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media mention December 23, 2023 The Lever: Billionaire Gifts To Thomas: Generosity Or Taxable Income?
If billionaires’ largesse was designed to keep the justice on the high court, experts say the money could be considered a taxable payment. Read more. -
blog December 21, 2023 Everything You Need to Know About Proposals to Better Tax Billionaires
Tax policy may not be on the minds of most Americans during the final weeks of 2023, but billionaires with an eye on their own tax bills have been riveted by developments in D.C.
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media mention December 15, 2023 Reuters: Exxon’s Low US Tax Payments Ruffle Biden’s Climate Agenda
Exxon Mobil’s income tax payments to the U.S. government have dropped to 3% over the past five years – several times below the company’s 20-year average – on massive deductions… -
media mention December 14, 2023 Money: What Would Happen If The IRS Was Abolished?
What would happen if the U.S. actually did eliminate the IRS? When I posed this question to Joe Hughes, federal policy analyst at the Institute on Taxation and Economic Policy, he… -
ITEP Work in Action December 13, 2023 Keystone Research Center: Fair Taxation Can Help Achieve a More Just Pittsburgh
Over the past several years, federal funding via the American Rescue Plan (ARP) has temporarily boosted City of Pittsburgh revenues and allowed increased investment in affordable housing, workforce training, healthy… -
media mention December 9, 2023 HuffPost: The Estate Tax Has Hit A Historic Low In America
Thanks to policy changes, more and more of the country’s megarich are keeping their wealth in the family. Read more. -
media mention December 8, 2023 Washington Monthly: A Taxing Question for the Roberts Court
The justices are being asked to define income under the 16th Amendment, and their answer will have a huge effect on enacting taxes on extreme wealth. Read more. -
news release December 7, 2023 The Reach of the Ever-Shrinking Estate Tax is at a Historic Low
Contact: Jon Whiten ([email protected]) Last month when the IRS announced the inflation-adjusted 2024 tax brackets, it also adjusted the basic exemption to the federal estate tax. Next year, an individual… -
media mention December 6, 2023 CNBC: Supreme Court Hears Tax Case On ‘Income’
The Supreme Court is set to hear oral arguments Tuesday on a case that could affect broad swaths of the U.S. tax code and federal revenue. Read more. -
media mention December 6, 2023 The Messenger: How a $15,000 Case Before the Supreme Court Could Open the Door to a Wealth Tax
A $15,000 dispute before the Supreme Court could create billions of dollars in tax bills for rich people — or it could lead to massive government refunds to companies like… -
media mention December 5, 2023 Associated Press: Georgia’s Governor and Top Republican Lawmakers Say They Want To Speed Up State Income Tax Cut
Georgia’s Republican governor and legislative leaders want to speed up an already-planned cut in the state income tax rate. Read more. -
media mention December 3, 2023 South Florida Sun Sentinel: Editorial: America’s Deep Divide on Display in So-Called Debate
The staged TV confrontation on Fox News Thursday between Gov. Ron DeSantis and his California counterpart, Gavin Newsom, didn’t live up to the hype. You knew it wouldn’t. Read more. -
media mention December 3, 2023 Washington Post: Here’s How the Claims in the Ron DeSantis-Gavin Newsom Debate hold Up
The 90-minute “red state-blue state” debate hosted by Sean Hannity of Fox News featured a blizzard of statistics by Florida Gov. Ron DeSantis (R) and California Gov. Gavin Newsom (D). Here’s a… -
media mention December 3, 2023 TIME: Who Really Won in the DeSantis-Newsom Debate
If hurling insults, distorting facts, and pandering to Americans’ worst instincts are the hallmarks of leadership, then Florida Gov. Ron DeSantis emerged the winner in the debate with California Gov. Gavin Newsom.… -
blog December 1, 2023 With the Moore vs. United States Case, the Supreme Court Could Unleash Chaos on Our Tax System
On Tuesday, the U.S. Supreme Court will begin hearing oral arguments in Moore vs. United States, which could become the most important tax case in a century. A broad ruling could destabilize our tax system, enrich many profitable corporations, and widen existing economic and racial inequalities.
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ITEP Work in Action December 1, 2023 Center on Budget and Policy Priorities: States’ Recent Tax-Cut Spree Creates Big Risks for Families and Communities
State policymakers nationwide have embarked on a tax-cutting spree over the past three years, using the cover of temporary budget surpluses stemming from robust federal aid in response to COVID-19… -
media mention November 29, 2023 The Week: America Doesn’t Have a Wealth Tax. The Supreme Court Might Kill It Anyway.
Remember the wealth tax? It was a centerpiece of Sen. Elizabeth Warren’s 2020 presidential campaign, but the proposal — like her candidacy — didn’t end up going anywhere. But just because… -
blog November 21, 2023 Hidden in Plain Sight: Race and Tax Policy in 2023 State Legislative Sessions
Race was front and center in a lot of state policy debates this year, from battles over what’s being taught in schools to disagreements over new voting laws. Less visible, but also extremely important, were the racial implications of tax policy changes. What states accomplished this year – both good and bad – will acutely affect people and families of color.
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ITEP Work in Action November 21, 2023 Congresswoman Rosa DeLauro: Cuts To the IRS Would Protect Tax Cheats Over Honest, Hard-Working Families
Thank you Chairman Womack, Ranking Member Hoyer, and the subcommittee staff, especially Matt Smith and Philip Tizzani, for all the work that you do. This Financial Services and General Government… -
ITEP Work in Action November 17, 2023 North Carolina Budget & Tax Center: NC Leaders Are Shirking Their Responsibilities To Our Children, Our State by Revisiting Leandro Lawsuit
The announcement that the NC Supreme Court will rehear the court case that affirmed children’s constitutional right to a sound, basic education is just another way in which North Carolina’s… -
ITEP Work in Action November 17, 2023 Kentucky Center for Economic Policy: Local Sales Tax Amendment Could Lead to Wider Inequality Without Better Funding Local Services
Under Kentucky’s constitution, there are limits on the types of taxes the General Assembly may authorize local governments to levy, and local sales taxes are not allowed. The 2024 General… -
ITEP Work in Action November 10, 2023 Policy Matters Ohio: Tax Policy For the People
Every family in Ohio should be able to afford healthy food, a safe home, health care and the other elements of a good life. Ohio has the resources to make… -
media mention November 9, 2023 The Lever: The TurboTax Scam
Tax prep companies claim a government-run direct-file system would be expensive — but it could cost less than the federal subsidies going to the industry. Read more. -
media mention November 6, 2023 Bloomberg: Election-Day Ballot Measures Offer Preview of 2024 Fights
Ahead of next year’s presidential election, voters will weigh state and local proposals on abortion, taxes and housing. Read more. -
brief November 2, 2023 America Used to Have a Wealth Tax: The Forgotten History of the General Property Tax
Over time, broad wealth taxes were whittled away to become the narrower property taxes we have today. These selective wealth taxes apply to the kinds of wealth that make up a large share of middle-class families’ net worth (like homes and cars), but usually exempt most of the net worth of the wealthy (like business equity, bonds, and pooled investment funds).The rationale for this pared-back approach to wealth taxation has grown weaker in recent decades as inequality has worsened, the share of wealth held outside of real estate has increased, and the tools needed to administer a broad wealth tax have improved.