Institute on Taxation and Economic Policy

ITEP's Research Priorities

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

Washington Post: White House open to narrowing who qualifies for stimulus checks but keeping payments at $1,400 per person

February 2, 2021

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 to about 70 percent of the country, according to preliminary estimates of the proposals by the Institute on Taxation and Economic Policy, a left-leaning think […]

Bloomberg: Vehicle Mile Tax Draws Fresh Attention as Buttigieg Takes Post

February 2, 2021

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 where they’ve driven seems “tone deaf for this moment,” Carl Davis, research director at the Institute on Taxation and Economic Policy, said. “I don’t know […]

The Hill: Biden plan would provide more taxpayers stimulus checks than GOP’s

February 2, 2021

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 households that would receive payments under Biden’s plan. Read more

Nevada Current: NV can have a job-creating energy agenda, unless it costs money

February 2, 2021

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 on Taxation and Economic Policy. However, Nevadans with an income of $473,600 or higher only pay about 2 percent share of their household […]

The (Tacoma) News Tribune: Washington parents would get big tax breaks under Biden’s COVID relief plan

February 2, 2021

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%, who make $53,200 to $84,400, would get an average $2,190 break, and the next group of 20% would see an average $2,110 break. They earn […]

Market Place: Caught in the Unemployment Benefits Gap

February 1, 2021

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/

news release  

New Analysis: President Biden’s Proposed Child Tax Credit Expansion Would Reduce Poverty, Address Racial Disparities

January 26, 2021 • By ITEP Staff

New Analysis: President Biden’s Proposed Child Tax Credit Expansion Would Reduce Poverty, Address Racial Disparities

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 Credit (CTC) as part of his American Rescue Plan would provide a financial boost to most of the nation’s families with children, but it would […]

news release  

ITEP: Biden’s American Rescue Plan Is the Start We Need to Right the Economy

January 14, 2021 • By Amy Hanauer

ITEP: Biden’s American Rescue Plan Is the Start We Need to Right the Economy

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 to the health and economic fallout of COVID-19 and promises to address structural challenges that made so many families economically vulnerable in the first place.   […]

Business Insider: The poorest quintile of Americans will get a 29% income boost if $2,000 stimulus checks become a reality, a new report finds

January 12, 2021

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 Dec. 28, which would increase stimulus payments from $600 to $2,000, among other measures. According to a report published last week by the Institute on […]

Yahoo! Finance: $2,000 stimulus checks would be a massive boost for America’s poorest

January 12, 2021

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 households with the lowest incomes would see their annual income increase by 29% if Congress passes the provision under the CASH Act, the Institute on […]

Newsweek: $2,000 Stimulus Checks Would ‘Significantly’ Help 60% With Lowest Income: Report

January 12, 2021

A $2,000 payment would give a 60 percent majority of Americans, those with annual incomes under $65,000, an average income boost of 11 percent, according to a reportreleased last week by the Institute on Taxation and Economic Policy. The bottom 20 percent, those with incomes below $21,300 per year, would see a substantial average income […]

Robesonian: Tax Debates Feature Many Myths

January 12, 2021

On the other hand, our federal tax code, even after the Bush-era and Trump-era tax changes, is rather progressive. It taxes the wealthy at much higher rates than the nonwealthy. If you combine the effects of all taxes — and you should because we all pay taxes at multiple levels and because lots of federal […]