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media mention March 11, 2021 Bloomberg: Millions of Americans Miss Out on Stimulus ‘Survival’ Checks
The think tank Institute on Taxation and Economic Policy estimates that 280 million people would receive a full or partial payment under the new criteria, compared with 288 million who… -
blog March 10, 2021 Targeted Relief and the American Rescue Plan in Five Charts
The American Rescue Plan Act is unique in that it employs the tax code to deliver relief to those struggling most. These five charts provide a glimpse of how the plan helps families across the income spectrum and also targets economic relief to low- and moderate-income families in the form of cash payments and expansions to the Child Tax Credit and Earned Income Tax Credit.
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media mention March 10, 2021 Reuters: Analysis: Despite Republican Opposition, Red States Fare Well in Biden’s COVID-19 Bill
The Biden bill also expands tax breaks for children and low-income workers to encompass poor households that did not qualify before. Experts say the expanded child tax credit alone could… -
media mention March 10, 2021 Washington Post: Yes, the Covid Rescue Bill Is a ‘Liberal Wish List.’ What’s Wrong With That? (Opinion)
Indeed, the design of the bill is such that the benefits are spread among poor and middle-class people, while giving little or nothing directly to the wealthy (though the rich… -
media mention March 10, 2021 Kiplinger: Congress Passes Bill with More “Targeted” Stimulus Payments
However, the stimulus check plan in the original version of the bill is different than what’s found in the final bill. While in the Senate, a more aggressive stimulus check… -
media mention March 10, 2021 Los Angeles Times: House Sends $1.9-trillion COVID-19 Economic Relief Bill to Biden’s Desk
The checks are phased out quickly compared to the previous checks Congress approved last year. Individuals with annual incomes of $80,000 or more, joint filers with annual incomes of $160,000… -
news release March 10, 2021 American Rescue Plan Uses Government Muscle to Tackle Big Economic Problems
Media contact Following is a statement by Amy Hanauer, executive director of The Institute on Taxation and Economic Policy, regarding the American Rescue Plan, which has cleared both houses of… -
media mention March 10, 2021 BuzzFeed: Congress Just Passed Another Round Of COVID Checks And Unemployment Aid
The Institute on Taxation and Economic Policy found that 83 million children live in households that will benefit [from the Child Tax Credit expansion]. Currently, the families with the lowest… -
media mention March 10, 2021 Philadelphia Inquirer: The New Coronavirus Relief Bill Promises Big Financial Help for Parents in the Philly Region
Combining the relief checks and tax credits, people in the bottom 60% of earners, those making less than $65,000, would see an 11% jump in income, according to the liberal… -
media mention March 10, 2021 Forbes: Here’s Everything You Need To Know About The New Expanded Child Tax Credit
83 million. That’s how many children live in households that will benefit from the expanded credit, according to the Institute on Taxation and Economic Policy. The expansion would send about $116 billion… -
media mention March 10, 2021 CNBC: Stimulus Checks and Expanded Tax Credits
Between stimulus checks and expanded tax credits in the latest Covid-relief package, most U.S. households are poised to get some extra cash. The amount? An average of $3,450 for the… -
media mention March 9, 2021 San Francisco Chronicle: California Schools, Governments and Residents to Get Billions in COVID Stimulus
The bill includes another round of direct stimulus payments to Americans. The nonpartisan Institute on Taxation and Economic Policy estimates that 22 million adults and 9 million children in California… -
media mention March 9, 2021 Mississippi Today: Study: House Tax Proposal Increases Burden on Poor Mississippians
The bottom 60% of Mississippi’s income earners would be paying more taxes under legislation that has passed the House while the top 40% would be paying less, according to an… -
media mention March 9, 2021 CNET: Child Tax Credit 2021 Approval Could Bring More Money Than Stimulus Checks. What to Know
For the bottom 20% of families in terms of income, the proposed expansion of the CTC would increase income by an average of 9.7% — even higher if you consider… -
ITEP Work in Action March 8, 2021 Washington State Budget & Policy Center: Why Now Is the Time to Pass a Tax on Extraordinary Profits
Members of the Washington State Senate have an historic opportunity to create a more just state tax code while bolstering and sustaining our state’s fiscal and economic recovery long after… -
media mention March 8, 2021 Fiscal Times: Biden’s Stimulus: What You Need to Know Now
What you need to know about the $1,400 “stimulus checks”: Individuals earning less than $75,000 and couple making less than $150,000 are eligible for the full $1,400 relief payments, plus… -
report March 7, 2021 Estimates of Cash Payment and Tax Credit Provisions in American Rescue Plan
Update: On March 10, the House passed the Senate version of the COVID relief bill, called the American Rescue Plan Act, and sent it to President Biden for his signature. This means that the Senate version of the bill described herein is the final legislation enacted into law.
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ITEP Work in Action March 5, 2021 West Virginia Center on Budget & Policy: Governor Justice’s Tax Plan Favors the Wealthy, While Creating Large Holes in the Budget
Governor Justice has finally unveiled his proposal to make sweeping changes to the state’s tax system, including a substantial cut to the state’s personal income tax, while raising a variety… -
ITEP Work in Action March 5, 2021 DC Fiscal Policy Institute: Tax Injustice: DC’s Richest Residents Pay Lower Taxes than Everyone Else
A tax system that adequately advances racial and economic justice must be progressive, requiring the richest people to pay a much higher share of their income in taxes than lower-income… -
map March 5, 2021 How Long Has It Been Since Your State Raised Its Gas Tax?
10 states to have gone two decades or more without a gas tax increase.
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brief March 5, 2021 How Long Has It Been Since Your State Raised Its Gas Tax?
Many state governments are struggling to repair and expand their transportation infrastructure because they are attempting to cover the rising cost of asphalt, machinery, and other construction materials with fixed-rate gasoline taxes that are rarely increased.
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media mention March 4, 2021 Bloomberg Tax: Mega-Rich and Plans to Tax Them Abound in Washington State
According to a Dec. 31 report from the bipartisan Tax Structure Work Group, the state’s system creates average tax burdens at 8.2% of total income for households with income between… -
ITEP Work in Action March 4, 2021 Florida Policy Institute: Florida Policymakers Need to Reassess How the Minimum Wage is Enforced
Finally, the state budget could take a hit if wage theft persists. Sales tax revenue as an effect of higher minimum wages is particularly relevant to highlight in Florida. The… -
blog March 3, 2021 New Estimates on Senate’s Slightly Revised Cash Payment
As the Senate takes up the COVID relief bill passed by the House last week, Senate Democrats have proposed to lower the income level at which the $1,400 cash payments would be phased out. New estimates from ITEP demonstrate that, for most people, the change would make no difference.
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ITEP Work in Action March 3, 2021 Florida Policy Institute: State Resolution Could Result in $1.47 Billion in Lost Wages for Young Workers and Foregone Sales Tax Revenue for Florida
Florida, lacking a personal income tax, relies on sales tax revenue to support critical areas like education and health and human services. More than 75 percent of Florida’s General Revenue…