significant economic and fiscal challenge for state policymakers. Over the next three decades, Utah’s population is…
ITEP Work in Action March 19, 2013
Louisiana Budget Project: Eliminating Louisiana’s Income Taxes Will Hurt the State’s Economy

Gov. Bobby Jindal’s plan to abolish Louisiana’s income taxes is based on a flawed economic analysis and is likely to hurt the state’s economy rather than boost it, according to…
ITEP Work in Action March 15, 2013
Policy Matters Ohio: Small Investment, Big Difference

If Ohio is going to broaden the tax base, the state should adopt a state Earned Income Tax Credit (EITC), as 25 states (including the District of Columbia) have done.…
ITEP Work in Action March 12, 2013
Massachusetts Budget and Policy Center: Effects of Raising Rates and Exemptions on the State Income Tax

This Facts At A Glance updates MassBudget’s analysis of a reform option that would make changes to the way the Commonwealth taxes wage and salary income as well as investment…
ITEP Work in Action March 12, 2013
Massachusetts Budget and Policy Center: Examining Tax Fairness

Taxes are the primary way we pay for the things that we do together through government. These include things like police and fire protection; public education; roads, bridges and public…
ITEP Work in Action March 12, 2013
Massachusetts Budget and Policy Center: Possible Reforms to the Governor’s Tax Plan

In his FY 2014 budget, the Governor proposes making significant new investments in education and transportation, as well as limiting cuts to other program areas. He proposes paying for these…
ITEP Work in Action March 12, 2013
Missouri Budget Project: Racing to the Bottom

Senate Gives Initial Approval to Extreme Tax Cut Bill Which Would Devastate Missouri Services, Infrastructure, and the State’s Economy An extreme tax cut proposal, perfected this week by the Missouri…
ITEP Work in Action March 1, 2013
Missouri Budget Project: Senate Ways & Means Tax Cut Would Devastate Services, Infrastructure, and Economy

An extreme tax cut proposal approved by a Senate Committee this week would slash MO’s general revenue by more than one-fifth, resulting in devastating cuts to services throughout the state…
report February 28, 2013
States with “High Rate” Income Taxes are Still Outperforming No-Tax States

Lawmakers in about a dozen states are giving serious consideration to either cutting or eliminating their state personal income taxes. In each case, these proposals are being touted as a way to boost economic growth.
report February 27, 2013
Laffer’s New Job Growth Factoid is All Rhetoric and No Substance

A new talking point printed on the opinion page of The Wall Street Journal is proving irresistible to state lawmakers looking for an excuse to reduce or eliminate their states’ income taxes:

A new analysis by economist Art Laffer for the American Legislative Exchange Council finds that, from 2002 to 2012, 62% of the three million net new jobs in America were created in the nine states without an income tax, though these states account for only about 20% of the national population.
ITEP Work in Action February 26, 2013
Oklahoma Policy Institute: What’s unaffordable?

The Governor’s assertion that extending Medicaid is unaffordable to Oklahoma is unconvincing in at least two respects. First, the study on which she bases her cost estimates makes clear that…
ITEP Work in Action February 21, 2013
The Commonwealth Institute: Senate’s Version of HB2313 Still Lacks Offsetting Relief Measures

While the Senate’s version of Governor McDonnell’s transportation bill looks very different from the bill passed by the House – and it is – the two versions have one major…
ITEP Work in Action February 19, 2013
Oklahoma Policy Institute: Governor Fallin’s tax cut would do little to nothing for the average Oklahoman

In her State of the State address, Governor Fallin unveiled yet another proposal to cut Oklahoma’s income tax. Her plan is drastically scaled back from last year’s proposal, which attempted…

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