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media mention March 7, 2023 Scripps News: How Billionaires and Corporations Avoid Taxes
Across the U.S., some of the nation’s top earners have a toolbox full of mechanisms to build wealth. Read more. -
ITEP Work in Action March 3, 2023 OpenSky Policy Institute: Policy Brief: Consumption Tax
The consumption tax proposal in LB 79 would require a rate of 22.1 percent to be revenue neutral, OpenSky analysis conducted with the Institute on Taxation and Economic Policy finds.… -
blog February 28, 2023 New Jersey, New York, and Connecticut Should Keep Corporate Taxes Strong, Extend Surcharges
At a time when corporations are seeing record profits while not paying their fair share of federal taxes, state corporate income taxes can and should play a role in raising sustainable revenue and adding progressivity to state tax codes. Right now, lawmakers in New Jersey, New York, and Connecticut have a unique opportunity to extend targeted tax changes that have raised billions of dollars from profitable corporations for meaningful public investments.
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blog February 28, 2023 Dear Ohio: Beware the Flat Tax
The flat tax plan and others being discussed that would cut even deeper would be windfalls for the wealthy, and expensive ones at that. Families with incomes over $300,000 per year, for example, could expect to gain, as a group, about a billion dollars annually under the flat tax plan. If you asked Ohio families about their top priorities for this legislative session, it’s a safe bet that very few of them would choose a billion-dollar tax cut for this group over funding for schools, parks, and infrastructure.
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media mention February 28, 2023 Wall Street Journal: New Jersey Is Latest State to Push Tax Relief Despite Economic Uncertainty
New Jersey Gov. Phil Murphy on Tuesday will propose another $2 billion in property-tax rebate checks as part of a $53 billion state budget, a state treasury official said, making it the… -
media mention February 27, 2023 New York Times: I.R.S. Decision Not to Tax Certain Payments Carries Fiscal Cost
More than 20 state governments, flush with cash from federal stimulus funds and a rebounding economy, shared their windfalls last year by sending residents one-time payments. This year, the Biden… -
media mention February 24, 2023 Washington Journal: Amy Hanauer on Federal Tax Policy and Revenue Collection
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media mention February 22, 2023 Kansas Reflector: Kansas Senate Flat Tax Would Cut $1 for Low-Wage Earners, Hand Windfall to Top 1%
A flat tax plan moving through the Senate is structured to provide minimal relief to low-income Kansans while granting a windfall to high wage earners. Read more. -
blog February 22, 2023 The Five Best Tax Ideas Coming from Governors This Year
The word “tax” appears 97 times and counting in one recent summary of governors’ addresses to state legislators so far this year. The policy visions that governors are bringing, however, vary enormously. While there’s good reason to worry about tax cuts for wealthy families and the flattening or elimination of income taxes, there are at least five great tax ideas coming directly out of governors’ offices this year.
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ITEP Work in Action February 16, 2023 Minnesota Budget Project: Governor Walz Releases FY 2024-25 Budget Priorities
The Walz administration’s recently released budget proposal names as their priorities making Minnesota the best state for children, investing in the state’s economic future, and promoting the health and safety… -
ITEP Work in Action February 16, 2023 Kansas Action for Children: Flat Tax: Simple Doesn’t Mean Smart
The state has seen increased revenue in recent years, with the state budget including millions of dollars in surplus revenue. The temporary, higher receipts have led to several tax cut… -
media mention February 15, 2023 Fortune: More Than Half of States are Considering Personal Income Tax Cuts This Year
State governments are still flush with cash from federal COVID-19 aid dollars and increased revenues. And more than half are considering using those budget surpluses to institute or accelerate tax… -
blog February 14, 2023 The No Tax Breaks for Outsourcing Act Is Needed More than Ever
The new corporate minimum tax enacted as part of last year’s Inflation Reduction Act will address some of the worst corporate tax dodging, but what else is needed? A group of Democrats have answered this question with the No Tax Breaks for Outsourcing Act.
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media mention February 13, 2023 Yahoo Finance: Stock Buybacks Have Surged in the Weeks Since Washington Began Taxing Them
A new excise tax on stock buybacks went into effect Jan. 1 and has been followed by what seems to be an unexpected development: corporate share repurchase announcements have exploded.… -
ITEP Work in Action February 13, 2023 Oklahoma Policy Institute: The Needs of Everyday Oklahomans Outweigh Tax Cuts that Benefit the Wealthy
As Oklahoma’s 2023 legislative session begins, the perennial push for tax cuts that would shrink state revenue will likely return. In 2022, leaders of the Oklahoma House of Representatives championed tax cuts – primarily… -
February 12, 2023 Michael Ettlinger
Michael is a senior fellow at the Institute on Taxation and Economic Policy. He is also a senior fellow with the Carsey School of Public Policy at the University of… -
media mention February 11, 2023 CBS News: States are Flush with Cash. It’s Setting Off ‘Tax Cut Fever.’
Even as the U.S. economy shows signs of slowing down, many states around the U.S. are flush with cash, with their so-called rainy day funds estimated to reach a record high of… -
blog February 9, 2023 Why the States Have a Major Role to Play If We Want Tax Justice
With fears of gridlock in a divided Washington, tax justice champions are building momentum in other places where there’s dire need for better tax policy: the states. We can upgrade communities across the country by making 2023 a year to win tax improvements in statehouses.
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media mention February 9, 2023 FiveThirtyEight: Congress’s U-Turn Has States Thinking About Giving Parents Cash
Last year, Congress walked away from what looked like one of the most effective fixes for child poverty in a generation. Now, state legislators are trying to walk it back. Lawmakers in… -
blog February 7, 2023 State of the Union Likely to Continue Progress on Tax Justice
After decades of Presidents who ran away from taxes, it’s a sea change to have a chief executive who understands that the rich should pay their fair share, extremely profitable corporations should pay their fair share, and the public sector should have revenue to invest in problems – like climate change and healthcare – that will only be solved with pathbreaking public action.
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media mention February 7, 2023 Wall Street Journal: Top GOP Tax Legislator Says He’ll Boost Workers, Probe Companies
Rep. Jason Smith (R., Mo.), the House’s new top tax writer, is promoting an approach he says would favor working-class Americans over large corporations, a shift in tone from his predecessors that… -
ITEP Work in Action February 6, 2023 The White House: Fact Sheet: The Biden Economic Plan Is Working
President Biden has long believed that we must build the economy from the bottom up and middle out, not the top down. … In 2020, 55 of the largest corporations that were… -
media mention February 2, 2023 States Newsroom: States Take Heat for Spending Federal Relief Funds on Tax Cuts, Prisons
As states plan how they’ll spend the $25 billion remaining in federal COVID relief funds, some also are facing criticism and renewed scrutiny over how they allocated money already received… -
ITEP Work in Action February 1, 2023 Hawaiʻi Budget & Policy Center: Closing the Capital Gains Loophole
Eliminating the preferential tax treatment of capital gains income will increase tax fairness and help fund our future. Read more. -
ITEP Work in Action January 31, 2023 New Jersey Policy Perspective: How an Expanded Child Tax Credit Would Help More Hard-Working New Jersey Families
Doubling the maximum credit amount would help hundreds of thousands of children and their families pay for basic needs. Read more.