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media mention July 24, 2020 Forbes: Why You Won’t See A Payroll Tax Cut In Second Stimulus Round
But the financial benefit to taxpayers is so disproportionate toward the wealthy that most economists agree a payroll tax cut is not a logical choice during the pandemic. The Institute… -
media mention July 24, 2020 New York Times: 16 States Go Ahead With ‘Back to School’ Sales Tax Holidays
Still, the drain on state revenue, combined with the incentive to crowd into stores looking for bargains when coronavirus cases are surging, suggests that 2020 may have been a good… -
media mention July 23, 2020 The Hill: Congress cannot ignore the need for COVID-19 relief
Following is an excerpt from an op-ed by Amy Hanauer published in The Hill. Yet, the economy is keeping afloat because Congress put cash in people’s pockets all spring, with… -
media mention July 23, 2020 Axios: Why economists don’t like the idea of a payroll tax cut
“The White House’s latest economic policy trial balloon leaves out the most important solutions and floats some policies that are diametrically opposed to what the country needs,” Amy Hanauer, executive… -
media mention July 22, 2020 Bloomberg: Biden Attacks $50 Billion Real Estate Tax Break in Jab at Trump
On its merits, the like-kind exchange — sometimes referred to as a “1031” exchange for its tax code designation — is difficult to defend, according to some tax experts. “There… -
media mention July 22, 2020 CNBC: These are the taxpayers who benefit most from Trump’s call for a payroll tax holiday
The wealthiest 20% of taxpayers would reap the most from a suspension of this levy, according to a recent analysis from the Institute on Taxation and Economic Policy. The non-partisan… -
media mention July 22, 2020 Forbes: Here’s Who Gets The Money On Further Covid-19 Relief
The Institute on Taxation and Economic Policy (ITEP) performed an analysisto estimate who would benefit most for the cut. An elimination of payroll taxes from September through December 2020 would… -
media mention July 22, 2020 11 Alive (Atlanta): President Trump signs memo to keep undocumented immigrants from participating in census
The Institute on Taxation and Economic Policy found undocumented immigrants pay eight percent of their incomes in state and local taxes each year. Advocates worry Tuesday’s memo will deter immigrants… -
media mention July 22, 2020 Forbes: Would A Second Stimulus Check Or Payroll Tax Cut Be More Effective?
The left-leaning Institute on Taxation and Economic Policy (ITEP), calculated that eliminating the 7.65 levy on employees between April 1 and December 31, 2020 would distribute 47 percent of the benefits to… -
media mention July 22, 2020 Newark Star-Ledger: Murphy plea for federal aid blocked by McConnell as some in GOP don’t want to help blue states
Trump has championed a payroll tax cut, which would not help those currently without jobs under the pandemic-induced recession nor assist states in balancing their budgets. Almost two-thirds of the… -
media mention July 20, 2020 Business Insider: Trump is doubling down on a payroll tax cut which has slim GOP support and would do virtually nothing to help jobless Americans
A disproportionate share of the aid would go toward the wealthier segment of Americans. The Institute on Taxation and Economic Policy found that 65% of the benefits would be drawn… -
media mention July 20, 2020 Forbes: Is Trump Using Next Stimulus Package To Undermine Funding Of Social Security And Medicare?
In 2011, when President Obama and a Republican Congress compromised on a temporary 2 percent payroll tax holiday, the left-leaning Institute on Taxation and Economic Policy (ITEP), calculated that 48… -
report July 16, 2020 Trade Deals Aren’t Enough: Fixing the Tax Code to Bring American Jobs Back
We all need the public sector to protect public health, keep us safe, educate our children, and much more. Companies, particularly multinational corporations, could not function without the legal, infrastructure, financial, regulatory, health, and transportation resources that the government provides.
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media mention July 16, 2020 KPFA: Death and taxes! or, why the rich get richer
Why and how the wealth of the very rich has grown, while all other public and private wealth has shrunk during COVID 19. Detailed analysis from the Institute on Taxation… -
media mention May 26, 2020 USA Today: Biden wants Amazon to ‘start paying their taxes’
Amazon’s position is that it pays what it owes according to the tax code. A recent analysis by the liberal-leaning Institute on Taxation and Economic Policy said that, despite reporting $29 billion of… -
media mention May 26, 2020 Politico Morning Tax: The Related Note
It’s not the first time Biden has called out Amazon on taxes, nor was it the first time the company fired back. “We pay every cent owed,” Amazon tweeted. “Assume… -
media mention May 24, 2020 Tampa Bay Times: They Pay Taxes, But There’s No Stimulus Money for Them
In Florida, passing the HEROES Act and extending the CARES Act retroactively would help an additional 277,240 people — those living in households where at least one member uses a… -
media mention May 22, 2020 Courier Post: NJ should provide COVID-19 aid to undocumented immigrants who pay income tax
About 475,000 immigrants without legal status live in New Jersey, according to 2018 figures by the Pew Research Center. Workers who do not have legal status pay more than $11.7 billion in state… -
media mention May 22, 2020 Orlando Sentinel: Is Wall Street Journal right? Is Florida “well-managed?” It depends
New York’s tax burdens are relatively even. The effective rate for New York’s poorest is 11.4 percent, compared to 11.3 for the top one percent and 12.4 for the middle.… -
blog May 22, 2020 What Biden Means By No Tax Increases on Anyone “Making Under $400,000”
Presidential candidate Joe Biden said on Friday that under his proposals, no one with income below $400,000 would pay higher taxes than they do now. Does this make sense? It… -
media mention May 21, 2020 Bloomberg:Energy Companies Reap Tax Breaks As They Brace For Virus Impact
But what makes oil and gas companies especially poised to take advantage of this provision is the cyclical nature of the commodity they produce and transport. “It’s not at all… -
media mention May 21, 2020 Orange County Register: Tax hike on vaping is the wrong priority at the wrong time
Compounding all of these problems is that the vaping tax hike would have the largest impact on those who can least afford it. The Institute on Taxation and Economic Policy… -
media mention May 20, 2020 Los Angeles Times:Stop discriminating financially against taxpayers without Social Security numbers
All told, the Institute on Taxation and Economic Policy estimated that 4.3 million adults and 3.5 million children were disqualified from the stimulus program. Read more -
media mention May 19, 2020 Orlando Sentinel: Make corporations – not teachers – pay up
In fact, the Institute on Taxation and Economic Policy found that Florida families that make less than $50,000 spend 8-12% of their annual income on local and state taxes while families… -
media mention May 19, 2020 Bloomberg: California Setting Rules for Finding Pot’s Napa Valley
The state also has a vested interest in protecting pot’s reputation. California cannabis, both recreational and medicinal, generated $395.4 million in taxes in 2018 and $629.2 million in 2019, the…