whiten-jon – Page 39

media mention March 17, 2020
Talking Points Memo: Why The Checks-For-Everyone Idea To Ward Off A Recession Is Gaining Steam

An analysis by the Institute on Taxation and Economic Policy found that the top 20 percent of income earners would reap two-third of the benefit of a payroll tax cut,…
media mention March 12, 2020
Bloomberg Tax: Virus Panic Prompts Trump Call for Tax Relief

A payroll tax cut, something the administration has floated, would be an ineffective stimulus measure to combat the virus’s economic fallout, according to the Institute on Taxation and Economic Policy.…
media mention March 12, 2020
New York Times: Trump’s Payroll Tax Cut Would Dwarf the 2008 Bank Bailout

The largest gains in dollar figures would go to households earning more than $123,000 a year, according to an analysis by the Institute on Taxation and Economic Policy in Washington.…
media mention March 12, 2020
Washington Examiner: In cutting payroll taxes to spur the economy, Trump would be following in Obama’s footsteps

The Institute on Taxation and Economic Policy, a left-of-center nonpartisan tax policy organization, found that Obama’s payroll tax cut didn’t benefit the lower and middle class very well. The study…
media mention March 12, 2020
The Sacramento Bee: Trump has big plans for California highway repair, but no plan to pay for it

While there’s no way to know how much states increases would be curbed if federal taxes were higher, if at all, Carl Davis, research director at Washington, D.C., Institute on…
media mention March 11, 2020
Politico: That’s a lot of tax relief

Just looking at sales and excise taxes, the eight states where recreational pot was legal in 2019 raised close to $2 billion in revenue, according to Carl Davis of the…
blog March 9, 2020
TurboTax Is a Case Study for Why the IRS Should Administer Free File Program

TurboTax and other online tax preparation companies rely on complicating tax filing and limiting competition as part of their business model.
media mention March 8, 2020
Washington Post: Virginia General Assembly approves higher gas tax, speed cameras and cellphone ban

Virginia joins 31 states that have raised their gas taxes or changed formulas for them in the past decade, responding to declines in revenue, according to the nonprofit Institute on…
media mention March 4, 2020
Market Watch: This is how much American workers saved during the first year after Trump tax overhaul

Focusing on personal taxes didn’t tell the whole story, according to Steve Wamhoff, director of federal tax policy at the progressive Institute on Taxation and Economic Policy, or ITEP. “The…
blog March 3, 2020
Administration Once Again Touts Misleading Information on 2017 Tax Law

The Trump administration has remained consistently on message about its 2017 Tax Cuts and Jobs Act. More than two years after the passage of the law, Treasury Secretary Steve Mnuchin…
media mention March 3, 2020
Connecticut Mirror: After one alarming tax fairness study, CT is wary of launching a second

Gasoline distributors shift the entire cost of Connecticut’s 8.1% wholesale fuel tax onto local filling stations, which then pass it all onto motorists — who also pay a 25-cents-per-gallon retail…
media mention February 28, 2020
MSNBC: Team Trump wants even more corporate tax breaks in a second term

For another, corporations clearly don’t need a lower rate since so many of them aren’t even paying taxes at the current rate. Late last year, the Institute on Taxation and…
media mention February 25, 2020
The Chicago Tribune: Recreational marijuana sales in Illinois generated more than $10 million in tax revenue in January

Many dispensaries continue to sell recreational marijuana only on certain days of the week or for restricted hours. Though greater volumes of product continue to filter into the market from…
media mention February 25, 2020
The Hill: Financial trade tax gains traction with 2020 Democrats

Democratic presidential candidates across the ideological spectrum are calling for taxes on financial trades, breathing new life into an idea that for many years was promoted primarily in progressive circles.…
media mention February 24, 2020
Anchorage Press: The Pocketbook Reasons Most Alaskans Should Prefer an Income Tax to a Statewide Sales Tax

An analysis in 2017 by the Institute on Taxation and Economic Policy (ITEP) produced similar results. All people in households who make less than $73,000 per year—and some in higher-earning…
media mention February 20, 2020
MarketWatch: Jeff Bezos spent more on this house in Beverly Hills than Amazon has paid so far in federal corporate income tax for 2019

Amazon listed a “summary” of its 2019 U.S. taxes as including $2.4 billion in other federal taxes, including payroll taxes and customs duties, and more than $1.6 billion in state…
media mention February 20, 2020
Washington Post: White House advisers privately float minimum tax on corporations amid blowback over 2017 GOP law

Opponents of the tax law such as presidential candidate Sen. Bernie Sanders (I-Vt.) have assailed the GOP and multibillion-dollar corporations for allegedly paying $0 in federal taxes under the new…
media mention February 20, 2020
Minneapolis Star-Tribune: Tax reform may be more lucrative than advertised for corporations

Many of Minnesota’s major corporations paid lower tax rates in 2018 than new, dramatically lower corporate tax rates. That was among the findings in an analysis of government filings by…
media mention February 20, 2020
Factcheck.org: FactChecking the Las Vegas Democratic Debate

There were indeed reports last year, prompted by the findings of the left-leaning Institute on Taxation and Economic Policy, indicating that the two companies and others paid no federal income taxes in 2018. The…
news release February 19, 2020
White House Advisors’ Push for Corporate ‘Minimum Tax’ Will Not Fix the Tax Law

A White House proposal to follow Trump’s massive corporate tax cuts with a minimum corporate tax would be like shooting a person on Fifth Avenue and then offering them a band aid.
blog February 12, 2020
2021 Trump Budget Continues 40-Year Trickle-Down Economic Agenda

The 2017 Tax Cuts and Jobs Act may as well have been called the Promise for Austerity Later Act.
media mention February 12, 2020
Yahoo! Finance: In Search of the ‘Disappearing Corporate Income Tax’

Those losses, driven by generous rule-writing and interpretations of the 2017 tax law by the U.S. Treasury, are so substantial that they were deemed “tax cuts 2.0” by the liberal-leaning…
blog February 12, 2020
Hearing Witness: Trump Administration Giving Tax Breaks Not Allowed by Law

The Treasury Department, tasked with issuing regulations to implement the hastily drafted Trump-GOP tax law, is concocting new tax breaks that are not provided in the law. This is the short version of what we learned while watching Tuesday’s House Ways and Means Committee hearing on “The Disappearing Corporate Income Tax.”
blog February 11, 2020
Why Today’s Congressional Hearing on “The Disappearing Corporate Income Tax” Is Imperative

The United States is collecting a historically low level of tax revenue from corporations. In 2018, corporate tax revenue as a share of gross domestic product (the nation’s economic output)…
blog February 10, 2020
President Trump’s 2021 Budget: Promises Made, Promises Broken

President Trump has kept only one of his promises–his pledge to lower taxes for corporations and their investors.

The budget plan he released today again breaks his promise to reject cuts in Medicaid that would affect millions of people. His budget once again fails to eliminate the deficit, much the less the national debt, during his presidency as he promised. It cuts trillions from safety net programs and student aid programs despite his pledge to stand for forgotten Americans.

ITEP's Research Priorities