Alex Welch – Page 39

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…
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…

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