Institute on Taxation and Economic Policy

Hawai’i Appleseed: How a Second Trump Presidency Could Impact the Pocket Books of Hawaiʻi’s Working Families

December 22, 2024

With President-elect Trump preparing to return to the White House in 2025, it’s worth examining how his proposed policies could impact Hawaiʻi’s  economy, tax system and the household budgets of local working families. Read more.

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State Rundown 12/19: Anti-Tax Playbook in Action

December 19, 2024 • By ITEP Staff

State Rundown 12/19: Anti-Tax Playbook in Action

The anti-tax playbook has been on full display in recent weeks as state policymakers run their offenses against public services and shared priorities. As the playbook dictates, if you have a little breathing room in your budget, propose cuts to the one major tax (personal income tax) that tends to ask more of those who […]

Accountable.US: Trump IRS Pick Billy Long Took $248,500 From 17 Top Tax-Avoiders

December 19, 2024

Accountable.US has found that Long’s Congressional campaign committees took $248,500 from 17 top tax-avoiding corporations. These 17 companies paid an astonishing average effective tax rate of -0.4% on over $289 billion in collective profits they made in the first five years of the 2017 Trump tax cuts—which Long voted for. Read more.

Gov. Jay Inslee: Gov. Inslee Releases Future-Focused Budget Proposal

December 18, 2024

Today, Gov. Jay Inslee released a balanced budget proposal that protects progress on the programs and services that working families and businesses depend on — public safety, education, early learning, housing and behavioral health. Read more.

MSNBC: With the Election Over, Republicans Are Suddenly Interested in Cutting Social Security

December 5, 2024

It’s hard to find many things that 80% of Americans agree on, but they exist. In various polls taken earlier this year, 4 out of 5 Americans said Joe Biden was too old to run for a second term, the government is doing a bad job dealing with migrants at the Mexican border and the cost of prescription drugs is unreasonable. […]

Average Louisianans Will Pay for Gov. Landry’s Tax Break for the Rich

Tax cuts for the wealthy and corporations will not make Louisiana more competitive. Rather, they will blow a hole in the state budget while asking low- and middle-income working families to make up the difference. Gov. Landry and the Louisiana legislature would make much better use of their time looking for ways to make Louisiana’s tax structure fairer and more capable of adequately funding important priorities.

The Associated Press: Louisiana Lawmakers Pass Income and Corporate Tax Cuts, Raising Statewide Sales Tax to Pay For It

November 23, 2024

Louisiana’s GOP-dominated legislature passed tax cuts on personal and corporate income on Friday in exchange for a statewide sales tax increase. Read more.

Sen. Warren: ITEP Data Shows Trump’s Tax Proposals Won’t Help Working Families

November 20, 2024

Sen. Warren cited ITEP’s research at a November 20, 2024 hearing of the U.S. Senate Committee on Banking, Housing, and Urban Affairs. To read her remarks, click here. To read the research, click here.

Newsweek: Will the 2024 Election of Donald Trump Impact Social Security?

November 12, 2024

Social Security is a critical part of millions of Americans’ lives, providing a financial safety net for retirees, disabled individuals and survivors of deceased workers. For many retirees, Social Security benefits are a primary source of income, helping them cover essential living expenses such as housing, food and healthcare. Read more.

NPR’s Marketplace: The Trump 2.0 Economy

November 10, 2024

Donald Trump won a second term as president this week, promising an end to the “inflation nightmare” through some potentially inflationary policies. Here’s what the economy could look like under Trump 2.0. Read more.

The Independent: Trump Says His Mass Deportation Plan Has ‘No Price Tag’ As He Prepares to Boot Millions from the Country

November 8, 2024

Trump’s militarized removals could cost billions while upending the economy and ripping families and communities apart. Read more.

Searchlight New Mexico: Donald Trump’s Victory Puts All Eyes Back on the Border

November 7, 2024

On October 31, Donald Trump landed in Albuquerque at a private aviation hangar, a location he chose for a rally in part because he owes the city half a million dollars from a 2019 event at the Santa Ana Star Center, and he wasn’t welcome at the downtown convention center. He stepped off the plane, […]

Washington State Standard: Washington’s Capital Gains Tax Survives Repeal Effort

November 7, 2024

An initiative to repeal Washington’s capital gains tax, which levies a 7% tax on the sale or exchange of long-term assets like stocks, bonds and business interests, was defeated Tuesday. Read more.

Money: Donald Trump Is the President-Elect. Here’s What It Means for Your Wallet

November 7, 2024

Early this morning, the Associated Press declared Republican nominee Donald Trump the winner of the 2024 presidential election. And though nothing is certain, we do have a few clues as to how a second Trump presidency could affect Americans’ wallets in the short term. Read more.

Money: Trump vs. Harris: How Could Your Tax Bill Change Under Each Candidate?

November 2, 2024

Both Kamala Harris and Donald Trump have made a point of talking about taxes in the final days leading up to the presidential election. This is no accident: With more than 144 million taxpayers filing individual income tax returns this year, it’s a topic a huge swath of voters are likely paying attention to. Read […]

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How Tax Decisions in 2025 Can Advance Racial Justice

October 30, 2024 • By Brakeyshia Samms, Jon Whiten

How Tax Decisions in 2025 Can Advance Racial Justice

In the coming 14 months, federal lawmakers should address longstanding issues of racism in the tax code. With a presidential election this fall and many provisions of 2017’s Trump tax law expiring at the end of 2025, the debate over tax policy and economic fairness is in full swing.

California Budget & Policy Center: California’s Undocumented Residents Make Significant Tax Contributions

October 29, 2024

California’s undocumented residents contribute nearly $8.5 billion in taxes, playing a crucial role in supporting public services while remaining excluded from essential programs. Read more.

ITEP’s Brakeyshia Samms on Race and the 2017 Trump Tax Law

October 28, 2024

On October 25, 2024, ITEP Policy Analyst Brakeyshia Samms discussed race and the 2017 Trump tax law on the webinar “The 2025 Sunsetting of Tax Cuts and Jobs Act (TCJA): Tax Justice on the Frontlines,” which was hosted by the American Bar Association’s Section of Civil Rights & Social Justice. Slides can be downloaded here […]

ITEP’s Eli Byerly-Duke on Oklahoma’s Sales Tax Relief Credit

October 28, 2024

On October 23, 2024, ITEP Policy Analyst Eli Byerly-Duke presented to an interim study in the Oklahoma House focused on modernizing the Sales Tax Relief Credit. Click here for slides Click here for video (his remarks begin around the 1:06:00 mark)

AFSCME: Trump’s Tax Plans Would Benefit the Rich, Harris’ Plan Would Benefit Everyone Else

October 24, 2024

Donald Trump’s tax plan would cut taxes for the wealthiest Americans, whereas Kamala Harris’ plan would cut taxes for everyone but the wealthy. That’s the takeaway from a new analysis of the two candidates’ tax plans. Read more.

The Marshall Project: Fact-checking Over 12,000 of Donald Trump’s Statements About Immigration

October 23, 2024

The Marshall Project used text analysis to identify 13 major claims about immigration in over 350,000 of Trump’s public statements from Factba.se, some of which Trump has made 500 times or more. All of them are untrue or deeply misleading. Read more.

Accountable.us: Top 15 Corporate Beneficiaries of Trump Tax Giveaway Law Have Since Spent $839B on Shareholder Handouts

October 23, 2024

The 15 largest corporate beneficiaries of the Trump tax law used their savings to collectively spend $839 billion on stock buybacks and shareholder dividends in the years following the law’s passage. Read more.

Contact: Jon Whiten ([email protected]) The tax proposals announced by Vice President Harris would, on average, lead to a tax increase for the richest 1 percent of Americans and a tax cut for all other income groups, according to a new in-depth analysis by the Institute on Taxation and Economic Policy (ITEP). This is in stark […]

CNN: Trump’s Mass Deportation Plans Would Be Costly. Here’s Why

October 19, 2024

Former President Donald Trump vows he’ll kick millions of undocumented immigrants out of the US if he’s reelected. Read more.

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Trump’s Tax Plan: Like Robin Hood in Reverse

October 7, 2024 • By ITEP Staff

Proposed tax changes would give richest 5% a tax cut, raise taxes on all other groups Contact: Jon Whiten ([email protected]) The tax proposals announced by former President Trump would, on average, lead to a tax cut for the richest 5 percent of Americans and a tax increase for all other income groups, according to a […]