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media mention March 12, 2021 Fortune: The COVID Relief Bill Doesn’t Raise Taxes on Gig Workers
The new tax revenue is money that should’ve been collected all along, but many workers didn’t have the documentation that serves as a reminder and guide to reporting the incomes… -
media mention March 12, 2021 CNBC: New $1,400 Stimulus Checks Are on the Way. Here’s Who Qualifies for the Money
“If you got a full payment last time, you will get the full payment this time,” provided your income has not substantially changed, said Steve Wamhoff, director of federal tax… -
media mention March 12, 2021 Associated Press: COVID Relief Bill Could Permanently Alter Social Safety Net
“The question will be, do they want child poverty to go back up again” by letting that credit expire, said Steve Wamhoff, director of federal tax policy for the liberal Institute on Taxation and Economic Policy.
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media mention March 11, 2021 Forbes: The Historic Child Tax Credit Expansion Could Provide Monthly Payments To Millions Of Households. Here’s How it Would Work
The amount of the credit is being increased, but that’s not the whole story. For the first time in history, families will qualify to receive the child tax credit as… -
media mention March 11, 2021 Epoch Times: Biden Administration Eyes Raising Corporate Tax Rate to Pay for Stimulus
The tax cuts of 2017, which was signed into law by President Donald Trump, reduced the corporate income tax rate to 21 percent from 35 percent beginning in 2018. It… -
media mention March 11, 2021 The Balance: $1.9 Trillion Rescue Bill Hinged On Just 9 Votes
The relief package will send stimulus checks of up to $1,400 per taxpayer and $1,400 per dependent, benefiting an estimated 280 million adults and children, according to estimates from the… -
media mention March 11, 2021 Jacobin: The New COVID-19 Relief Bill Is Good, But Not Good Enough
As a spending bill, the ARP’s impact cannot be overstated. It is the mirror opposite of the Trump tax cuts, targeting most of its benefits to the bottom end of… -
media mention March 11, 2021 The Center Square: Biden Signs $1.9 Trillion Stimulus Bill into Law
The $1,400 stimulus checks included in the legislation are expected to reach an estimated 85% of Americans and cost $410 billion, according to the Institute on Taxation and Economic Policy. Read more -
blog March 11, 2021 Rep. Doggett and Sen. Whitehouse Introduce Bill to Crack Down on Offshore Corporate Tax-Dodging
The 2017 tax law simply replaced one set of loophole-ridden rules that favored offshore profits over domestic profits with a new set of loophole-ridden rules doing the same thing. A bill introduced today by Rep. Lloyd Doggett and Sen. Sheldon Whitehouse would finally fix this to follow a simple principle: we should tax the offshore profits and domestic profits of our corporations the same way.
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media mention March 11, 2021 Fort Worth Star-Telegram: Texas Parents Get Big Tax Breaks from COVID Relief Bill
Nearly 6.8 million Texans with children could receive monthly checks starting in July, under the new economic relief plan President Joe Biden signed into law Thursday. Nearly one of three… -
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…