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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blog September 2, 2021 It’s Not About Farms: Don’t Let Lies Crush Biden’s Tax Plan
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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,… -
August 18, 2021 Neva Butkus
Neva supports researchers and advocates in their fight for equitable and adequate state tax systems through policy analysis, research and collaboration. Prior to ITEP, Neva was a Senior Policy Analyst at the Louisiana Budget Project where her research and advocacy included issues of corporate tax policy, working family tax credits, unemployment insurance, and K-12 finance policy.
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August 18, 2021 Brakeyshia Samms
Brakeyshia researches and writes about tax policies to inform the public and supports advocates and policymakers with analyses to help secure equitable tax policies, sound fiscal practices, and policy solutions that remedy historical injustices.
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media mention August 17, 2021 CNBC: States boost earned income tax credits for pandemic relief
President Joe Biden proposed 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 from the Institute on… -
media mention August 13, 2021 Motley Fool: Middle-Class Americans Will Get an Average of $2,910 in Stimulus Money in 2021
Although there’s no specific data detailing exactly how much stimulus money people within this income range will receive on average, the Institute on Taxation and Economic Policy found that those… -
media mention August 13, 2021 Yahoo! Finance: Silence from congressional liberals as Democrats move toward SALT tax cut for wealthy
The issue has made odd bedfellows of Republicans and some Democrats, with the liberal-leaning Institute on Taxation and Economic Policy blasting a repeal as “inequitable.” ITEP found that if the… -
media mention August 13, 2021 CNBC: Biden’s boost to the earned income tax credit may trigger a ‘marriage penalty’
A worker without children may receive up to $1,502 in 2021, nearly triple the former benefit, and President Joe Biden proposed making the changes permanent in the American Families Plan. If that happens… -
news release August 5, 2021 ITEP Statement on AFL-CIO President Richard Trumka’s Death
Following is a statement from Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, regarding the death of AFL-CIO President Richard Trumka: “The board and staff of… -
media mention July 29, 2021 Motley Fool: Stimulus Check Update: Most Americans Will Get an Average of $3,450 in Stimulus Money in 2021
In fact, an analysis from the Institute on Taxation and Economic Policy recently revealed that the value of federal stimulus dollars averages $3,450 for the bottom 60% of earners in… -
news release July 29, 2021 Zero-tax Corporations Are a Problem and So Are Corporations that Pay Less Than Half
Media Contact Corporate tax avoidance is a perennial problem that is annually depriving the U.S. Treasury of tens of billions in needed revenue, a new report from the Institute on Taxation… -
media mention July 28, 2021 Salon: Elizabeth Warren cornered by billionaire: “I shouldn’t get Social Security”
According to the senator’s website, the law would require that corporations making over $100 million in yearly profits would pay a 7% tax on any money made after the $100… -
media mention July 27, 2021 CNBC: Stimulus checks and child tax credit payments help prompt calls to expand another credit benefitting workers
The stimulus checks and monthly child tax credit payments have helped increase the understanding of how money can serve as a tool to help people who are struggling, he said.… -
media mention July 26, 2021 Fox: Here’s how much taxpayers can get in added federal benefits
The average American in the lowest 20% of income earners has the potential to collect a total of $3,590 from a combination of direct payments, the expanded Child Tax Credit… -
media mention July 23, 2021 CNBC: Between stimulus checks and expanded tax credits, here’s how much federal money you could get
Between cash hitting bank accounts — in the form of stimulus payments and advance child tax credits — and the expanded earned income tax credit, the value is an average… -
media mention July 22, 2021 CNBC: Between stimulus checks and expanded tax credits, here’s how much federal money you could get
t looks like the combination of stimulus checks and at least two expanded tax credits will be a boon to most U.S. households. Between cash hitting bank accounts — in… -
media mention July 21, 2021 Bloomberg: Intercompany Accounting—A Target For Tax Scrutiny
The IRS also feels significantly short-changed by dozens of big, profitable companies. Just as the Biden administration is pushing to raise corporate tax, a new study by the Institute on… -
media mention July 21, 2021 The Washington Post: Despite paying little or no income tax, some companies have big plans to profit from infrastructure deal
Jacobs was among 55 large companies included on an annual list of firms that don’t pay U.S. income taxes put together by the left-leaning Institute on Taxation and Economic Policy.… -
media mention July 16, 2021 Bloomberg: TurboTax Maker Intuit Opts Out of IRS Free File Program
Carl Davis, director of research at the Institute on Taxation and Economic Policy, said he supports such an idea. The shift would mean the IRS could work directly with taxpayers,… -
media mention July 15, 2021 Yahoo! Money: Millions of American families plan for ‘life-changing’ Child Tax Credit payments
“This is super targeted to lower income families,” Aidan Davis, senior policy analyst at the Institute for Taxation and Economic Policy (ITEP), told Yahoo Money. “The families that are being…