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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… -
media mention December 18, 2019 Common Dreams: New Report Details How Trump Tax Scam ‘Delivered Big Benefits to the Rich and Corporations But Nearly None for Working Families’
Still Terrible at Two was published just a day after the Institute on Taxation and Economic Policy released a new report which found that more than 90 U.S. corporations on the… -
blog December 18, 2019 For the Holiday Wishlist: Child Tax Credit Improvements That Would Lift Millions Out of Poverty
A recent New York Times article serves as a stark reminder that child poverty remains a persistent problem in this country and that the policies we have in place to help this vulnerable population need immediate attention and improvement.
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blog December 18, 2019 Why Corporate Tax Avoidance Matters
Corporate tax avoidance boosts companies’ bottom lines, and this benefits the owners of corporate stocks, which are mostly concentrated in the hands of the well-off. The cost of corporate tax dodging is borne by everyone, in several different ways.
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media mention December 17, 2019 Bloomberg Tax: HILL TAX BRIEFING: Extenders, Tax Law Fixes Make Year-End Deal
Corporate Tax Bills: Profitable U.S. companies in 2018 paid an average effective tax rate of 11.3%, far lower than the statutory 21% rate, according to a report released yesterday by the Institute on… -
media mention December 17, 2019 Democracy Now!: Report: 91 Fortune 500 Companies Effectively Paid No Federal Taxes in 2018
A new study reveals how 91 of the Fortune 500 companies effectively paid no federal taxes in 2018. The study by the Institute on Taxation and Economic Policy shows how… -
media mention December 17, 2019 Bloomberg Tax: Tax Perk to Boost Investment May Work—For Small Businesses
The 2017 tax law allowed businesses to use full expensing, or 100% bonus depreciation, for both new and used assets, a benefit that begins phasing out in 2023. Republicans heralded… -
media mention December 16, 2019 Washington Examiner: Amazon, Netflix, and Starbucks Paid $0 in 2018 Federal Income Taxes
A new study by the Institute on Taxation and Economic Policy found that many of America’s largest corporations paid $0 in federal income taxes under the first year of President Trump’s tax… -
media mention December 16, 2019 Yahoo Finance: 91 Profitable Fortune 500 Companies Paid $0 in Taxes in 2018 under Trump’s Tax Law
Matthew Gardner, senior fellow at ITEP and lead author of the report says that what companies doing is “entirely legal”, but that they can avoid paying taxes thanks to tax… -
media mention December 16, 2019 Des Moines Register: Richest Iowans Saw Most of the Benefit from 2017 Tax Cuts, Study Finds
No group in Iowa benefits more from the 2017 federal tax cuts than the wealthiest 1%, according to a new research paper from the left-leaning Iowa Policy Project. With an…