Alex Welch – Page 46

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…
map July 3, 2019
Which States Have the Highest Tax Rates for Low-income People?

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. This map shows the effective tax rates for the lowest-income 20 percent in each state–ranging from a high of 17.8 percent in Washington to a low of 5.5 percent in Delaware.
media mention July 2, 2019
Pacific Standard: Developers Aren’t Reporting How They’re Using Tax Incentives Meant for Low-Income Areas

Even for those who have tracked the bill closely, the reporting process remains opaque. “This bill was thrown together so incredibly quickly—there weren’t hearings on it, these types of questions…
media mention July 2, 2019
The Wall Street Journal: From Gas Taxes to Vaping Rules, New State Laws Take Effect Across U.S.

Drivers in a number of states will now pay higher taxes on gas as part of a broader push to fund infrastructure improvements. In Illinois, the gas tax has doubled…
blog July 1, 2019
ITEP Summer Reading (and Watching) List

Mercury is rising, presidential primary debates are underway and most state legislative sessions have adjourned for summer. Whether you’re curling up with a good book (or your favorite e-Reader) or looking for a new television show to binge-watch, check out these recommendations on ITEP’s Summer Reading (and Watching) List.
media mention July 1, 2019
Bloomberg: Horse Racing Tax Credit Backers Not Deterred by House Setback

Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, said there are sensible reasons to ask whether these tax breaks are more generous than they should…
media mention July 1, 2019
Nevada Business: Taxes and Nevada: The Give and Take

Many of those breaks and loop holes were left in place by the new policies, said Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic…
media mention July 1, 2019
Bloomberg: Gas Tax Hike Takes Effect in Five States This Month

All state gas taxes are tacked onto the federal government’s 18.4 cent-per-gallon levy, according to the Institute on Taxation and Economic Policy. Read more
blog July 1, 2019
Gaps in Sales Tax Collection Linger at Amazon.com and Among Other E-Retailers

The last few years have brought big changes to sales tax collection for purchases made at Amazon.com and other e-retail websites. As recently as 2011, Amazon was only collecting sales tax on its direct sales in five states – a fact that gave the company a competitive edge over brick and mortar stores during a critical time in its growth. Today, Amazon is collecting state-level sales taxes on all its direct sales, but it still usually fails to collect sales tax on the large volume of sales it makes through the “Amazon Marketplace.” This points to a broader problem in state tax enforcement that lawmakers should move quickly to address.
blog June 28, 2019
Why Trump Administration’s Plan to Index Capital Gains to Inflation Is Just Another Giveaway to the Wealthy

The White House is reported to be planning to unilaterally adjust the way capital gains are assessed to benefit the wealthiest Americans. The proposal would adjust capital gains for inflation, reducing taxes disproportionately for the wealthiest households who own most assets by limiting their taxable gains to those above and beyond the inflation rate.
blog June 27, 2019
ICYMI: A Brief Summary of Our June Blogs and Reports

A summary of ITEP reports, analyses and blogs this month.
blog June 27, 2019
Wealth Tax Is Supported by Basically Everyone Who Is Not a Politician

A February survey found that 61 percent of registered voters supported a wealth tax proposal, including 51 percent of Republican voters. And it’s not just the non-rich wanting to tax the very rich. A June survey found that 60 percent of millionaires support the idea.
news release June 27, 2019
Travelers in 12 States Will Pay More in Gas Taxes Beginning Monday

Drivers in 12 states who hit the road during this summer driving season will be paying more in gas tax beginning Monday, July 1.

While the federal gas tax has remained stagnant for nearly 26 years, many states have stepped up and increased their taxes so they can raise revenue to fund infrastructure and other projects. California, Indiana, Maryland, Michigan, Montana, Nebraska, Ohio, Rhode Island, South Carolina, Tennessee and Vermont all will raise their gas taxes.
blog June 27, 2019
Gas Taxes Rise in a Dozen States, Including an Historic Increase in Illinois

On July 1, 12 states will boost their gasoline taxes and 11 will boost their diesel taxes. The reasons for these increases vary, but they’re generally intended to fund maintenance and improvement of our nation’s transportation infrastructure–a job at which Congress has not excelled in recent years.
map June 27, 2019
Has Your State Enacted Gas Tax Reform Recently?

Gas taxes are the most important revenue source that states have available to pay for transportation infrastructure. In recent years, state lawmakers across the country have increasingly agreed that gas taxes must be increased to fund the maintenance and improvement of their infrastructure networks.
blog June 27, 2019
Most States Have Raised Gas Taxes in Recent Years

Ohio now enjoys the distinction of being the 30th state to raise or reform its gas tax this decade, and the third state to do so this year, under a bill signed into law by Gov. Mike DeWine. While state tax policy can be a contentious topic, there has been a remarkable level of agreement on the gasoline tax. Increasingly, state lawmakers are deciding that outdated gas taxes need to be raised and reformed to fund infrastructure projects that are vital to their economies. These actions are helping reverse losses in gas tax purchasing power caused by rising construction costs and improvements in vehicle fuel efficiency.
brief June 27, 2019
Most Americans Live in States with Variable-Rate Gas Taxes

The flawed design of federal and state gasoline taxes has made it exceedingly difficult to raise adequate funds to maintain the nation’s transportation infrastructure. Twenty-eight states and the federal government levy fixed-rate gas taxes where the tax rate does not change even when the cost of infrastructure materials rises or when drivers purchase more fuel-efficient vehicles and pay less in gas tax. The federal government’s 18.4-cent gas tax, for example, has not increased in over 25 years. Many states have waited a decade or more since last raising their own gas tax rates.
blog June 26, 2019
Rep. Tlaib’s Tax Credit Proposal Is Most Expansive to Date

A refundable tax credit proposed by Rep. Rashida Tlaib (D-MI) would be more expansive than other recent tax credit proposals, new estimates from ITEP show. Rep. Tlaib’s proposal, unlike others, does not require households to work to receive the benefit.
report June 25, 2019
BOOST Act

The BOOST Act would provide a new tax credit of up to $3,000 for single people and up to $6,000 for married couples, which would be in addition to existing tax credits. Income limits would prevent well-off households from receiving the credit. Unlike other refundable tax credit proposals, the BOOST Act would not be limited to people with earnings or people with children.
blog June 25, 2019
What to Watch for on Tax Policy During the Presidential Primary

America needs a new tax code. The Democratic presidential debates beginning this week present an opportunity for candidates to make clear how they would address inequality or to raise enough revenue to make public investments that make the economy work for everyone. Here are some of the big tax issues that we hope they will touch on.

ITEP's Research Priorities