Alex Welch – Page 44

news release August 7, 2019
Leadership Transition Announcement

Notes from Alan Essig, Executive Director of the Institute on Taxation and Economic Policy and Citizens for Tax Justice, and Joan Entmacher, Board Chair of the Institute on Taxation and Economic Policy, and Ed Jayne, Board Chair of Citizens for Tax Justice, announcing leadership transition.
report August 7, 2019
Tax Cuts and Jobs Act: A Timeline

In December 2017, federal lawmakers hastily enacted the Tax Cuts and Jobs Act. So rushed was its passage that provisions of the legislative text were scrawled in the margins. Scroll through this timeline for an in-depth look at the Tax Cuts and Jobs Act and the impact since its passage.
blog August 2, 2019
Opportunity Zones Have Nothing to Do with Reparations, Except …

Among other things, this blog highlights how federal, state and local policies systematically work to reinforce the racial wealth gap by, for example, using the tax code to redistribute the nation’s wealth to billionaire developers and keeping low-income people of color in a perpetual cycle of debt through fines and fees to fund local governments. Opportunity zones and the top-heavy 2017 tax law are emblematic of a long history of policymaking that advantages wealthy white families.
map August 1, 2019
How Do Tax Rates on the Poor Compare to Taxes on the Rich in Your State?

No two state tax systems are the same, but 45 states have one thing in common: Low-income residents are taxed at a higher rate than the top 1 percent. Effective tax rates for the lowest 20 percent of families range from a high of 17.8 percent in Washington State to a low of 5.5 percent in Delaware.
blog July 31, 2019
A Wealth Tax Might Be Easier to Implement than You Think

A direct federal tax on wealth, as described in a January report from ITEP and proposed by Sen. Elizabeth Warren, could raise substantial revenue to make public investments, curb rising inequality, and is supported by a large majority of Americans. But would it work? Recent research highlighted in a new academic paper outlines approaches that would make it easier than you might think.
blog July 26, 2019
State Rundown 7/26: The Dog Days of Tax

OHIO legislators passed a budget with unfortunate income tax cuts for high-income households. Other states turned their attention to unconventional ideas during their legislative off-seasons, for better and for worse. And there are many gems to be found in our “What We’re Reading” section below, including new research on the racial inequities that continue to pervade our communities and schools.
July 26, 2019

We shouldn’t wait for Washington to tax the rich. We can begin at the state level. Examining the federal policy landscape is a logical place to start, but state policymakers…
brief July 26, 2019
Election 2020: Tax Policy Essentials

The nation’s tax policies and their role in economic inequality are front and center during this election cycle. For those interested in how the nation can move toward a fairer tax system and or more detailed information about progressive tax policy ideas, ITEP created this quick guide.
map July 26, 2019
Combined Reporting Lessens Corporate Tax Avoidance at State Level

“Combined reporting” lessens the effectiveness of a tax avoidance scheme known as income shifting, in which large multi-state corporations dubiously claim that their income was earned in states with little or no corporate income tax.
blog July 24, 2019
Legislation to Block Corporate Inversions Is Still Needed

If a future Congress and president enact a real tax reform, one that requires corporations to pay their fair share and ends TCJA’s various corporate breaks for offshore profits, then companies will use inversions and other tactics to dodge taxes once again—if lawmakers let them. That’s why any real tax reform will include something like the Stop Corporate Inversions Act, introduced last week by Sens. Dick Durbin and Jack Reed to block inversions.
blog July 18, 2019
Many States Move Toward Higher Taxes on the Rich; Lower Taxes on Poor People

Several states this year proposed or enacted tax policies that would require high-income households and/or businesses to pay more in taxes. After years of policymaking that slashed taxes for wealthy households and deprived states of revenue to adequately fund public services, this is a necessary and welcome reversal.
map July 17, 2019
Is Your State Holding Sales Tax Holidays in 2019?

Lawmakers in many states have enacted “sales tax holidays” (16 states will hold them in 2019), to provide a temporary break on paying the tax on purchases of clothing, school…
brief July 17, 2019
Sales Tax Holidays: An Ineffective Alternative to Real Sales Tax Reform

Lawmakers in many states have enacted “sales tax holidays” (16 states will hold them in 2019), to provide a temporary break on paying the tax on purchases of clothing, school supplies, and other items. While these holidays may seem to lessen the regressive impacts of the sales tax, their benefits are minimal. This policy brief looks at sales tax holidays as a tax reduction device.
news release July 17, 2019
Sales Tax Holidays Are Outdated Gimmicks That Have Run Their Course

Just as the very first sales tax holiday for car sales did not fix the auto industry’s challenges, providing consumers a temporary reprieve on sales tax will not address families’ pocketbook concerns.
ITEP Work in Action July 16, 2019
CommonWealth: Before the T Derailed, its Funding Got on the Wrong Track

Overall, funding for the Commonwealth during the last two decades has relied increasingly on sales taxes and regressive user fees, while cutting income tax rates. As a result, we have…
map July 12, 2019
Does Your State Levy Estate and Inheritance Taxes?

States have been repealing estate taxes since the early 2000s. Now, just 17 states and the District of Columbia (D.C.) levy estate and/or inheritance taxes. Twelve states and D.C. levy estate taxes while six states levy inheritance taxes (Maryland levies both). These taxes have long been used not just to raise revenue for vital public services, but to promote equality of opportunity and reduce the transfer of concentrated wealth from one generation to the next.
ITEP Work in Action July 11, 2019
Arizona Center for Economic Progress: Using Increased Revenues from Conformity on More Tax Cuts is Fiscally Irresponsible

Arizona Should Use Increased Revenues to Prepare for Next Recession Instead of Giving Tax Cuts While a recession does not appear imminent, the current economic expansion began in June 2009…
media mention July 11, 2019
MarketWatch: Here’s What 2020 Democratic Candidates Have Said About Universal Basic Income

Harris’s proposal would cost more than $270 billion in 2020, according to an estimate by the Washington, D.C.-based Institute on Taxation and Economic Policy. Read more
blog July 10, 2019
Missouri’s Creative Approach to Ending the “Race to the Bottom” in State Business Taxes

Each year, state and local governments spend billions of dollars on targeted tax incentives—special tax breaks ostensibly designed to encourage businesses to relocate, expand or simply stay where they are. A law enacted by the Missouri legislature creates a template for states to work bilaterally to put the brakes on the “race to the bottom” in state business taxes.
media mention July 7, 2019
Daily Progress: Opinion/Commentary: New IRS Rule Narrows Tax Loophole in Virginia

First, people and businesses making stock contributions, rather than cash, may still be able to profit from their donations through avoidance of capital gains taxes. A fix suggested by the…
media mention July 6, 2019
The Washington Post: States Are Doing It. So Why Hasn’t Congress Increased the Federal Gas Tax?

All told, 31 of the 50 states have raised or reformed their motor fuel taxes during the past decade, according to the Institute on Taxation and Economic Policy. What’s more,…
media mention July 5, 2019
Public News Service: Deadline Today for WA Initiative Requiring Voter Approval for Tax Increases

Taxes took center stage because of a finding that Washington has the most regressive tax code in the country. According to the Institute on Taxation and Economic Policy, people in…
media mention July 5, 2019
CT Mirror: Gasoline Taxes Are on the Rise — Just not in CT

Twelve states ordered gasoline tax hikes that took effect this week, according to the nonprofit Institute on Taxation and Economic Policy (ITEP). While many policymakers say fuel levies are on…
ITEP Work in Action July 3, 2019
The American Prospect: Without Congressional Input, Trump May Further Widen the Gap Between Rich and Poor

“This is just another tax break for rich people,” says Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economy Policy, who authored a blog post…
media mention July 3, 2019
Business Insider: Gas and Diesel Prices Rose at the Worst Possible Time for Drivers in the US and These States Are Being Affected Most

For some states, the gas tax increase has been long delayed. Some states have postponed this increase for several years due to the political challenges, Carl Davis, a research director…

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