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media mention December 31, 2019 VTDigger: Report: Vermont Economic Divide Is Growing Larger
Vermont taxes are relatively progressive, the report said, noting that the state was one of five singled out by the Institute on Taxation and Economic Policy in 2018 for systems… -
media mention December 30, 2019 Counter Point: Trump-GOP Tax Law Ushers in Lowest Corporate Tax Rates in 30 Years
Matthew Gardner reveals that “Fortune 500 companies Avoided $73.9 Billion in Tax Under First Year of Trump Tax Law.” Listen -
media mention December 27, 2019 The Hill: Opinion: It’s Time for the Senate to Advance Cannabis Banking Reform
According to data compiled by the Institute on Taxation and Economic Policy, tax revenues from adult-use marijuana sales in 2018 topped over $1 billion. Also, 33 states regulate the retail sale of… -
media mention December 26, 2019 MSNBC: The Last Work: The Trump Tax Cuts & Corporations
A new report has data on how the Trump tax cuts helped many profitable big companies pay less in federal income taxes- and some pay none at all. Pulitzer Prize-winning… -
media mention December 26, 2019 Public News Service: 91 Corporations Paid Zero Tax in First Year of New Code
LINCOLN, Neb. — 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, according to a new study by… -
media mention December 23, 2019 MSNBC: Two Years Later, the Republican Tax Plan Still Looks Like a Failure
Indeed, it was just a couple of weeks ago when the Institute on Taxation and Economic Policy released the results of a detailed study that found of the Fortune 500… -
media mention December 23, 2019 The Hill: Conservative Commentator Rips Trump’s Signature Tax Overhaul: ‘It Was a Big Mistake’
Conservative commentator Johnny Burtka ripped President Trump’s 2017 tax law in light of a new report that found that some of the most profitable companies in the U.S. didn’t pay any… -
media mention December 23, 2019 Bloomberg Law: Small Retailers Face More Marketplace Taxes This Holiday Season
Tax responsibilities tied to those sales will be noticeable this year: 28 states have added taxes on out-of-state sellers since last holiday season due to last year’s Wayfair decision, according… -
media mention December 23, 2019 Public News Service: Corporate Tax Avoidance Continues Under New Code
“These companies aren’t simply following the law; in many cases, they wrote the law,” Gardner said. “These corporate tax cuts were enacted because of a very aggressive lobbying strategy by… -
media mention December 22, 2019 The Hill: Two years in, Trump Tax Cuts Face Big Test with Reelection Bid
Several of the top Democratic presidential candidates this past week highlighted on Twitter and during Thursday’s debate a report from the left-leaning Institute on Taxation and Economic Policy that found that 91… -
media mention December 22, 2019 Quartz: Two Years into Trump’s Tax Cut, the Results Are Not Promising
Despite what the Democrats claimed, most people did actually pay less tax. But the wealthy got a far bigger cut than the rest of society, according to various studies. Next… -
media mention December 20, 2019 POLITICO: SALT as Spicy
Sen. Elizabeth Warren (D-Mass.) gave what seemed like a truncated stump speech in defense of her tax ideas, which center on the wealth tax, in response to a question about whether those… -
report December 19, 2019 Mayor Pete Buttigieg’s Proposed EITC Expansion
Mayor Pete Buttigieg’s proposal An Economic Agenda for American Families: Empowering Working and Middle Class Americans to Thrive would expand the Earned Income Tax Credit (EITC) as modeled by the Working Families Tax Relief Act.
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blog December 19, 2019 Corporate Tax Avoidance Is Mostly Legal—and That’s the Problem
As usual, corporate spokespersons and their allies are trying to push back against ITEP’s latest study showing that many corporations pay little or nothing in federal income taxes. One way they respond is by stating that everything they do is perfectly legal. This is an attempt by the corporate world to change the subject. The entire point of ITEP’s study is that Congress has allowed corporations to avoid paying taxes, and that this must change.
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ITEP Work in Action December 19, 2019 Center for American Progress: The TCJA 2 Years Later: Corporations, Not Workers, Are the Big Winners
Researchers at the Institute on Taxation and Economic Policy (ITEP) surveyed corporate financial reports for the first year that the TCJA was in effect and recently published their findings. Examining 379… -
media mention December 19, 2019 Washington Post: The Finance 202: Conservative Economists Say Trump’s Promises About His Tax Cuts Did Not Come True
A new report by the left-leaning Institute on Taxation and Economic Policy found 91 corporations in the Fortune 500 paid no federal taxes last year. And about 400 of the largest firms paid… -
media mention December 19, 2019 SegmentNext: Activision Taxes Were $0 In 2018, Gamers Paid $228 Million Instead
According to ITEP, some of the other companies that are avoiding income tax include Amazon, the energy company Chevron, Delta Airlines, General Motors, and many others. Activision is just one… -
media mention December 19, 2019 WTSP: Impeachment 101: Answering Your Questions on the Impeachment Process
QUESTION: How much money is the impeachment process costing taxpayers? ANSWER: We don’t know. There have been a handful of efforts to try and calculate the cost to taxpayers, but… -
media mention December 19, 2019 Roll Call: House Passes Restored ‘SALT’ Deduction Bill
It’s not just the White House and Republicans who were critical of the bill. Left-leaning groups including the Center for American Progress, Center on Budget and Policy Priorities and Institute… -
media mention December 19, 2019 Forbes: The Incredible Shrinking Corporate Tax Rate Continues to Hit New Lows for These Business Giants
Remember how the Tax Cuts and Jobs Act of 2017 lowered the corporate tax rate from 35% to 21% but was going to eliminate loopholes and workarounds to avoid being one giant giveaway… -
media mention December 19, 2019 Washington Post: House Narrowly Passes Bill That Would Restore SALT Tax Benefits to Higher-income Americans
“This mostly benefits rich people,” Steve Wamhoff, a tax analyst at the Institute on Taxation and Economic Policy (ITEP), a left-leaning think tank, said of repealing the SALT cap. “There’s… -
media mention December 18, 2019 Denton Daily: Amazon Will Pay $0 in Federal Taxes This Year — and It’s Partially Thanks to Trump
One reason for Amazon‘s nonexistent federal tax bill is the Tax Cuts and Jobs Act that Congress enacted in 2017, which lowered the statutory corporate tax rate from 35 percent… -
media mention December 18, 2019 Environmental Working Group: Duke Energy Paid Less Than Zero in Federal Taxes
In a new report on the impact of President Trump’s tax cuts, the Institute on Taxation and Economic Policy, or ITEP, said Duke Energy’s effective federal tax rate in 2018 was minus 21.4 percent… -
media mention December 18, 2019 NJ Biz: Four NJ Companies Paid $0 in 2018 Corporate Taxes, ITEP Report Finds
This week, the Institute on Taxation and Economic Policy released a report examining 2018 financial filings for 379 profitable Fortune 500 companies that year – the first full year since President… -
media mention December 18, 2019 CBS News: Hundreds of Companies Saw Tax Rate Plunge to 11.3% under Trump Tax Reform
The study, from the progressive Institute on Taxation and Economic Policy, reviewed financial filings for Fortune 500 companies, finding 379 corporations that reported profits in 2018 and that also provided…