The bipartisan duo of Sens. Kyrsten Sinema and John Thune helped private equity firms escape tens of billions of dollars in potential tax increases and instead walk away with relief…
Inside the Internal Revenue Service, which is on the brink of a major funding infusion that Democrats and agency workers say is badly needed to boost efficiency and revenues, staffers…
One last-minute addition to the IRA received relatively little attention, and it could stand to be one of the most transformative policies in the bill. Read more.
Following House Democrats’ passage of the Inflation Reduction Act on Friday, progressives applauded the most significant changes to the federal tax code since 2017, when Republicans’ highly regressive and deeply unpopular Tax Cuts…
Senate Democrats agreed Sunday to protect firms owned by the private equity industry from a new minimum tax on billion-dollar corporations, bowing to pressure from Sen. Kyrsten Sinema (D-Ariz.), who…
Progressive Democrats have been grousing for what seems like eons about the fact that some of the nation’s wealthiest corporations avoid paying their fair share in taxes. This weekend, the…
The budget reconciliation bill just passed by the Senate and heading for final congressional approval offers dramatic improvements in American policies aimed at fighting global warming and improving healthcare. Read more.
The House is expected to approve the Inflation Reduction Act on Friday that includes a minimum tax rate of 15 percent on highly profitable companies — a levy that could hit…
The Inflation Reduction Act requires certain large corporations to pay a minimum income tax of 15% and a 1% tax on stock buybacks. The bill also allocates an additional $80…
Over that period the company paid $1.9 billion in U.S. corporate income taxes, according to a 2021 analysis by the Institute on Taxation and Economic Policy. Those payments gave Amazon…
“That’s logical from any individual state’s perspective, but in the big national scheme of things, it’s hard to see how this is a good thing,” said Carl Davis, research director…
Last year, sales tax holidays cost states and local governments more than $550 million in lost revenue—that’s according to an Institute on Taxation and Economic Policy (ITEP) survey of cost…
Below is an excerpt of a letter to the editor by Aidan Davis: The overarching theme that ties most of them together is that they are a default reaction among…
Between 2014 and 2018, Bezos reported $4.22 billion income and paid $973 million in taxes. In that period, the Amazon founder and then-CEO’s wealth grew by $99 billion, according to…
A report earlier this year said Amazon avoided paying about $5.2 billion in corporate income taxes in 2021 as it reported record profits. The report by the Institute on Taxation and…
Another analysis, from the left-leaning Institute on Taxation and Economic Policy think tank, tested a different hypothetical policy that would satisfy Scott’s proposal to have all Americans pay some income…
“That’s a fair trade,” said Frank Clemente, executive director of Americans for Tax Fairness, a left-leaning group that has along with the Institute on Taxation and Economic Policy voiced opposition…
A majority of the states that legalized recreational marijuana for recreational use are collecting more tax revenue from pot sales than alcohol sales. The first two states to legalize pot…
The progressive Institute on Taxation and Economic Policy followed up with a post shortly thereafter, calling it an “incredible reversal” that Democrats would consider a net corporate tax cut in…
The Institute on Taxation and Economic Policy recently reported that Amazon “avoided” about $5.2 billion in corporate federal income taxes in 2021 while reporting record profits of more than $35…
The report, from the Institute on Taxation and Economic Policy, found the 11 states where marijuana is legal pulled in just shy of $3 billion in excise taxes on pot…
“If you look at Musk’s ‘income’ as defined by our tax code, you see that the guy is really rich, but not rich enough to buy Twitter,” Steve Wamhoff, the…
Taxes on the sale of marijuana are now producing more revenue than taxes on alcohol in the 11 states that legalized commerce in the drug, according to an analysis by…
As if COVID-19 hasn’t been hard enough on cities, a new report from the Institute on Taxation and Economic Policy (ITEP) raises another worry—lost tax revenues from a weak office…
But it’s the lowest wage earners who would pay more taxes, according to the Institute on Taxation and Economic Policy. The nonpartisan Tax Policy Center reached the same conclusion. The…
