Institute on Taxation and Economic Policy

ITEP's Research Priorities

Minnesota Public Radio: Are Minnesotans Happy with President Trump’s Tax Cuts?

April 15, 2019

Carl Davis, ITEP’s research director, participated in this half-hour segment on how the public feels about the 2017 Trump-GOP tax cuts. Listen  here or get more info here: https://www.mprnews.org/listen?name=/minnesota/podcasts/kerri-miller/2019/04/15tax_day_20190415_64.mp3

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Some Helpful Facts for Tax Day 2019

April 15, 2019 • By Alan Essig

For Tax Day, ITEP has released several new reports that tell a broad story about our nation’s federal, state and local tax systems, providing important details about taxes we all pay and research on the tax-paying habits of Fortune 500 corporations. And of course, we have a trove of other tax policy resources.

Hill Reporter: Corporations Getting Hundreds Of Millions In Tax Rebates, Thanks Mainly To Trump

April 14, 2019

At least 60 companies reportedly owed nothing on their federal taxes for the year 2018, according to research compiled by the Institute on Taxation and Economic Policy. That number is twice as much as the previous year’s findings. The report found that the companies identified by ITEP were collectively “able to zero out their federal […]

Connecticut Post: Pot Tax Rate Key to Driving Down Illegal Market in Conn.

April 14, 2019

But potency-based taxation requires good laboratories and technology to accurately test THC levels, said Uetake who teaches marketing at Yale’s School of Management. “Reliability and replicability of testing remain problematic,” wrote Carl Davis, Misha E. Hill and Richard Phillips of the Institute on Taxation and Economic Policy in a 2019 policy paper. “Cannabis testing laboratories […]

The Intercept: Don’t Fall for the Right’s Favorite Lie About Taxes

April 13, 2019

So what does the overall U.S. tax system look like when you take all of this into account? The Institute on Taxation and Economic Policy, or ITEP, a progressive Washington, D.C. think tank, is the only organization that studies this in detail. Each year, they publish a report called “Who Pays Taxes in America?” This […]

CBS News: 60 of America’s Biggest Companies Paid no Federal Income Tax in 2018

April 12, 2019

Big companies have long relied on strategies to reduce their tax bills. But the new tax law is making it even easier, with a new analysis finding that 60 profitable Fortune 500 companies paid no taxes on a total of $79 billion of profits earned in 2018. The companies, which include tech giants such as […]

New York Times: Let Undocumented Immigrants Drive

April 12, 2019

There are an estimated 725,000 undocumented immigrants in New York State, making up more than 5 percent of the labor force in 2016, according to the Pew Research Center. They pay $1.1 billion in state and local taxes each year, the Institute on Taxation and Economic Policy estimates. Read more

Virginia Business Magazine: Dominion, PFG, Gannett paid no federal income taxes in 2018

April 12, 2019

Some of Virginia’s biggest companies did not pay any federal income tax this year, according to a new report from a nonpartisan think tank. Dominion Energy, Performance Food Group and Gannett paid no federal income tax for 2018 U.S. income, a report from the Institute on Taxation and Economic Policy (ITEP) shows. The companies did […]

Sacramento Observer: California Must Champion the Working Class

April 12, 2019

Aside from major expenses, such as the skyrocketing cost of housing, exacerbating the problem is California’s high regressive taxes, such as those on sales and gasoline. Lower-income workers pay a disproportionately higher amount of their income on regressive taxes – hurting their ability to support themselves in expensive areas across the state. According to the […]

Think Progress: Trump Tax ‘Cut’ Actually Increased Taxes for 10 Million American Families, Report Finds

April 12, 2019

The Center for American Progress released its calculations on Friday, based on data from the non-partisan Institute on Taxation and Economic Policy. It found that 10,260,263 American families saw a tax hike last year, thanks to the president’s 2017 Tax Cut and Jobs Act. (ThinkProgress in an editorially independent news site housed at the Center […]

Paste Magazine: Meet the 60 Giant Corporations Who Didn’t Pay a Dime in Federal Taxes Under Trump’s Plan

April 12, 2019

As someone who just came face-to-face with his 2018 tax bill this very morning, and whose hands have stopped shaking just enough to accurately pound the keys on this keyboard, the information I’m about to convey is somewhere between “vexing” and “wildly infuriating,” and is only somewhat mitigated by the fact that the injustice is […]

Yahoo! Finance: Not Just Amazon: 60 Big Companies Paid $0 in Taxes under Trump Law

April 12, 2019

Big businesses are faring better than ever under the Trump era tax law, the Tax Cuts and Jobs Act (TCJA). According to analysis from the Institute on Taxation and Economic Policy (ITEP), 60 Fortune 500 companies avoided paying all federal income tax in 2018 (with their total average effective tax rate being roughly -5%). That’s more than three […]

Washington Post: Elizabeth Warren Wants to Make It Simpler to File Taxes

April 12, 2019

Under current law, corporations can report large sums of annual profit to Wall Street and investors, while still using loopholes to pay no taxes to the feds. According to a study released Thursday by the Institute on Taxation and Economic Policy, at least 60 Fortune 500 companies paid nothing to the federal government in taxes […]

Alternet: Twice as Many Companies to Pay Zero Taxes for 2018 Due to Trump’s Tax Gift to the Rich and Powerful

April 12, 2019

You may owe taxes on your salary over the last year, but many Fortune 500 companies won’t pay squat on billions in profits, according to an analysis by the Institute on Taxation and Economic Policy. The 2018 tax rate for at least 60 profitable Fortune 500 companies will be virtually nothing or even less—which is about […]

The Fiscal Times: More Big Companies Paying Zero Taxes

April 12, 2019

Sen. Warren’s corporate tax proposal came the same day as a new report from the Institute on Taxation and Economic Policy that says at least 60 large U.S. companies paid no taxes in 2018 – twice the number the group found in 2017, before the GOP tax cuts went into effect. Those 60 companies had […]

Investor’s Business Daily: Amazon And Walmart Have A Titans’ Spat Over Minimum Wage, Taxes

April 12, 2019

The story cited a report from the Institute on Taxation and Economic Policy that Amazon will pay nothing in federal income taxes for the second year in a row. Read more

TPM: Warren Unveils Plan for $1 Trillion in Taxes on Corporations

April 12, 2019

Warren’s plan is aimed at large corporations — ones that have generally paid lower tax rates than smaller companies in recent years. The GOP tax cut law nearly doubled the number of publicly held companies that paid no federal taxes from 30 to 60 in the last year alone, according to a recent study from […]

The Intercept: Elizabeth Warren Has a Novel Idea

April 12, 2019

Under President Donald Trump’s tax overhaul, the Tax Cuts and Jobs Act, the corporate tax rate dropped from 35 percent to 21 percent, making it easier for companies to avoid paying taxes. This year, twice as many companies are paying zero taxes on their billions of profit, NBC News reported. At least 60 companies reported […]

Huffington Post: 60 Top Corporations Paid $0 Federal Taxes Under Trump Tax Law

April 12, 2019

President Donald Trump’s new tax law aided corporations so radically that twice as many companies paid no federal taxes whatsoever in 2018, despite billions of dollars in profit, according to a new study. Amazon, Netflix, Chevron, Eli Lilly, Delta Airlines, General Motors, IBM and Goodyear were among the tax-free corporate titans, according to an analysis by […]

Daily Mail: The Number of U.S. Companies Paying Zero Federal taxes DOUBLED when Trump’s Tax Plan Took Effect in 2018

April 12, 2019

The change cut the tax rate from 35 percent to 21 percent and allowed companies to take advantage of deductions, tax credits and rebates. That change alone is projected to save corporations $1.35 trillion over the next decade, according to the Joint Committee on Taxation. ‘We know that there’s this pretty glaring contrast between what […]

Washington Post: The Democrats new Tax Plan Is Their Clearest, Most Efficient Blueprint Yet

April 11, 2019

Just in time for Tax Day, we have new insight into the dueling partisan visions for the U.S. tax system. We already knew that the GOP’s 2017 tax law mostly benefited corporations and the wealthy; that’s old news. But on Thursday, we got some illustrative examples, courtesy of the Institute on Taxation and Economic Policy. The organization found that […]

NBC News: Twice as Many Companies Paying Zero Taxes under Trump Tax Plan

April 11, 2019

The controversial Tax Cuts and Jobs Act, signed by President Donald Trump in December 2017, lowered the corporate tax rate to 21 percent from 35 percent, among other cuts. That’s partly to blame for giving corporations an easier way out of paying taxes, said Matthew Gardner, an ITEP senior fellow and lead author of the […]

NBC News: Warren Targets Big Business with $1 Trillion ‘Profits’ Tax

April 11, 2019

The 2020 presidential hopeful said her “real corporate profits tax” is aimed at companies that report large annual gains but pay little in taxes thanks to a variety of tax credits and deductions that are available to lower their overall bill. An analysis by the Institute on Taxation and Economic Policy, a left-leaning think tank, […]

The Hill: Report Finds Twice as Many Companies Will Pay Zero Tax This Year

April 11, 2019

The report cites data released Thursday from the left-leaning Washington, D.C., think-tank the Institute on Taxation and Economic Policy (ITEP). ITEP reported that the companies listed used a “diverse array of legal tax breaks,” including accelerated depreciation, stock options and energy-related tax subsidies to “zero out” their federal income taxes. According to the report, some of the companies […]

Fast Company: Amazon and Netflix Are among Many Companies Paying Zero Federal Taxes under Trump’s Tax Law

April 11, 2019

Tax season is upon us–and by us, I mean everyone who is not Amazon, Netflix, Chevron, or pharmaceutical manufacturer Eli Lilly and Co., because they are among the 60 or so corporations that paid zero dollars in federal income taxes on the billions of dollars in profits they earned in 2018. That’s according to a new analysis, released […]