Institute on Taxation and Economic Policy

ITEP's Research Priorities

Daily Tax Report: House Democrats’ International Tax Plan More Modest in Aim

September 13, 2021

“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 added, it’s also “a big improvement over the tax code as it exists now.” Read more

Huffington Post: How Farms Became Wealthy Heirs’ Anti-Tax Mascot

September 8, 2021

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 later selling it at a higher price, for people with annual incomes above $1 million. Capital gains currently enjoy special lower tax rates that top […]

Business Insider: Biden is picking a fight on corporate taxes with Disney, Fedex, and others. Senate Democrats may go easier.

September 8, 2021

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 paid nothing included household names like FedEx and Nike. Read more

The Intercept: Companies Lobbying Infrastructure Tax Increase Have Avoided Paying Billions in Taxes

September 8, 2021

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 across 23 tax haven subsidiaries. In 2012 the company set up a tax haven subsidiary in Ireland, which the IRS later described as an “abusive” […]

Wall Street Journal: Heirs, Estates and the Step-Up in Basis Rule

September 8, 2021

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 avoid paying taxes on a substantial share of their income. Most of what Elon Musk and Jeff Bezos make is appreciation on their assets, also […]

The Nation: The New New Deal

September 6, 2021

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 highlighted the need for a plan to reverse the Trump administration’s giveaways to corporations and the billionaire class. If the pandemic taught us anything, Hanauer […]

The Hill: Progressives prepare to launch counterattack in tax fight

September 2, 2021

“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 Steve Wamhoff, director of federal tax policy at the left-leaning Institute on Taxation and Economic Policy. Read more

Salon: Former Sen. Heidi Heitkamp now lobbies for tax loophole she called “one of the biggest scams”

September 2, 2021

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 most of their real income,” because it comes from appreciation on his assets, which are now worth $99 billion more than they were 10 years ago. […]

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It’s Not About Farms: Don’t Let Lies Crush Biden’s Tax Plan

September 2, 2021 • By Steve Wamhoff

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.  

Joe Hughes

August 27, 2021 • By ITEP Staff

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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New Report Outlines Less Costly Alternatives to SALT Repeal

August 26, 2021 • By ITEP Staff

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”, higher-income states that have more residents affected by the provision have been weighing measures to repeal the cap or provide state-level workarounds.   Repealing the cap has made […]

Bloomberg Law: Wyden Plan Retains Tax Boost But Mulls Foreign Tax Credit Perk

August 25, 2021

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 Policy, and he sees Congress approving a significant package of changes. “At the end of the day, the need for revenue to pay for investments, […]

Newark Star-Ledger: U.S. House paves way to increase property tax breaks after delay spurred by N.J. Democrat

August 24, 2021

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 of $216,000 or less, even though 72% of the benefits would go to the richest 5%. The House’s August recess had been temporarily short-circuited and […]

The Motley Fool: Low-Income Americans Will Get an Average of $3,590 in Stimulus Money in 2021

August 20, 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 household income of $21,300 or less will get an average of $3,590 in stimulus money and tax credits this year. On average, this includes: $2,210 […]

Mississippi Today: Mississippi tax laws place higher burden on people of color

August 19, 2021

“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, based on data compiled by the Institute on Taxation and Economic Policy. “Those rates are significantly above the statewide average tax rate of 8.4% and […]

Neva Butkus

August 18, 2021 • By ITEP Staff

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.

Brakeyshia Samms

August 18, 2021 • By ITEP Staff

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.

CNBC: States boost earned income tax credits for pandemic relief

August 17, 2021

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 Taxation and Economic Policy.  Read more

Motley Fool: Middle-Class Americans Will Get an Average of $2,910 in Stimulus Money in 2021

August 13, 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 with household incomes between $65,000 and $111,300 will receive an average of $3,540. This range is a pretty close overlap with families who are considered […]

Yahoo! Finance: Silence from congressional liberals as Democrats move toward SALT tax cut for wealthy

August 13, 2021

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 cap were repealed, two-thirds, or some $67 billion, would flow to white taxpayers who make over $200,000 per year. The report said that a clean […]

CNBC: Biden’s boost to the earned income tax credit may trigger a ‘marriage penalty’

August 13, 2021

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 the enhanced EITC would provide $12.4 billion to families in 2022, benefiting 19.5 million workers, according to research from the Institute on Taxation and Economic Policy.  […]

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ITEP Statement on AFL-CIO President Richard Trumka’s Death

August 5, 2021 • By Amy Hanauer

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 the Institute on Taxation and Economic Policy and Citizens for Tax Justice mourn the sad news of the loss of AFL-CIO President Richard Trumka. Mr. […]

Motley Fool: Stimulus Check Update: Most Americans Will Get an Average of $3,450 in Stimulus Money in 2021

July 29, 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 the U.S. That encompasses everyone making less than $65,000 per year. And this $3,450 number doesn’t even take into account the fact that the child […]

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Zero-tax Corporations Are a Problem and So Are Corporations that Pay Less Than Half

July 29, 2021 • By ITEP Staff

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 and Economic Policy (ITEP) reveals.  The report, Corporate Tax Avoidance Under the Tax Cuts and Jobs Act (TCJA), finds that 39 corporations paid no federal taxes over the first three years of […]

Salon: Elizabeth Warren cornered by billionaire: “I shouldn’t get Social Security”

July 28, 2021

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 million cutoff. These corporations, she told Langone, “should have to pay a tax on what they report. Not on what happens after they’ve done a […]