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media mention April 27, 2021 CNN: Elizabeth Warren: US taxes are rigged in favor of Amazon, Netflix and other big companies
Despite reporting large pretax profits, at least 55 large corporations paid no federal corporate income tax in their most recent fiscal year, according to the Institute on Taxation and Economic… -
media mention April 27, 2021 CNBC: Elizabeth Warren takes aim at FedEx, Nike, Amazon in push for corporate tax hike
FedEx and Nike were mentioned in an April report by the Institute on Taxation and Economic Policy as companies that recently paid little-to-no federal corporate income taxes. “The delivery giant… -
media mention April 27, 2021 Footwear News: Sen. Elizabeth Warren: Nike and Amazon Should Be Hit With Higher Tax Rate
Early this month, a study from the Institute on Taxation and Economic Policy suggested that 55 U.S.-based companies — including Nike and FedEx — did not pay corporate income taxes… -
blog April 27, 2021 Alvin Schorr and the Policy Relay Race
Sometimes a good idea takes a while. Alvin Schorr, who would have turned 100 this month, helped draft a 1972 bill “to provide for a system of children’s allowances.” He continued to push (in a 1977 congressional testimony and in a 1983 New York Times op-ed) for a refundable tax credit for all families and a children’s allowance, among other laudable ideas. A half-century later, these ideas—which many others have championed—are becoming reality.
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media mention April 26, 2021 Morning Call: PPL Corp. and other companies with Lehigh Valley ties paid zero U.S. taxes in 2020
Matthew Gardner, a senior fellow with the Institute on Taxation and Economic Policy and co-author of the organization’s report, said PPL documents show the company made pre-tax U.S. income of… -
media mention April 26, 2021 Daily Kos: Democrats gave Americans a huge tax cut—just not the wealthiest ones
According to new estimates from congressional forecasters, Democratic tax cuts for low- to middle-income earners included in President Joe Biden’s relief plan could mean that people making less than $75,000… -
ITEP Work in Action April 26, 2021 Idaho Center for Fiscal Policy: Analysis and Considerations Related to House Bill 380
The Idaho Legislature is considering a proposal that would reduce the number of income tax brackets from seven to five, cut income and corporate tax rates and provide a one-time… -
ITEP Work in Action April 24, 2021 New Jersey Policy Perspective: Blueprint to Secure a Just Recovery
In 2017, New Jersey Policy Perspective released the Blueprint for Economic Justice and Shared Prosperity. It charted a course forward for the state after decades of short-sighted policymaking that exacerbated… -
media mention April 23, 2021 Bloomberg: The Myth of the Middle-Class SALT Cap Victim
Once again, if you make well under $1 million a year and your tax rate really did go up from 2017 to 2018 because of the SALT cap, I’m not… -
media mention April 23, 2021 Washington Post: The Federal Government Is Losing Billions in Unpaid Taxes, in Part Due to Racial Disparities in the Tax Code
Drawing from a report by the nonpartisan Institute on Taxation and Economic Policy, Wyden said an estimated 80 percent of the individual benefits under the Trump administration’s tax cuts went… -
ITEP Work in Action April 23, 2021 Washington Center for Equitable Growth: Weekend reading: Inequities in U.S. taxation and homeownership edition
Homeowners of color who sell their homes receive lower prices due to such factors as reduced neighborhood school quality, but they pay the same property taxes because these factors are… -
media mention April 23, 2021 Bloomberg: Firms Shuffle Intangible Assets Abroad Despite U.S. Tax Break
President Joe Biden and other Democrats have said FDII has been ineffective and should be replaced or revamped. While the concerns they’ve voiced about FDII aren’t directly related to the… -
media mention April 23, 2021 FAIR: ‘Some of Our Most Profitable Companies Are Not Contributing to Our Basic Needs’
Janine Jackson interviewed Institute on Taxation and Economic Policy’s Amy Hanauer about corporate tax avoidance for the April 16, 2021, episode of CounterSpin. This is a lightly edited transcript. Read… -
media mention April 23, 2021 Bloomberg: IRS Releases Country-by-Country Filings: Insights on Tax Havens, Effective Tax Rate
One of the interesting patterns in the CbCR filings is the gap between the statutory and effective tax rates. The ETR on the U.S. is just 9% versus the statutory… -
ITEP Work in Action April 23, 2021 NC Policy Watch: NC needs to fix its tax code to secure a just recovery — for everyone
North Carolina’s current tax code asks the top to pay less as a share of their income than taxpayers with poverty-level incomes. By putting in place tax policies that would… -
media mention April 22, 2021 The Hill: Progressives Divided over Efforts to Repeal SALT Cap
Outside liberal groups are also criticizing the push to repeal the SALT deduction cap. The Institute on Taxation and Economic Policy released a report Tuesday that said repealing the cap… -
media mention April 22, 2021 Axios: GOP Senators Open to Corporate Tax Increase
Driving the news: The president has highlighted a study from the left-leaning Institute on Taxation and Economic Policy showing 55 corporations actually received $3.5 billion in tax rebates, instead of… -
media mention April 21, 2021 CNBC: Black, Hispanic Families Would Benefit Less from a SALT Cap Repeal than Whites
Repealing the $10,000 state and local tax deduction cap is likely to have uneven results for Americans. In fact, Black families are 42% less likely and Hispanic families are 33%… -
April 21, 2021 On Corporate Tax Avoidance “[A majority of people] recognize this basic unfairness: When you give big companies tax breaks, you’re taking them away from small businesses. The corporate tax reform… -
blog April 21, 2021 An EITC to Lift Up Young Workers
Young workers are confronting a harsh economic reality filled with student loan debt and far too few good-paying jobs. The pandemic reinforced this group’s long history of not receiving proper benefits, such as health insurance, from their employers. They also are often overlooked when it comes to policies that promote economic wellbeing. The federal Earned Income Tax Credit (EITC), for example, is a glowing success story. It lifted 5.8 million people out of poverty in 2018, including 3 million children. But a key shortcoming of the federal EITC: working adults without children in the home receive little to no benefit.
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media mention April 20, 2021 Jacobin: Democrats’ Lies About Tax Breaks Sound a Lot Like Republicans’
If you only listened to Democratic lawmakers, you might think these numbers are dramatically different in Democratic states with higher state and local taxes — but “there is no state… -
media mention April 20, 2021 Bloomberg: SALT Cap Revolt Led by N.Y. Democrats Snarls Biden Spending Plan
A study released Tuesday showed that the cap also would disproportionately benefit White families over non-White households, further complicating the Biden administration’s plans to make racial equity a core plank… -
media mention April 20, 2021 Forbes: Repealing The Cap On State And Local Tax Deductions Would Widen The Racial Wealth Gap, New Study Shows
As some lawmakers from high-tax Blue states push for the elimination of the Trump-era $10,000 cap on state and local tax (SALT) deductions, a new study from the left-leaning Institute… -
media mention April 20, 2021 The Hill: Left-leaning Group: SALT Cap Repeal Would Worsen Racial Income Disparities
Repealing the cap on the state and local tax (SALT) deduction would exacerbate racial income and wealth disparities, according to an analysis released Tuesday from the left-leaning Institute on Taxation… -
news release April 20, 2021 SALT Cap Repeal Would Exacerbate Racial Inequities
A new ITEP analysis provides critical data for the debate over whether to repeal the $10,000 cap on state and local tax (SALT) deductions. The report finds that repeal of the SALT cap without other reforms would worsen economic disparities and exacerbate racial inequities baked into the federal tax system.