Institute on Taxation and Economic Policy

ITEP's Research Priorities

Marketplace: Why are some states experiencing a tax revenue surplus?

June 8, 2021

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 get back to where they were before the last recession,” he said. Read more

Washington Post: Plans for a Global Minimum Tax Revolution, Explained

June 8, 2021

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, according to the Institute on Taxation and Economic Policy. And some nations benefit by attracting businesses with low rates. Read more

Fortune: Last year 55 Fortune 500 companies paid no U.S. income tax. How can they get away with that?

June 7, 2021

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 500 or the S&P 500. How can they get away with that? Read more

CBS News: G-7 nations back global minimum corporate tax of at least 15%

June 5, 2021

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 low or zero taxes, even though the firms do little actual business there. According to an analysis by the Institute on Taxation and Economic Policy, a left-leaning […]

Talking Points Memo: If Biden’s Corporate Tax Offer Isn’t A Feint, Then It’s A Massive Concession

June 4, 2021

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 to contemplate anything that reverses any element of the Tax Cuts and Jobs Act.” “Where is the tax increase that Republican leaders in Congress haven’t […]

Bloomberg: Hedge Funds, Tech Spur Texas Wealth Boom as California Fades

June 4, 2021

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 boosting property taxes. Given high levies on real estate and the state sales tax, the fiscal burden on middle-class people is higher in Texas than […]

Business Insider: Biden offers to ditch his rollback of Trump-era tax cuts in major infrastructure concession to GOP

June 3, 2021

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 previously cited a report from the left-leaning Institute on Taxation and Economic Policy indicating 55 major American companies paid nothing in federal income taxes in […]

Vox: You should be suspicious of benevolent big business

May 28, 2021

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 little in other years, even as its profits soared. According to the left-leaning Institute on Taxation and Economic Policy (ITEP), Amazon’s effective federal tax rate […]

Phoenix Business Journal: Arizona flat tax proponents point to survey showing residents’ support

May 22, 2021

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 would cut state revenues by $1.5 billion per year. The plan has drawn opposition from cities in the state. They say the reduced revenue will […]

NJ.Com: Live in N.J.? You’ll pay more in taxes over a lifetime than anywhere else, study says

May 22, 2021

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 Institute on Taxation and Economic Policy. Read more

The Arizona Republic: Gov. Doug Ducey’s flat-tax plan is an oh-so-sweet deal for Arizona’s upper crust

May 21, 2021

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KOIN: ‘Nike, just pay it’: Ad tells Nike to pay federal tax

May 20, 2021

“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 change maker. You inspired us to step up. Now, it’s your turn. Nike, just pay it.” The claim is based on a report by the […]

CNBC: Taxes would likely rise for the wealthy regardless of Biden’s plans

May 19, 2021

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 has an average income of $2.2 million, according to the analysis.) Read more

Vice: These 55 Companies Kick Ass at Avoiding Taxes. Congratulations!

May 19, 2021

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 their most recent fiscal year, while reducing their corporate income tax bill to zero, according to the Institute on Taxation and Economic Policy (ITEP). Those […]

The Guardian: Millionaires who support taxing the rich protest in front of Jeff Bezos’s homes

May 17, 2021

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 Taxation and Economic Policy in February, in 2020 Amazon only paid a 9.4% federal income tax rate, less than half the statutory 21%. Read more

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Attacks on Voting Rights, Secret Tax-Cut Negotiations in Arizona Reflect Broader Trend to Undermine Democracy

May 13, 2021 • By Carl Davis, ITEP Staff, Jenice Robinson

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.

The New York Times: How to collect a trillion dollars

May 11, 2021

It’s difficult to quantify just how much money goes uncollected each year, officials say. Corporate tax collections in the U.S. are “at historic lows and well below what other countries collect,” according to a recent Treasury report. U.S. multinational companies can be taxed at a 50 percent discount compared with their domestic peers, an incentive […]

Commonwealth Magazine: Mass. delegation not jumping on SALT bandwagon

May 11, 2021

The politics of SALT are tricky. While the SALT deduction benefits a wide swath of taxpayers across many states, the biggest beneficiaries tend to be wealthy people with big homes who pay a lot of state income and property tax. The Institute on Taxation and Economic Policy estimates the richest 5 percent would receive 85 […]

Toledo Blade: Ohio urged to spend surplus on children, pregnant women

May 11, 2021

A study by the Institute on Taxation and Economic Policy for Policy Matters estimates that those making between $40,000 and $61,000 a year would on average see a $7 reduction in their annual tax bills from the latest proposal. Those earning at least $490,000 would average a $612 break. Through April, with just two months […]

NBC Chicago: Child Tax Credit: Parents Must File Tax Returns by May 17 Deadline to Qualify

May 7, 2021

About 83 million children live in households that would benefit from the expansion of the child tax credit, according to a study from the Institute on Taxation and Economic Policy. In addition, the poorest 20% of families would see income increase by more than 37% during the year that the policy is in place. Read more

WFAE: Duke Energy Among 55 Companies That Paid No U.S. Taxes Last Year

May 5, 2021

An analysis by the Institute on Taxation and Economic Policy, a progressive think tank, finds that Duke and other large companies used lower tax rates and tax incentives to eliminate their federal liability. In Duke’s case, those measures turned what could have been a $176 million income tax bill into a tax credit. When companies […]

The Motley Fool: Stimulus Check Update: Direct Payments Worth $3,600 May be Headed Your Way Soon

May 5, 2021

There are also restrictions to who you can claim under the expanded child tax credit. In order to claim your child or children, you must: Have a valid Social Security number for your child Be related to the child Have had your child live with you for at least half the year Provide more than […]

US News: Americans Are OK With Biden’s Spending Plans: Poll

April 27, 2021

Biden has repeatedly lamented that corporations do not pay their fair share of taxes, using legal loopholes to avoid taxes. A report earlier this month by the Institute on Taxation and Economic Policy found that at least 55 of the nation’s top companies paid no corporate income taxes in 2020, despite collecting $40.5 billion in […]

CNBC: Elizabeth Warren takes aim at FedEx, Nike, Amazon in push for corporate tax hike

April 27, 2021

FedEx and Nike were mentioned in an April report by the Institute on Taxation and Economic Policy as companies that recently paid little-to-no federal corporate income taxes. “The delivery giant FedEx zeroed out its federal income tax on $1.2 billion of U.S. pretax income in 2020 and received a rebate of $230 million,” the report said. “The […]

CNBC: Calls to end $10,000 SALT deduction cap threaten Biden’s tax plan ahead of its release

April 27, 2021

In addition, most of the families that would benefit from doing away with the SALT cap would be wealthy white ones, according to a recent analysis from the left-leaning Institute on Taxation and Economic Policy. Black families are 42% less likely and Hispanic families are 33% less likely than white ones to see a tax break […]