In their analysis of a new report from the Institute on Taxation and Economic Policy, the Budget and Policy Center showed that the effective state and local tax rate for…
Besides doing essential work, undocumented workers contribute $11.7 billion a year in state and local taxes, according to a 2017 estimate by the Institute on Taxation and Economic Policy. Read…
The credit would phase out for those making above those levels, where it would be reduced and then plateau at $2,000 per child. It would be capped for individuals with…
To further compound racial inequality, other parts of our tax code essentially function as giveaways to the wealthiest white households. Take the tax deduction for income earned from pass-through businesses.…
The economic repercussions of the pandemic have devastated many families: from teachers who have no choice but to return to the classroom toretail workers who find themselves out of work…
Amazon’s low reported tax expenses in earlier years, along with similar figures from other companies, helped spur Democratic proposals for minimum taxes that would affect them. “Half a loaf is…
New Jerseyans stood to pay $3.1 billion more in taxes annually as a result of the 2017 change, according to a study by the Institute on Taxation and Economic Policy,…
The best argument in favor of the checks is that they have kept many Americans out of poverty during the crisis. An analysis by the left-leaning Institute on Taxation and…
At the same time, the additional $1,400, on top of the $600 payments sent earlier this year, would increase the incomes of the poorest 20% of Americans, those earning less…
Kessler’s entire line of argument deserves about 324 billion Pinocchios — one for each dollar that flowed to the richest fifth of the country in just 2020 alone, according to…
Senate Republicans on Monday proposed that Congress limit full stimulus checks to individuals earning up to $40,000 and couples earning $80,000—a move that would deny checks to an additional 80…
President Joe Biden’s proposal to expand the Child Tax Credit would help reduce child poverty and extend the credit to nearly half of all Black and Hispanic children, according to…
Senate Republicans on Monday proposed that Congress limit full stimulus checks to individuals earning up to $40,000 and couples earning $80,000 — a move that would deny checks to an additional eighty million…
The Institute on Taxation and Economic Policy, a progressive research group, said that 90% of New Jersey adults and 91% of children would receive at least a partial payment. But…
The difference translates to 80 million fewer people getting payments under the GOP plan, according to an analysis by the left-leaning Institute on Taxation and Economic Policy cited by the…
Biden’s plan would provide stimulus payments to approximately 95 percent of the country, while the Republican plan, lowering the threshold to those making under $50,000 a year, would provide payments…
Large segments of the population are as skeptical of government as they’ve ever been, so asking them to install devices in their vehicles to determine how far and sometimes even…
The Tax Foundation’s findings are similar to an estimate from the left-leaning Institute on Taxation and Economic Policy that found that about 95 percent of adults and children are in…
The bottom 20 percent of Nevadans with an income of less than $20,500 pay 10.2 percent of their daily income in taxes, including 7 percent in sales tax, according to…
The Institute for Taxation and Economic Policy estimated that the second lowest 20% of Washington income earners, those making $28,800 to $53,200, would save an average $2,470. The middle 20%,…
This episode features commentary from Jessica Scheider on the risk of too small a stimulus. Read more: https://www.marketplace.org/shows/marketplace/people-caught-unemployment-benefits-gap/
Media contact The credit would boost after-tax income for the poorest 20 percent by $4,570 or an average 37% of their incomes President Biden’s proposed expansion to the Child Tax…
Following is a statement by Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, regarding President-elect Biden’s economic package released today. “President-elect Biden’s plan offers sound solutions…
Low-income Americans can expect to see a significant income boost if the Caring for Americans with Supplemental Help Act passes in the Senate. The House passed the CASH Act on…
America’s poorest families would see their incomes grow by more than quarter if the $2,000 stimulus check proposal that President-elect Joe Biden supports passes, according to a new analysis. The 20% of…
