Alex Welch – Page 37

ITEP Work in Action January 30, 2020
Alabama Arise: End Alabama’s state grocery tax and protect school funding

How to untax groceries without costing education a dime It’s crucial to replace the grocery tax revenue without hurting the people who would benefit most from the tax’s elimination. Fortunately,…
blog January 29, 2020
ITEP Urges IRS to End SALT Workaround Scheme for Businesses

A new IRS proposal could once again allow wealthy business owners to use state charitable tax credits–including tax credits for donating to support private and religious K-12 schools–to dodge the federal government’s $10,000 cap on state and local tax (SALT) deductions.
January 29, 2020
ITEP Comments and Recommendations on REG-107431-19

Comments regarding the possibility that owners of passthrough businesses may be able to circumvent the $10,000 SALT deduction cap of section 164(b)(6) by recharacterizing the nondeductible portion of their state and local income tax payments as deductible expenses associated with carrying on a trade or business.
ITEP Work in Action January 28, 2020
West Virginia Center on Budget & Policy: Who Pays? Rethinking West Virginia’s Tax System

To get a sense of a state’s values, one often need look no further than its tax system. What a state spends its tax dollars on and how it acquires…
ITEP Work in Action January 28, 2020
New Mexico Voices for Children: Expanding New Mexico’s Best Anti-Poverty Program

The Working Families Tax Credit (WFTC) is New Mexico’s equivalent of the federal Earned Income Tax Credit (EITC). The WFTC’s eligibility levels and credit amounts are based directly on the…
ITEP Work in Action January 28, 2020
Arizona Center for Economic Progress: In Search of a State Budget That Creates Opportunity for All

While all families in Arizona help pay for health, education and public safety through state and local taxes, low-income and middle-income families pay a larger portion of their income in…
ITEP Work in Action January 26, 2020
The Arizona Center for Economic Progress: In Search 2020

In Search of State Budget That Creates Opportunity for All When all types of state and local taxes are combined—income, sales, and property—families with income in the lowest 20 percent…
blog January 24, 2020
GOP Legacy on IRS Administration: Auditing Mississippi, not Microsoft

Money doesn’t buy happiness—but it can buy immunity from the reach of Uncle Sam. The IRS is outgunned in cases against corporate giants because that’s how Republican leaders want it to be. They have systematically assaulted the agency’s enforcement capacity through decades of funding cuts. Instead of saving money, these cuts have cost billions: each dollar spent on the IRS results in several dollars of tax revenue collected.
January 23, 2020

On the COVID-19 health and economic crisis “The current disaster threatens our health and our economy. Ongoing crises stem from fast-accelerating climate change, skyrocketing inequality, and inadequate federal response to…
blog January 17, 2020
Why I’ve Joined the Fight for Tax Justice: Amy Hanauer

After years of watching tax policy increasingly leave communities behind, at ITEP I’ll have the chance to work with local, state and national partners on policy solutions. I’m prepared to push for a tax system that can better deliver economic, climate and racial justice; for a public sector that can prepare our kids and our grid for 2020 and beyond; and for an America that works for all of us, whether we were born in Nebraska or Hawaii, Detroit or Miami.
ITEP Work in Action January 15, 2020
Reforming Connecticut’s Tax System: A Program to Strengthen Working- and Middle-Class Families

Connecticut Voices for Children released a report that examined the state’s income and wealth inequality and the state’s regressive tax system that exacerbates these inequalities.
blog January 15, 2020
The 2013 Biden-McConnell “Fiscal Cliff” Deal Shows Why the Next President Needs a New Approach to Taxes

Americans have long wanted more progressive tax policies and have told pollsters for years that they want wealthy individuals and big corporations to pay more, not less, in taxes. The only way forward is for lawmakers and the next president to take a dramatically different approach to tax policy.
blog January 14, 2020
White House Council of Economic Advisers Crows about Lowest-Income Americans Being Infinitesimally “Wealthier”

When the White House Council of Economic Advisors last week tweeted that the poorest 50 percent of Americans’ wealth is growing 3 times faster than the wealth of the top 1 percent, we were skeptical. As it turns out, the CEA’s tweet is a reminder that the poorest 50 percent wealth grew twice as fast during Barack Obama’s second term than it has under Trump, but to this day remains far below its pre-recession share and significantly less than what it was 30 years ago.
blog January 13, 2020
Time to Throw Cucumbers

A basic understanding and idea of fairness is a trait we share with intelligent primates, which is precisely why more than two years ago as Congress was debating the Tax Cuts and Jobs Act, the American public disapproved of the tax bill.
blog January 7, 2020
Guilty, Not GILTI: Unclear Whether Corps Continue to Lower Their Tax Bills Via Tax Haven Abuse

President Trump and GOP lawmakers often cited corporations’ abuse of tax havens, e.g. shifting profits offshore to avoid taxes, as justification for dramatically lowering the federal corporate tax rate under…
January 7, 2020
Amy Hanauer

Amy Hanauer provides vision and leadership to bring accurate research and data to tax policy conversations. As Director, Amy raises resources, guides strategy, and works with the board and staff to make ITEP a critical part of the policy discussion around a stronger tax code. She brings nearly 30 years of experience working to create economic policy that advances social justice.
media mention January 6, 2020
Capital and Main: Two Years Later: What Has Trump’s Tax Law Delivered?

Promise: “We’re also going to eliminate tax breaks and complex loopholes taken advantage [of] by the wealthy.” – President Trump, November 29, 2017. Reality: The law kept tax loopholes in place and added new…
media mention January 3, 2020
Public News Service: Report: Many Big Companies Pay Nothing Under New Tax Law

HELENA, Mont. – During the first year of the Trump administration’s new tax law, 91 Fortune 500 companies didn’t pay a dime in federal income tax. That’s according to a new…
media mention January 3, 2020
Public News Service: Will WA Lawmakers Tackle Tax Fairness in 2020?

How can Washington state create a more just society in 2020? Two experts say the state should tax its way toward that goal. The Institute on Taxation and Economic Policy ranks…
media mention January 3, 2020
Common Dreams: Eight Ways the Trump-GOP Tax Cuts Have Made the Rich Richer While Failing Working Families

Within the Fortune 500, 91 profitable corporations—such as Amazon, FedEx, Netflix and General Motors—paid no U.S. corporate income taxes in 2018, according to the Institute on Taxation and Economic Policy. And…
media mention January 3, 2020
Mother Jones: Chevron Made $4.5 Billion in 2018. So Why Did the IRS Give Them a Refund?

The largest chunk of Chevron’s $1.1 billion in tax breaks came in the form of tax deferral, a longstanding tax instrument that enables businesses to postpone paying taxes until a…
media mention January 3, 2020
Modern Healthcare: Healthcare Industry Had Highest Federal Income Tax Rates in 2018

A big driver of the higher taxes in healthcare is a doomed Affordable Care Act fee on health insurers. The amount each insurer pays is based on premium revenue. President…
media mention January 3, 2020
Salon: Under Trump’s Tax Bill, Employees Pay Higher Rates Than Biggest Corporations in the World: Study

Workers at some of the biggest corporations in the world are paying higher tax rates than their employers, according to a new study by the Institute on Taxation and Economic…
media mention January 2, 2020
Workday Minnesota: Dozens of Big Businesses Avoided Corporate Taxes in 2018

Roque said corporate tax cuts and loopholes have been enacted by Congresses and presidents of both major parties for the past two decades. Champions of the new tax code argued…
media mention January 1, 2020
Los Angeles Times: Opinion: The Trump Tax Cut Has Amounted to Nothing but Broken Promises for the Middle Class

Thanks to loopholes and the cut itself, tax collections from corporations in the first year of the new law collapsed. ITEP found that the effective corporate tax rate for 379…

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