Alex Welch – Page 39

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…
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.
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.
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…

ITEP's Research Priorities