Institute on Taxation and Economic Policy (ITEP)

ITEP's Research Priorities

Market Watch: Billionaire philanthropy is a ‘PR scam,’ says CEO who raised his workers’ minimum pay to $70,000

February 23, 2021

Billionaires pay the lowest tax rate of any income group nationally, Price added. In Washington state, the richest pay 3% of their income on taxes, while the poor pay 18%, he said. (That’s according to a report by the Institute on Taxation and Economic Policy, a left-leaning think tank.) Read more

BGR: Families are going to love this stimulus check news

February 22, 2021

This is what was found by an analysis from a left-leaning nonpartisan think tank called the Institute on Taxation and Economic Policy which looked at both the Biden plan as well as related proposals from the House Ways and Means Committee: Rather than simply providing the poorest Americans with $1,400 stimulus checks, Biden’s coronavirus-related stimulus proposal would actually give […]

Heavy.com: Third Stimulus: Poorest Americans Could See 33% Income Boost

February 21, 2021

The relief bill, proposed last month, allocates $1,400 direct checks to eligible individuals and expands the the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC), CBS News reported. With those three measures, the poorest 20% of Americans could see a 33% boost in their pre-tax incomes, CBS said, citing the Institute on Taxation and […]

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Enforcing Current Tax Law Makes Financial Sense

February 19, 2021 • By Steve Wamhoff

Enforcing Current Tax Law Makes Financial Sense

While lawmakers disagree sharply over what our tax law should look like, there should be no argument that we must enforce tax laws currently on the books. Yet, Republican Congresses systematically weakened the IRS’s ability to enforce tax laws by defunding the agency, resulting in hundreds of billions in lost tax revenue every year. Two bills introduced in the U.S. House would address this by increasing tax audits of big corporations and high-income individuals and by providing more resources to the IRS.

Bond Buyer: Direct Aid to Local Governments Is on the Way

February 16, 2021

Nationally the expansion of the EITC for workers without children would be the largest since 2009. “The Institute on Taxation and Economic Policy estimates that such expansions along with direct assistance would provide an average income boost of 33% for the poorest 20% of households,” said Rep. Richard Neal, D-Mass., chairman of the Ways and […]

CBS News: Stimulus bill would boost incomes of poorest Americans by nearly $4,000

February 16, 2021

nder the plan advancing in the House Ways and Means Committee, the next stimulus bill would send $1,400 to eligible people, as well as expand the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC). Altogether, the three programs would provide a 33% boost to the pre-tax incomes of the poorest 20% of Americans […]

NEXSTAR Media Wire: Biden stimulus plan would boost incomes for poorest, analysis shows

February 16, 2021

President Joe Biden’s $1.9 trillion American Rescue Plan would benefit millions of Americans, but it would have an outsized impact for the people who make up the poorest fifth of the population, according to an analysis by the Institute on Taxation and Economic Policy (ITEP). The nonpartisan, nonprofit think tank that studies tax policy analyzed […]

The New York Times: California: Liberal Model or Cautionary Tale?

February 16, 2021

Below is an excerpt of an LTE by ITEP Research Director Carl Davis:   Of course, the very richest people in California pay more tax than they would if they lived in Texas or Washington. But these top earners can afford to live wherever they want. The best available research concludes that top earners rarely […]

Nasdaq.com: World Reimagined Podcast

February 16, 2021

An analysis by the Institute on Taxation and Economic Policy (ITEP) showed that U.S. President Joe Biden’s $1.9 trillion American Rescue Plan would benefit millions of Americans and would have an outsized impact for the people who make up the poorest fifth of the population. Read more

Fox Business: Biden’s $1.9T stimulus would give almost $3,600 to poorest Americans, analysis finds

February 15, 2021

The Institute on Taxation and Economic Policy (ITEP), a left-leaning nonpartisan think tank, analyzed the cash payment and tax proposals from the House Ways and Means Committee as part of Biden’s stimulus proposal last week. For the poorest 20% of Americans making less than $21,300, the ITEP analysis found they would, on average, pocket $3,590 […]

Thestranger.com: The Choice Is Clear for Washington Democrats: Pass Progressive Taxes or Perpetuate a Racist Tax Code

February 15, 2021

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 Black, Hispanic, Indigenous, and Pacific Islanders is between half a point and one point higher than it is for white people. “While these differences may […]

Progressive.org: A Chance for New Beginnings

February 15, 2021

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 more

CNBC: A new child tax credit expansion could provide monthly income. Some question whether the help is too much or too little

February 14, 2021

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 $200,000 in income and couples with $400,000, the same thresholds in place for the credit today. “The idea is the current $2,000 that people get […]

New York Amsterdam News: To dismantle white supremacy we must tax the rich

February 11, 2021

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. Over half of the savings from this deduction alone accrues exclusively to the top 1% of households, who are mostly white. Similarly, the Institute on […]

Yahoo! Lifestyle: This Chart Explains What Your Family Will Get From The Stimulus Package

February 10, 2021

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 due to closed storefronts, most families are feeling the pinch. President Biden’s $1.9 trillion stimulus package, called the American Rescue Plan, has been somewhat of […]

Wall Street Journal: Amazon’s U.S. Tax Costs Jumped in 2020. It Likely Would Pay Even More Under Biden Plan.

February 5, 2021

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 better than none,” Matt Gardner, senior fellow at the left-leaning Institute on Taxation and Economic Policy, said of Amazon’s higher tax costs for 2020. However, […]

Bloomberg: Cuomo, Murphy Call for More Covid Relief to Hardest-Hit States

February 5, 2021

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, a non-profit, non-partisan research group based in Washington. Read more

Washington Post: Here’s the new Democratic plan for $1,400 stimulus checks

February 4, 2021

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 Economic Policy found the bottom 20 percent of Americans — those earning less than $21,300 — would see their income rise nearly 30 percent, helping […]

CNBC: Fewer people may qualify for the $1,400 stimulus payments. Here’s why

February 4, 2021

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 than $21,300 in 2020, by 29%, according to a report from the left-leaning Institute on Taxation and Economic Policy. Read more

Jacobin: The Washington Post Deserves 324 Billion Pinocchios for Its Attacks on Bernie Sanders

February 4, 2021

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 the Institute on Taxation and Economic Policy. The group’s analysis shows that almost three-quarters of the tax cuts flowed to that cohort.. Read more

Newsweek: Democrats May Block Millions of Families from Receiving Full Stimulus Checks

February 4, 2021

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 million people, according to the Institute on Taxation and Economic Policy. Read more

Public News Service: Report: Biden Relief Package Could Reduce Child Poverty in Nebraska

February 3, 2021

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 new analysis by the Institute on Taxation and Economic Policy. Amy Hanauer, executive director for the institute, said the move will help working people in […]

Jacobin Magazine: The Chamber of Commerce Wants to Slash COVID-19 Relief Checks. We Can’t Let Them

February 3, 2021

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 people, according to the Institute on Taxation and Economic Policy. Read more

NJ.com: Biden says GOP plan with $1,000 payments is too small as Senate moves ahead with his plan. Here’s the latest.

February 3, 2021

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 that’s a lower percentage than any other state, tied with Massachusetts. Of the 5.6 million adults in the state who would receive a stimulus check, […]

Fiscal Times: Biden Urges Senate Dems to Go Big on Covid Relief

February 2, 2021

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 Post’s Jeff Stein. Read more