4,362 posts
Video: President Biden Cites ITEP’s Data on Corporate Tax Avoidance at the State of the Union
• By ITEP Staff
From the State of the Union on March 7, 2024
Video: Rep. David Trone Discusses Corporate Tax Avoidance at House Budget Committee Hearing
• By ITEP Staff
His remarks were at a March 21, 2024 House Budget Committee hearing on President Biden’s proposed budget.
Biden Is Right: Corporate Tax Avoidance Has Big Problems That We Can Fix
• By Jon Whiten
Sensible reforms to the corporate tax system can help both crack down on corporate tax avoidance and ensure companies that are flourishing are paying their share for the public infrastructure that forms the building blocks of their success.
The Estate Tax Should Help to Level the Playing Field. Instead it’s Letting the Rich Get Richer.
• By Amy Hanauer
The federal estate tax should ensure that family dynasties who’ve amassed enormous fortunes pay their fair share in taxes. But because policymakers have repeatedly doubled and tripled the immense sums that can be passed on before the tax kicks in, the estate tax today affects almost no one.
States Move to Tax the Top in 2024
• By Marco Guzman, Miles Trinidad
These forward-thinking states are demonstrating the wide variety of options for policymakers who want to raise more from the wealthiest people, rein in corporate tax avoidance, create fair tax codes and build strong communities.
As Chicago Nears Vote on Mansion Tax, New ITEP Brief Looks at This Increasingly Popular Policy
• By ITEP Staff
Contact: Jon Whiten (jon@itep.org) Chicago voters will on Tuesday decide whether to levy a higher real estate transfer tax on properties sold for more than $1 million to help fight homelessness. Regardless of the outcome in the Windy City, these “mansion taxes” are increasingly popular with local policymakers who are seeking innovative and progressive ways […]
Vermont Lt. Gov David Zuckerman: Fair Share
• By ITEP Staff
Today, I have an exceptionally important topic to talk about: taxes! Taxes have become a dirty word, and in many ways for good reason. Since the 1980’s there has been a significant shift in how much everyday people pay in taxes. Wealthy and high-income individuals have seen their marginal tax rates drop precipitously, while working […]
ITEP Statement & Resources: Tax Fairness and The State of the Union
• By ITEP Staff
When it comes to tax fairness, President Biden has a clear and compelling vision. Make large, profitable corporations and the wealthy pay their share, reduce taxes on low-income and working families with robust refundable tax credits, and use the trillions of dollars in new resources to create the kind of America we all want to see.
The White House Fact Sheet: President Biden Is Fighting to Reduce the Deficit, Cut Taxes for Working Families, and Invest in America by Making Big Corporations and the Wealthy Pay Their Fair Share
• By ITEP Staff
President Biden is fighting to make the tax system fairer while Republicans continue to push tax cuts for the wealthy and big corporations. The President’s plan delivers tax cuts for families with children and working Americans, invests in America, and reduces deficits by trillions of dollars by enacting a new billionaire minimum tax and cracking […]
Washington Post: Biden: Ban Deductions for Firms Paying Executives More Than $1 Million
March 7, 2024
President Biden will call for blocking corporations from deducting the costs of paying salaries over $1 million from their federal taxes in Thursday night’s State of the Union address, part of populist-oriented tax proposals in the speech as the 2024 campaign kicks off in earnest. Read more.
ITEP’s Kamolika Das Testifies on Pennsylvania’s Upside-Down Tax Code
• By Kamolika Das
Below is written testimony delivered by ITEP Local Policy Director Kamolika Das before the Pennsylvania House Finance Subcommittee on Tax Modernization & Reform on March 1, 2024. Good afternoon and thank you for this opportunity to testify. My name is Kamolika Das, I live in South Philly, and I’m the Local Tax Policy Director at […]
New Study: Corporate Tax Avoidance Remains Widespread Under Trump Tax Law
• By ITEP Staff
Contact: Jon Whiten (jon@itep.org) The tax overhaul signed into law by former President Donald Trump in 2017 cut the federal corporate income tax rate from 35 percent to 21 percent, but during the first five years it has been in effect, most profitable corporations paid considerably less than that. The details are explored in a […]
Tax Policy to Reduce Racial Retirement Wealth Inequality
• By Brakeyshia Samms, Carl Davis
Historic and ongoing discrimination have created stark racial disparities in the US, and the racial retirement wealth gap is one such example.
The Hill: House Panel Advances Tax Deal with Resounding Bipartisan Vote
January 20, 2024
A deal to reduce taxes for businesses and increase the child tax credit (CTC) made it out of the House Ways and Means Committee with broad bipartisan support Friday. Read more.
New York Times: What’s in the New Tax Deal?
January 19, 2024
Lawmakers on the House Ways and Means Committee will attempt a rare feat on Friday when they begin debate on something that rarely comes together in an election year: bipartisan tax legislation. Read more.
How the Fairness of State Tax Codes Affects Public Education
• By Carl Davis
The findings of Who Pays? go a long way toward explaining why so many states are failing to raise the amount of revenue needed to provide full and robust support for our public schools.
Associated Press: GOP Lawmakers, Democratic Governor in Kansas Fighting Again Over Income Tax Cuts
January 18, 2024
Top Republican legislators in Kansas have renewed a fight with the Democratic governor over income tax cuts that have drawn bipartisan criticism as favoring the wealthy, with no sign of a break in an impasse that thwarted tax relief last year. Read more.
Worthwhile Ideas for a Stronger and Fairer D.C. Tax Code
• By Andrew Boardman, Kamolika Das, Marco Guzman
The nation’s capital has a once-in-a-decade opportunity to advance a stronger and fairer local tax code. New draft recommendations from a key advisory panel will help leaders make the most of the moment.
Yahoo Finance: Lawmakers Ink a Bipartisan Tax Deal to Expand the Child Tax Credit
January 17, 2024
A powerful bipartisan duo announced a significant tax deal Tuesday that would combine a temporary expansion of the child tax credit with long-sought provisions for the business world. Read more.
Ring of Fire: You’ll Be Sick When You Find Out How Little The Top 1% Are Paying In Taxes
January 17, 2024
In 41 states across the country – and yes, that includes plenty of Democrat-controlled states – the tax rates for the top 1% of income earners and corporations are actually LOWER than the tax rates for EVERY OTHER income group. Read more.
Axios: Bipartisan Deal Would Expand Child Tax Credit, Lift Half-Million Children Out of Poverty
January 17, 2024
Congressional committee chairs reached a deal Tuesday that would expand the federal child tax credit, after three years of pushing by Democrats and progressives. Read more.
Testimony of Prosperity Indiana’s Andrew Bradley Before the Indiana State and Local Tax Review Task Force
• By ITEP Staff
On January 10, Andrew Bradley, Policy Director at Prosperity Indiana, testified before the State and Local Tax Review Task Force of the Indiana General Assembly. During his presentation, Bradley highlighted Prosperity Indiana’s tax policy priorities and ITEP’s Who Pays? findings. To watch the video, click here (Bradley’s testimony begins at 1:55:40) To read written testimony […]
ITEP Statement on Federal Tax Deal on Child Tax Credit, Business Tax Breaks
• By ITEP Staff
Child poverty is a problem. Corporations paying too much in taxes is not. Unfortunately, many members of Congress have refused to direct resources to help children in poverty unless an equal amount of resources is simultaneously directed towards corporate tax cuts.
Video: The Young Turks Explains Upside-Down State Tax Codes
January 16, 2024
An analysis by the Institute on Taxation and Economic Policy (ITEP) show that lower and middle class citizens are paying way a higher tax rate their rich counterparts. Rayyvana, David Shuster and Wosny Lambre discuss on The Young Turks. Read more.
New Mexico Taxation and Revenue Department: New Mexico Among Top 10 for Tax Equity
• By ITEP Staff
New Mexico is now among the top 10 states for most equitable tax structures thanks mostly to changes signed into law by Gov. Michelle Lujan Grisham over the past five years, according to a new report by the Institute on Taxation and Economic Policy (ITEP). Read more.
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