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media mention April 15, 2022 MarketPlace: Millions of college students are eligible for tax credits. But they have to file for them
“They’re sensibly designed to make college more attainable, to make it so that students don’t have to live in poverty just to pay for their college expenses,” said Matthew Gardner,… -
media mention April 14, 2022 CNBC: How companies like Amazon, Nike and FedEx avoid paying federal taxes
The current United States tax code allows some of the biggest company names in the country to not pay any federal corporate income tax. In fact, at least 55 of… -
media mention April 12, 2022 CSPAN Washington Journal: Biden Tax Proposals
ITEP Senior Fellow Matthew Gardner appeared on CSpan’s Washington Journal on Tuesday, April 12, 2022, to discuss President Biden’s tax proposals. -
media mention April 12, 2022 Quartz: What’s in store for empty downtown office buildings?
Even as business districts start to recover, Gallup estimates that 37% of current office space in the US is likely to be abandoned as workers switch to remote work. That… -
media mention April 11, 2022 Wall Street Journal: Raise Residential Taxes? Bring in Casinos? Cities Look at Ways to Bolster Budgets
“Though magnitudes vary somewhat across cities, all face significant fiscal risks,” the Institute on Taxation and Economic Policy, a Washington, D.C., think tank, said in a November report that looked… -
media mention April 11, 2022 Wall Street Journal: Cities Look at Ways to Bolster Budgets
“Though magnitudes vary somewhat across cities, all face significant fiscal risks,” the Institute on Taxation and Economic Policy, a Washington, D.C., think tank, said in a November report that looked… -
media mention April 6, 2022 Washington Post: Want to really fix Virginia’s standard deduction? Index it.
On that topic, the Institute on Taxation and Economic Policy wrote: Any feature of an income tax that is based on a fixed dollar amount will be vulnerable to inflationary… -
media mention April 6, 2022 Fox News: Rep. Ro Khanna concerned student loan debt could be a hurdle to raising children, buying homes
“How is it that some corporations are paying zero percent tax?” Khanna said. “We can make sure that people who are very, very wealthy are paying at least 20%. That… -
blog April 4, 2022 Punitive Fines and Fees Are an Invisible Cost of State Tax Cuts
The deck is stacked against those who have the least, and ongoing racism makes it even more difficult for people of color to avoid punitive systems that are intentionally structured to extract what, for poor people, can be usurious penalties. The nation collectively shrugs about such injustices because they are either invisible or we chalk up entanglements in any legal morass to personal behavior. But the truth is that, indirectly, we are all part of the fines-and-fees matrix that entraps poor people in debt or keeps them tethered to the criminal justice system. None of us should look away.
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media mention March 31, 2022 The Nation: Biden’s Billionaire Tax Is Smart Politics for the Midterms
Right now, über-billionaire Elon Musk enjoys a tax rate of 3.27 percent, while Amazon’s Jeff Bezos pays 0.98 percent, according to a 2021 ProPublicareport. Getting them to pay 20 percent… -
media mention March 31, 2022 Bloomberg: Did You Pay Your ‘Fair Share’ of Federal Income Tax This Year?
And according to the Institute on Taxation and Economic Policy, the impact would have a definite geographic tilt. The states where more than 40% of residents would face tax increases… -
media mention March 30, 2022 WVTF Radio: A gas tax holiday may not lead to savings for Virginia drivers
About a third of the savings will go to the oil industry, according to research into how this worked when Indiana and Illinois had a gas tax holiday. But that… -
media mention March 29, 2022 Associated Press: How Would a Billionaire Tax Work?
Steve Wamhoff, director of tax policy at the Institute on Taxation and Economic Policy, says the Democrats “have got this reconciliation vehicle that they can use that to pass legislation.”… -
media mention March 29, 2022 MarketWatch: Can Biden turn his ‘billionaire minimum income tax’ into law?
The minimum tax payments would count as a “prepayment,” credited against future capital-gains taxes, the Treasury Department said. That way, when the asset was finally sold off, it would not… -
media mention March 29, 2022 Fortune: President Biden says his ‘Billionaire Minimum Income Tax’ would raise $360 billion. How does it work?
The highest likelihood is through “reconciliation” — a budget process for passing fiscal legislation with a simple majority of Senate votes. That will require buy-in from West Virginia Sen. Joe… -
media mention March 28, 2022 New York Times: What Retirement Means for Your Taxes
Many states exempt retirement income, although the specifics vary widely. Eight states have no personal income tax, but among those that do, about three-quarters fully exempt Social Security benefits from… -
media mention March 15, 2022 CBS News: These states may soon slash their residents’ income taxes
Georgia’s House recently approved a bill that would create a flat state income tax with a 5.25% rate, raise the amount of income exempt from taxation and eliminate many deductions.… -
media mention March 15, 2022 CNBC: Eligible Taxpayers Can Claim Earned Income Tax Credit in These States
President Joe Biden called for making these changes permanent in the American Families Plan, which could provide $12.4 billion to families in 2022, affecting 19.5 million workers, according to research… -
media mention March 14, 2022 Washington Post: Congress urges DOJ, Treasury to examine drug companies aiming to turn opioid settlements into tax breaks
There is uncertainty in the law about these types of tax breaks, said Matthew Gardner, a senior fellow at the nonprofit Institute on Taxation and Economic Policy. Though recent changes… -
media mention March 14, 2022 MSNBC: Putting a price tag on Rick Scott’s proposed GOP tax hike
About a week later, the Institute on Taxation and Economic Policy produced a related report that found, under the GOP senator’s vision, most of the tax increases “would be paid… -
media mention March 12, 2022 Washington Post: Yes, voters ‘deserve to know’ this GOP plan would raise taxes by $1 trillion
The bean counters at the Urban-Brookings Tax Policy Center and the Institute on Taxation and Economic Policy ran the numbers on what ITEP called the “only possible interpretation of Sen.… -
media mention March 11, 2022 McClatchy: Would a gas tax break help drivers save that much money? Here’s what experts say
According to the American Petroleum Institute, the federal tax on gas is about 18 cents per gallon. National gas prices average about $4 per gallon as of March 11, according… -
media mention March 11, 2022 Bridge Michigan: Michigan GOP tax cut plan helps wealthy at expense of equity
Following is an excerpt from an opEd co-authored by ITEP policy analyst Neva Butkus in Bridge Michigan: At the beginning of 2022, the national Institute on Taxation and Economic Policy… -
media mention March 9, 2022 Truthout: GOP’s Tax Plan Would Raise Taxes by Over $1,000 Annually for Poorest Americans
In a report released on Monday, the Institute on Taxation and Economic Policy (ITEP) estimated that the poorest Americans would be the most affected by Scott’s plan — meaning that… -
media mention March 9, 2022 Pennsylvania Capital Star: GOP plan would be a tax hike for 35% of Pa. residents
The share of households facing tax hikes would vary across states, according to an analysis by the Institute on Taxation and Economic Policy, ranging from a low of about 24 percent…