Alex Welch – Page 69

ITEP Work in Action January 10, 2018
It’s All About the Context: A Closer Look at Arkansas’s Income Tax

The tax task force is rounding out its extensive review of the Arkansas tax code this week by looking at one of the most contentious tax topics these days: income taxes. So, are we a high-income-tax state or a low-income-tax state? In Arkansas, it depends a lot on how much money you make, and how you make it. For example, retirement income is exempt for the first $6,000; military retirement income is completely exempt; there are border-city exemptions if you work in Texarkana; and capital gains income from things like stocks or real estate sales is taxed much more leniently than wage income. To sort this all out, you have to look at the tax code as a whole.
ITEP Work in Action December 21, 2017
Kentucky Center for Economic Policy: Passage of the Dream Act Would Benefit Kentucky

The Institute on Taxation and Economic Policy (ITEP) estimates that 6,000 (formerly) DACA-eligible Kentuckians currently contribute a total of $8.1 million in local and state taxes annually through sales and…
ITEP Work in Action December 21, 2017
Policy Matters Ohio: Crackdown on Dreamers could cost Ohio millions

If DACA recipients stay in Ohio after losing work authorization they could earn lower wages and become less likely to file income tax returns. Without the Dream Act, Ohio can…
ITEP Work in Action December 20, 2017
Wisconsin Budget Project: Giving Young Immigrants a Pathway to Citizenship Would Boost Wisconsin’s Farm Economy

According to a new report from the Wisconsin Budget Project, passing the Dream Act and establishing a pathway to citizenship for immigrant youth would help Wisconsin farms and communities by:…
ITEP Work in Action December 20, 2017
Wisconsin Budget Project: Dream Act Would Boost Wisconsin Economy and Tax Revenues: Revoking DACA Hurts Both

There are 10,000 young immigrants potentially eligible for DACA who call Wisconsin home. They currently contribute a total of $16 million to local and state taxes annually through sales and…
ITEP Work in Action December 20, 2017
Michigan League for Public Policy: The benefits of Deferred Action for Childhood Arrivals (DACA) on immigrants in Michigan

Researchers at the Institute on Taxation and Economic Policy (ITEP) estimate that nationwide, DACA enrollees contribute $2 billion in state and local taxes each year. In Michigan, these young adults…
ITEP Work in Action December 20, 2017
New Jersey Policy Perspectives: Failure to Act on DACA and Dream Act Would Harm New Jersey’s Tax Revenues

There are 53,000 young immigrants who were potentially eligible for DACA that call New Jersey home. They have attended our public schools, graduated high school and many have enrolled in…
ITEP Work in Action December 20, 2017
Florida Policy Institute: Dream Act: What’s at Stake for Florida?

There are 72,000 young immigrants who were potentially eligible for DACA that call Florida home. They currently contribute a total of $78 million to local and state taxes annually through…
ITEP Work in Action December 20, 2017
The Commonwealth Institute: Dream Act Would Boost Virginia Families, Communities, State Economy, and Tax Revenues; Revoking DACA Hurts All

There are 30,000 young immigrants who were potentially eligible for DACA and call Virginia home. They currently contribute a total of $29.3 million to local and state taxes annually through…
ITEP Work in Action December 20, 2017
NC Policy Watch: Devastating consequences if Congress fails to replace DACA in three months

State and local government coffers would also take a hit if Congress fails to pass the Dream Act, or another effective solution. The Institute for Taxation and Economic Policy estimates…
ITEP Work in Action December 18, 2017
Center for Public Policy Priorities: The National Dream Act: What’s at stake for Texas?

Researchers estimate that approximately 177,000 young Texas immigrants are potentially eligible for DACA, and they currently contribute a total of $241 million to local and state taxes annually through sales…
ITEP Work in Action December 18, 2017
Minnesota Budget Project: 4 Reasons DACA should be restored ASAP

DACA results in increased economic activity in our communities and increased tax revenues. DACA recipients in Minnesota contribute an estimated $15 million in state and local taxes annually. Read more…
blog December 18, 2017
Corker Claims Provisions Benefiting Him Could Not Have Changed His Vote Because He Never Read the Bill

Many Republicans who had previously claimed to be deficit hawks have been cheerfully supportive of major tax-cutting legislation as it has moved forward this fall. But one Republican Senator, Bob Corker of Tennessee, has taken a defiant stance on the issue, insisting that “passing off increased debt to future generations” would be a deal-breaker for him. When the Senate passed its version of the tax plan last week, Corker was the only Republican to vote No.
blog December 17, 2017
Final GOP-Trump Bill Still Forces California and New York to Shoulder a Larger Share of Federal Taxes Under Final GOP-Trump Tax Bill; Texas, Florida, and Other States Will Pay Less

Residents of California and New York pay a large amount of the nation’s federal personal income taxes relative to their share of the population. As illustrated by the table below, the final GOP-Trump tax bill expected to be approved this week would substantially increase the share of total federal personal income taxes (PIT) paid by both states. Connecticut, Maryland, Massachusetts, and New Jersey would also see their share of federal PIT increase.
blog December 15, 2017
GOP Leaders Scrounge Up Money to Lower Top Tax Rate for the Rich But Not to Help Low-Income Working Families with Children

Republican leaders who rejected a proposal to have corporations pay a single percentage point higher tax rate to benefit families with children have tapped the exact same source of savings to provide more breaks for the richest 1 percent of taxpayers. The table below compares the number and share of households nationally and in all 50-states who would benefit from the proposal to reduce taxes for working families with children versus the ”compromise” to cut the top individual tax rate — below either the House or Senate version – to 37 percent for couples with incomes above $1 million.
blog December 13, 2017
All I Want for Christmas is a Clean DREAM Act

As 2017 draws to close, Congress has yet to take legislative action to protect Dreamers. The young undocumented immigrants who were brought to the United States as children, and are largely working or in school, were protected by President Obama’s 2012 executive action, Deferred Action for Childhood Arrivals (DACA). But in September, President Trump announced that he would end DACA in March 2018. Instead of honoring the work authorizations and protection from deportation that currently shields more than 685,000 young people, President Trump punted their lives and livelihood to a woefully divided Congress which is expected to take up legislation to address the issue this month.
December 13, 2017
Updated Tax Contributions of Young Undocumented Immigrants

In September 2017, US Citizenship and Immigration Services released updated enrollment data for the program Deferred Action for Childhood Arrivals (DACA). The updated data included estimates of the number of former DACA enrollees that were now legal permanent residents and those that failed to reapply or their reapplication was denied. The table below provides updated estimates of their tax contributions.
blog December 7, 2017
Charitable, Property Tax, and Mortgage Interest Deductions Would Be Wiped Out for Two-Thirds of Current Claimants Under Congressional Tax Plans

In the ongoing debate over major federal tax legislation, there is significant focus on how House and Senate bills would eliminate the deduction for state income tax payments and cap the deduction for property taxes at $10,000 per year. At the same time, tax writers have retained deductions for charitable gifts and mortgage interest with what appear to be comparatively minor changes, at least at first glance.
ITEP Work in Action December 1, 2017
Fiscal Policy Institute: Dream Act: What’s At Stake for New York

There are 76,000 young immigrants who were potentially eligible for DACA that call New York home. They currently contribute a total of $115 million to local and state taxes annually…
blog November 30, 2017
A Corporate Tax Cut Would Benefit Coastal Investors, Not the Heartland

The centerpiece of the House and Senate tax plans is a major tax cut for profitable corporations that the American public does not want, and that will overwhelmingly benefit a small number of wealthy investors living in traditionally “blue” states. New ITEP research shows that poorer states such as West Virginia, Oklahoma, Alabama, and Tennessee would be largely left behind by a corporate tax cut, while the lion’s share of the benefits would remain with a relatively small number of wealthy investors who tend to be concentrated in larger cities near the nation’s coasts.
report November 29, 2017
Six More Things to Know About the Senate Tax Plan

A recent ITEP study concluded that the tax bill before the Senate would raise taxes on at least 29 percent of Americans and cause the populations of 19 states to pay more in federal taxes in 2027 than they do today, while providing foreign investors with more benefits than American households. This report delves deeper by breaking out impacts of different components of the Senate tax plan on U.S. taxpayers in 2019 and 2027. This approach leads to several conclusions.
ITEP Work in Action November 21, 2017
Senate Tax Plan Harms Low- and Middle-Income Kentuckians to Pay for Giveaways to Those at the Top

Senators will return to Capitol Hill next week after the Thanksgiving recess for a potential vote on their revised plan. According to estimates from the Institute on Taxation and Economic Policy (ITEP), the bottom 60 percent of Kentuckians, who make an average of $37,500 a year, will actually face more taxes from the plan with an average increase of $80 in 2027.
November 18, 2017
How the Revised Senate Tax Bill Will Affect North Dakota Residents’ Federal Taxes

Updated November 18, 2017 The revised Senate tax plan approved by the Finance Committee on November 16th would raise taxes on many low- and middle-income families while bestowing immense benefits on…
ITEP Work in Action November 14, 2017
Arizona Center for Economic Progress: Just Like the House GOP Plan, the Senate GOP Tax Plan Is Another Handout to the Wealthiest Households and Large Corporations

Newly published data shows that the new Senate GOP tax plan isn’t much better than the House GOP tax plan for the middle-class, small businesses, and lower-income Americans. The Institute…
blog November 13, 2017
House Tax Bill Would Put Property Tax Deduction Out of Reach for Most Households

The House of Representatives is expected to vote this week on a bill that would reduce federal revenues by roughly $1.5 trillion over the next decade. Despite the bill’s high…

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