New Hampshire Fiscal Policy Institute: Households with High Incomes Disproportionately Benefit from Interest and Dividends Tax Repeal

March 30, 2023

New analyses of the elimination of New Hampshire’s Interest and Dividends Tax show that the reduction in tax revenue disproportionately benefits individuals and households with high incomes while significantly reducing revenues available for public services. Read more.

Maine Center for Economic Policy: Impacts of Proposed Income Tax Rate Reduction

March 30, 2023

House and Senate Republicans are demanding income tax cuts be part of the budget, and Democrats in the legislature were right to make sure they didn’t have the tools to threaten a state shutdown to get them. As the legislature prepares to pass a current services budget to avoid a stalemate in June that could […]

Time: No One Is Talking About What Ron DeSantis Has Actually Done to Florida

March 29, 2023

Media coverage of Florida Gov. Ron DeSantis’s all-but-announced candidacy for president is already in full frenzy, and so far the script is exactly as his handlers would like it to be. Read more.

Oregon Center for Public Policy: How to Pay (PAE) for It? Enact Complete Reporting

March 29, 2023

Making Oregonians more economically secure requires investing in our well-being: housing, education, child care, and more. One fair way to pay for these investments is to fight corporate tax avoidance by enacting complete reporting. Read more.

OpenSky Policy Institute Webinar: Data Shows Child Tax Credits Benefit Hardworking Families

March 27, 2023

New evidence on child tax credits at the federal level has shown “stunning” results in lifting children out of poverty throughout the country and a state-level policy could continue that momentum, benefiting a broad range of families, panelists including ITEP State Policy Director Aidan Davis said in a February 8 webinar.

Washington State Supreme Court: Opinion Upholding Capital Gains Excise Tax

March 24, 2023

In 2021, the Washington Legislature enacted a capital gains tax, levied at a rate of seven percent on the sale or exchange of certain long-term capital assets. Read more. (See pages 4 and 11 for ITEP citations)

Deseret News: Biden Wants to ‘Tax the Rich.’ Does a Tax Hike Make Sense?

March 23, 2023

The U.S. had about 720 billionaires at the start of his presidency, President Joe Biden said in his State of the Union speech. “Now we have about 1,000,” he said. He went on to unveil his administration’s proposal to increase taxes on wealthy Americans — to include millionaires and billionaires — to fund other government […]

Massachussets Budget & Policy Center: Taking Measure of the Governor’s Tax Plan

March 21, 2023

Governor Healey’s tax relief proposal would reduce state revenue available for future investments by $986 million annually. Three proposed tax credits would be progressive, meaning the benefits for lower-income households would be a larger percent of their income than the benefits for higher-income houseolds..1 The Governor also proposes two highly regressive tax cuts, meaning richer, higher-income households would receive […]

Policy Matters Ohio: Testimony on HB 1 Before the House Ways and Means Committee

March 15, 2023

This bill proposes a substantial rewriting of Ohio’s property and personal income taxes. It is an overly complicated, poorly designed bill that does not achieve what the sponsor claimed it would. It represents a massive wealth transfer from Ohio’s communities to a wealthy few. It is based on unsound economic reasoning and, if passed, it […]

Kansas Legislators’ War on the Poor Opens Worrisome New Front: School Vouchers and Tax Avoidance

March 13, 2023

Kansas legislative leaders have declared war on the poor. They have pushed bills penalizing those receiving government assistance through the House Welfare Reform Committee. They have advocated a flat tax plan that benefits the wealthy at the expense of everyone else. We have watched these proposals unfold in recent weeks, watched and heard the disdain. Yet the war has […]

Vox: Biden’s Plan to Tax the Rich, Explained

March 10, 2023

Billionaires in the US pay a tiny proportion of the wealth they accrue in taxes compared to the cut ordinary Americans pay from their wages. Now, President Joe Biden wants that to change: His just-unveiled budget for fiscal year 2024 contains a tapestry of tax hikes with a laser-beam focus on billionaires, multi-millionaires, and large corporations, all aiming to […]

MarketWatch: Biden’s Tax Hikes for the Rich are Unlikely to Pass. The Bigger Debate: Trump-era Tax Cuts that End in 2025.

March 10, 2023

For five years, most Americans have seen lower income-tax rates and tapped a bigger standard deduction, but without congressional action before the end of 2025, the rules could still revert to levels set long before the pandemic blindsided households and inflation raged. Read more.

Louisiana Illuminator: Private School Tax Credit is a ‘Charitable Facade’ for the Rich, Study Says

March 9, 2023

A new study found that Louisiana’s private school voucher tax credit is siphoning money from public education and serving as a tax shelter for the wealthy rather than encouraging charitable donations. Read more.

Los Angeles Times: Wall Street Journal Tells Us to Weep for the Plight of the Very, Very Rich

March 8, 2023

Coverage of the richest Americans in publications aimed at their tax bracket tend to fall into two genres. One is stories claiming that income well into six figures doesn’t make them really “rich.” The other involves hand-wringing and whining about their (purportedly) ruinous tax bills. An editorial last week in the (of course) Wall Street Journal may […]

The Why: Matt Gardner on Corporate Tax Avoidance

March 7, 2023

CNBC: State Tax Rates Are Not Central to Migration Patterns

March 7, 2023

Read more.