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media mention September 17, 2021 The Hill: Lessons from Occupy Wall Street for today’s tax fight
Following is an excerpt from an opEd by Amy Hanauer, ITEP’s executive director, published in The Hill. Right now, Congress is debating President Biden’s Build Back Better agenda, a plan that would make… -
media mention September 17, 2021 CNBC: About 1 Million More Kids Could Get the Child Tax Credit in the Future Thanks to This Change in Plan From Democrats
One major change in the current proposal is allowing children with individual taxpayer identification numbers, or ITINs, to receive the credit. These kids, who are often undocumented children growing up… -
media mention September 17, 2021 The Sun: Nearly one million kids could get child tax credits in new plan… are you in line for cash?
Researchers at the Institute on Taxation and Economic Policy think this change could benefit up to one million children. The 2017 Tax Cuts and Jobs Act prevented families with ITINs… -
media mention September 14, 2021 Boston Now: Housing, commuting and medical care pushes 9.4% of Bay Staters into poverty, Census data shows
The Institute on Taxation and Economic Policy also pointed to the stimulus payments as a reason why there was no commensurate spike in poverty in 2020 to go with the… -
media mention September 14, 2021 Houston Chronicle: Stimulus checks saved many from poverty, Census data show
“At the start of the health and economic crisis, we knew that we needed deep government investments to alleviate widespread hardship,” said Aidan Davis, a senior policy analyst at the… -
media mention September 14, 2021 Los Angeles Times: Democrats are ready to raise taxes, but not by nearly enough
They write off executive stock options, take advantage of federal research and development subsidies, and use accelerated depreciation schedules to write off the decline in the value of equipment faster… -
media mention September 14, 2021 The Hill: House Democrats take step back from Biden on tax hikes
Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy, said the committee’s proposal would be a “huge improvement” over the current tax code. But… -
media mention September 14, 2021 CNBC: House Democrats push for permanent EITC expansion
A permanent expansion may cost $135 billion over the next decade, the Joint Committee on Taxation estimates. If enacted, the increased credit may provide $12.4 billion to families in 2022, affecting… -
media mention September 14, 2021 Marketwatch: Biden v. House Democrats: How their proposed tax hikes differ on Roth IRAs, capital gains
But the Ways and Means Committee proposals do “not go as far as the Biden administration proposals go,” said Steve Wamhoff, director of federal tax policy at the left-leaning Institute… -
news release September 13, 2021 ITEP: House Ways and Means Revenue Proposals Are a Promising Start, Leave Some Crucial Work Undone
Earlier this year, the Biden administration put forth a transformative tax proposal that would raise significant revenue, reduce corporate tax avoidance, and substantially increase taxes paid by the wealthiest individuals. The Ways and Means Committee has kept some of these important reforms but has diluted others in ways that would leave some of the work of tax reform undone.
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media mention September 13, 2021 Daily Tax Report: House Democrats’ International Tax Plan More Modest in Aim
“It’s definitely more corporate-friendly than the Biden plan,” said Steve Wamhoff, director of federal tax policy for the left-leaning Institute on Taxation and Economic Policy. But in big-picture terms, he… -
media mention September 8, 2021 Huffington Post: How Farms Became Wealthy Heirs’ Anti-Tax Mascot
The tax proposals in question do not actually target family farms. The White House has called for higher taxes on capital gains, like the profits from buying a stock and… -
media mention September 8, 2021 Business Insider: Biden is picking a fight on corporate taxes with Disney, Fedex, and others. Senate Democrats may go easier.
He also ripped into 55 large companies that paid no federal income taxes in 2020, per a report from the left-leaning Institute on Taxation and Economic Policy. Those firms who… -
media mention September 8, 2021 The Intercept: Companies Lobbying Infrastructure Tax Increase Have Avoided Paying Billions in Taxes
A 2016 report from the U.S. Public Interest Research Group, Citizens for Tax Justice, and the Institute on Taxation and Economic Policy found that Bristol Myers Squibb held $25 billion… -
media mention September 8, 2021 Wall Street Journal: Heirs, Estates and the Step-Up in Basis Rule
Following is an excerpt from a letter to the editor published in the Wall Street Journal by Steve Wamhoff, ITEP federal policy director. Under current law, America’s wealthiest people can… -
media mention September 6, 2021 The Nation: The New New Deal
Amy Hanauer, the executive director of the Institute on Taxation and Economic Policy, sees the budget as a “long overdue” opportunity to achieve fairer taxation. Biden and Senate Democrats have… -
media mention September 2, 2021 The Hill: Progressives prepare to launch counterattack in tax fight
“Clearly what is happening is that some lawmakers are responding to a lobbying campaign by corporations and very wealthy people, and that campaign is really kicking into gear now,” said… -
media mention September 2, 2021 Salon: Former Sen. Heidi Heitkamp now lobbies for tax loophole she called “one of the biggest scams”
Amy Hanauer, executive director of the Institute for Taxation and Economic Policy, told Salon that the current loophole “unfairly allows billionaires like Jeff Bezos to avoid paying income tax on… -
blog September 2, 2021 It’s Not About Farms: Don’t Let Lies Crush Biden’s Tax Plan
Several former Democratic members of Congress have joined a campaign to misrepresent President Biden’s proposal to close a huge tax loophole for wealthy people with capital gains. This proposed reform is the cornerstone of the president’s tax plan. If lawmakers fall for the lies, Biden’s plan will collapse. Instead, they should do what is both popular and fair: enact the plan intact so that millionaires and billionaires no longer escape the federal income tax.
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August 27, 2021 Joe Hughes
Joe supports ITEP in monitoring federal tax policies. His research focuses on progressive tax priorities to ensure corporations and the ultra wealthy pay their fair share. Prior to joining ITEP in 2021, Joe worked at the Congressional Research Service and the Bureau of Labor Statistics. He completed a master’s in applied economics at George Washington University and undergraduate studies at the University of Tennessee.
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news release August 26, 2021 New Report Outlines Less Costly Alternatives to SALT Repeal
Media contact Ever since former President Trump and the GOP-led Congress enacted a $10,000 cap on state and local tax (SALT) deductions in December 2017, federal and state lawmakers in the mostly “blue”,… -
media mention August 25, 2021 Bloomberg Law: Wyden Plan Retains Tax Boost But Mulls Foreign Tax Credit Perk
But public opinion supports the idea of companies paying higher taxes on their offshore profits, said Steve Wamhoff, director of federal tax policy for the Institute on Taxation and Economic… -
media mention August 24, 2021 Newark Star-Ledger: U.S. House paves way to increase property tax breaks after delay spurred by N.J. Democrat
The Institute on Taxation and Economic Policy, a progressive research group, said 80% of the 1.9 million New Jerseyans who would benefit from removing the cap had an average income… -
media mention August 20, 2021 The Motley Fool: Low-Income Americans Will Get an Average of $3,590 in Stimulus Money in 2021
According to the Institute on Taxation and Economic Policy, the lowest-earning Americans will receive more financial relief this year than some of their higher-earning counterparts. Specifically, those who have a… -
media mention August 19, 2021 Mississippi Today: Mississippi tax laws place higher burden on people of color
“Black households pay an average of 8.7% of their income in state and local tax while Hispanic families pay 9.1%,” according to a recently released study by non-profit One Voice,…