698 posts
NC Budget & Tax Center: Jan. 1: Tax cuts for the rich in NC — still no state budget
• By ITEP Staff
The New Year will bring little certainty to everyday North Carolinians. State legislators have failed to use the policy tools available to them to address rising costs for the basics, from food to child-care to housing. Read more.
Don’t Be Fooled by Treasury’s Jekyll and Hyde Approach to Tax Enforcement
• By Matthew Gardner
While this guidance is sorely needed to clean up the mess created by a hasty Congress, these notices stand in sharp contrast to the deregulatory, anti-tax approach that the Treasury Department has taken.
Pennsylvania Just Gave Low-Income Workers a Tax Credit Boost. Now It’s Philadelphia’s Turn.
• By Kamolika Das
In the same way states are building upon federal tax credits, localities should consider building on state tax credits.
‘Tax the Rich,’ Says … Mitt Romney?
• By Matthew Gardner
His 900-word New York Times op-ed identifies some sensible federal tax reform ideas that would create a fairer, more sustainable tax system.
Governor Gavin Newsome: FACT: California’s Population Increased…Again
• By ITEP Staff
California’s population increased again, marking the third consecutive year of growth and signaling a continued return to long-term demographic stability.
States Can Create or Expand Refundable Credits by Taxing Wealth, Addressing Federal Conformity
• By Zachary Sarver
Many states already recognize the potential of these credits to boost low- and moderate-income households. Other states should follow suit.
Texas Property Tax Plan Mimics California’s Damaging Prop 13
• By Neva Butkus, Rita Jefferson
This proposal would disrupt the state’s housing market and jeopardize local revenues while doing very little to help workers and families struggling to pay their property tax bills – just as Prop 13 did in California.
State Rundown 12/17: Tax Policy ‘Naughty or Nice’ List Has Late Entrants
• By ITEP Staff
With a little over a week left, some states are solidifying their spots on the tax policy “naughty or nice” list.
No, Scott Bessent: States Aren’t Taking Away Anyone’s Tax Cuts
• By Nick Johnson
It’s wildly inappropriate for a U.S. Treasury Secretary to lean on states to adopt or not adopt specific federal provisions in their own state tax codes.
State Rundown 12/10: ‘Tis the Season to Reclaim Lost Revenue
• By ITEP Staff
property tax debates are taking place throughout the nation.
State Rundown 12/3: Property Tax Cuts and Deficits
• By ITEP Staff
States are increasingly facing difficult choices as revenues stagnate and deficits come clearer into focus.
Conforming to the ‘No Tax on Tips’ Gimmick Just Got Riskier and Costlier for States
• By Nick Johnson
An unknown number of workers who previously were assumed to be ineligible for the tax break may nonetheless claim it.
State Rundown 11/24: States Say ‘No Thank You’ to Federal Tax Cuts Reducing State Revenue
• By ITEP Staff
Lawmakers in two more states have wisely said “no thank you” to federal tax cuts that would have flowed through to their state tax codes and undermined funding for their priorities
States Are Opening a Pandora’s Box of Data Centers
• By Page Gray
State governments are rushing to offer billions of dollars in subsidies to data center construction, apparently without understanding their full costs.
Local Vacancy Taxes: A Tool but Not a Panacea
• By Rita Jefferson
Vacancy taxes will not single-handedly solve problems in cities, but they are worth considering to address housing shortages, land use, and building thriving communities.
State Rundown 11/13: States Tackle Impending Deficits, Pennsylvania Secures an EITC
• By ITEP Staff
Revenue forecasts look increasingly grim as states anticipate shortfalls due to the slowing economy and impacts of the new federal tax law.
State Tax Dollars Shouldn’t Subsidize Federal Opportunity Zones
• By Eli Byerly-Duke
The Opportunity Zones program benefits wealthy investors more than it benefits disadvantaged communities.
States Begin Decoupling from Flawed ‘QSBS’ Tax Break
• By Nick Johnson, Sarah Austin
A costly tax break for wealthy venture capitalists is drawing some critical attention from state policymakers.
Trump Raises the Price of Filing a Tax Return
• By Joe Hughes
The move was expected, given heavy lobbying from tax prep companies like Intuit and H&R Block to put a halt to the IRS’s popular Direct File program.
State Rundown 11/5: Voters Say “Yes!” to Public Investments
• By ITEP Staff
Despite being an off-year election, voters made a call for shared public investments at the polls.
Biden Tax Reforms Take a $16 Billion Bite Out of Trump’s Big Tax Giveaway to Meta
• By Matthew Gardner
Meta’s earnings setback is entirely attributable to an important tax reform championed by the Biden administration in 2022.
Oil and Gas Companies Are Paying Less Tax to the U.S. than to Foreign Governments
• By Matthew Gardner
Since 2017, these companies paid $135 billion in income taxes to foreign governments, but just $29 billion to the U.S.
The Wealth Proceeds Tax: A Simple Way for States to Tax the Wealthy
• By Sarah Austin, Carl Davis
Taxing the proceeds generated by wealth through a new Wealth Proceeds Tax is a simple way for states to raise billions in new revenue and improve the fairness of their tax systems.
State Rundown 10/27: As Temperatures Cool Tax Policy Heats Up
• By ITEP Staff
States across the nation are debating how best to respond to costly new federal tax cuts.
Why States Shouldn’t Go Along With OBBBA’s Corporate Tax Breaks: A Practical Guide
• By Nick Johnson, Michael Mazerov
States should immediately decouple from four costly corporate tax provisions in the new federal tax law.
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