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media mention June 25, 2021 NBC News: Billionaire investor Peter Thiel has $5B in his tax-free retirement account, report finds
“It’s a wildly inappropriate use of the Roth IRA, even if it’s legal,” said Steve Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy… -
news release June 24, 2021 ITEP: Bipartisan Infrastructure Deal Must Be Accompanied by Bolder Legislation
Following is a statement by Amy Hanauer, executive director of ITEP, regarding the bipartisan deal announced today by senators and the White House. “While the bipartisan infrastructure deal announced today… -
media mention June 15, 2021 The Hill: Even Jeff Bezos should pay income taxes
According to the nonpartisan Institute on Taxation and Economic Policy, 55 of the largest corporations in America — including Archer Daniels Midland, FedEx and Nike — paid no federal income… -
media mention June 11, 2021 VOA News: IRS Data Leak Reveals How Little America’s Wealthiest Pay in Taxes
“I think it’s a big wake-up call,” said Steve Wamhoff, director of federal tax policy for the Institute on Taxation and Economic Policy in Washington. “It tells us things that… -
media mention June 10, 2021 Sacramento Bee: White, Asian families have most to gain if Congress restores tax break Trump capped, report says
“Outright repeal of the SALT cap without an adequate replacement would exacerbate racial inequities in this country,” said a study from the Institute on Taxation and Economic Policy’s Carl Davis… -
media mention June 10, 2021 Politico: How much companies that paid no corporate income tax spent on lobbying
ProPublica’s bombshell report on Tuesday showing that some of the wealthiest Americans routinely pay little or no taxes, a new report from watchdog group Public Citizen today dives into the… -
media mention June 10, 2021 Market Watch: How would Biden’s tax hikes hit the wealth of Jeff Bezos, Elon Musk and other billionaires? First, they’d have to die, experts say
“The whole exposé is really an argument for the Biden proposal to tax unrealized capital gains at death,” said Steve Wamhoff, director of federal tax policy at the left-leaning Institute… -
media mention June 9, 2021 Fortune: Biden’s plan will stop Jeff Bezos and Elon Musk from avoiding billions in taxes
Following is an excerpt of an opEd by Steve Wamhoff published in Fortune: It is no surprise that billionaires pay little in federal taxes relative to their incomes, but the… -
media mention June 8, 2021 New York Times: Investors Fret as Biden Takes Aim at a 100-Year-Old Tax Loophole
In this congressional session, Democrats appear to be placing enormous emphasis on creating a fairer tax code along with investing in infrastructure and social programs, said Steve Wamhoff, director of… -
media mention June 8, 2021 Marketplace: Why are some states experiencing a tax revenue surplus?
But according to Carl Davis, research director at the Institute on Taxation and Economic Policy, no one is swimming in cash. “A lot of states were just barely trying to… -
media mention June 8, 2021 Washington Post: Plans for a Global Minimum Tax Revolution, Explained
Many big corporations do. At least 55 large U.S. companies, including Nike Inc. and FedEx Corp., reported paying no U.S. federal income taxes in 2020 even though they were profitable,… -
media mention June 7, 2021 Fortune: Last year 55 Fortune 500 companies paid no U.S. income tax. How can they get away with that?
Last year at least 55 major, profitable U.S. corporations paid no U.S. income tax, reports the Institute on Taxation and Economic Policy. Some are famous —Nike, FedEx, Salesforce.com—and all are in the Fortune… -
media mention June 5, 2021 CBS News: G-7 nations back global minimum corporate tax of at least 15%
Nations have been grappling with the question of how to deter companies from legally avoiding paying taxes by resorting to tax havens — typically small countries that entice companies with… -
media mention June 4, 2021 Talking Points Memo: If Biden’s Corporate Tax Offer Isn’t A Feint, Then It’s A Massive Concession
Their specific opposition to the corporate tax hike, Matt Gardner, corporate tax expert at the left-leaning Institute on Taxation and Economic Policy, told TPM, is part of their “hidebound refusal… -
media mention June 4, 2021 Bloomberg: Hedge Funds, Tech Spur Texas Wealth Boom as California Fades
The growth comes with headaches. Traffic is getting worse and public transportation is limited. The influx of people is driving up housing prices, forcing up the cost of living by… -
media mention June 3, 2021 Business Insider: Biden offers to ditch his rollback of Trump-era tax cuts in major infrastructure concession to GOP
Instead, Biden put forward a 15% minimum corporate tax as a possible solution, a levy that would be squarely aimed at corporations paying little to no taxes. The president has… -
media mention May 28, 2021 Vox: You should be suspicious of benevolent big business
Amazon, like a lot of big companies, is good at keeping its tax bill low. In some recent years, it’s paid zero federal income tax; it’s managed to pay very… -
media mention May 22, 2021 Phoenix Business Journal: Arizona flat tax proponents point to survey showing residents’ support
The Republic also reported that an Institute on Taxation and Economic Policy analysis found that 20% of Arizona taxpayers would get 91% of the reductions. The report said the switch… -
media mention May 22, 2021 NJ.Com: Live in N.J.? You’ll pay more in taxes over a lifetime than anywhere else, study says
Five states, including New Jersey, would be the only states where more than 1% of their taxpayers would face a higher tax bill under Biden’s proposals, according to the progressive… -
media mention May 21, 2021 The Arizona Republic: Gov. Doug Ducey’s flat-tax plan is an oh-so-sweet deal for Arizona’s upper crust
Read more -
media mention May 20, 2021 KOIN: ‘Nike, just pay it’: Ad tells Nike to pay federal tax
“Last year you made $2.9 billion in profit but paid zero federal income tax,” the ad states. “Nike, thanks to your ads, I’m unstoppable. I have power. I am a… -
media mention May 19, 2021 CNBC: Taxes would likely rise for the wealthy regardless of Biden’s plans
Two-thirds of taxpayers in the top 1% would see their taxes increase as a result of the Biden proposal, according to the Institute on Taxation and Economic Policy. (This group… -
media mention May 19, 2021 Vice: These 55 Companies Kick Ass at Avoiding Taxes. Congratulations!
That’s exactly what many big corporations did this year, once again. At least fifty-five companies managed to book a combined total of more than $40 billion in pre-tax profits in… -
media mention May 17, 2021 The Guardian: Millionaires who support taxing the rich protest in front of Jeff Bezos’s homes
Bezos has said he supports raising the corporate tax rate. But Amazon has long been the subject of protests about tax avoidance. According to calculations by the progressive Institute on… -
blog May 13, 2021 Attacks on Voting Rights, Secret Tax-Cut Negotiations in Arizona Reflect Broader Trend to Undermine Democracy
The onslaught of news about multiple states introducing or passing legislation to make it harder to vote is a clear signal that our democracy is in crisis. Decades of policymaking and judicial rulings have created a system in which the voices of the wealthy and powerful have more weight, and some lawmakers are determined to further rig the system and keep it that way.