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media mention February 28, 2018 Politico Morning Tax: Amazon/taxes
The Institute on Taxation and Economic Policy’s finding that Amazon won’t pay any federal taxes for 2017 gets picked up back in Seattle. Read more -
media mention February 27, 2018 Seattle Post-Intelligencer: Amazon Paid No U.S. Income Tax
Matthew Gardner, senior fellow at the Institute on Taxation and Economic Policy, wrote about Amazon’s tax bill that won’t come due in a Feb. 13 blog post. Without being privy… -
media mention February 23, 2018 The Economist: The Spoils from American Corporate Tax Reform Are Unevenly Spread
Most are bonuses that amount to a small part of the total gains, leading sceptics to attribute the announcements to clever public relations. A few firms have gone further, announcing… -
media mention February 22, 2018 Business Insider: Facebook Co-Founder Wants the Richest Americans to Fund a Basic Income for 90 Million People
“We know that when people get modest amounts of cash, they use it smartly, their kids stay in school longer, health outcomes improve, and they’re happier,” Hughes said on Reddit.… -
blog February 21, 2018 Cuomo’s Tax Overhaul Response Is a Missed Opportunity
Any politician can score points by railing against President Trump and his wildly unfair, loophole-ridden tax law. But if New York’s working people find out they will be subjected to a new and complicated set of state tax rules all to help the richest 5 percent, they’ll wonder why a better solution that targets corporations and high-income earners who just received a sizable federal tax break, was not found. In the wake of the Trump-GOP tax law, this is a missed opportunity for lawmakers in New York to increase taxes on those who just benefited from a substantial tax cut.
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blog February 20, 2018 Why We’re Not Eternally Grateful for $1,000 Crumbs
Two narratives that intentionally obscure who benefits from the tax law are emerging. One focuses on the personal income tax cuts that will result in an increase in net take-home pay for many employees once their employers adjust withholding. Anecdotes abound of working people getting a $100 or more increase, after taxes, per paycheck, but the reality is that most workers will receive a lot less than that. Meanwhile, the wealthiest 1 percent of households will receive an average annual tax break of $55,000, an amount that nearly eclipses the nation’s median household income.
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media mention February 20, 2018 Bloomberg: Why Gas Taxes Aren’t Paying the Bills Anymore
A big part of the ups and downs in the above chart has to do with ups and downs in the price of gas, and this volatility is one reason why… -
media mention February 20, 2018 New York Times: When Calling an Uber Can Pay off for Cities and States
The new fees and taxes are often part of broader regulatory measures as states and localities scramble to update tax codes and laws that have not kept up with the… -
media mention February 20, 2018 Politico: EU Mulls Retaliation over Trump Tax Overhaul
European countries may fight back against U.S. President Donald Trump’s tax overhaul by arguing that it breaches World Trade Organization (WTO) rules, finance ministers said Tuesday. Their tough rhetoric came… -
media mention February 18, 2018 Concord Monitor: NH School Choice Bill Could Create a Tax Shelter for the Rich
Carl Davis, the research director at the Washington-based Institute on Taxation and Economic Policy, has written extensively about ETCs as tax shelters. Nationwide, about $1 billion in potential tax dollars… -
media mention February 16, 2018 Houston Chronicle: U.S. Economy Needs Immigrants to Grow
Half of unauthorized workers even file tax returns, according to the Institute on Taxation and Economic Policy. Many believe it will help them qualify some day for amnesty and legal… -
media mention February 15, 2018 The Augusta Chronicle: Georgia Governor Nathan Deal wants to slash state tax windfall
It is difficult to quantify how much the average taxpayer would be affected under current law. A middle income family in Georgia — making between $40,000 and $62,000 annually —… -
media mention February 13, 2018 CNBC: Trump’s Budget May Delay Future Tax Refunds
The president released his budget Monday for fiscal 2019, proposing $11.1 billion for the Internal Revenue Service, including $2.3 billion for tax filing and compliance applications and $110 million to… -
news release February 12, 2018 Two Months after Top-Heavy Tax Cuts, Trump Budget Proposes “Savings” by Making Cuts to Safety Net Programs
“In case it was not apparent after the White House pushed for a tax plan that overwhelmingly benefits corporations and the rich, the White House budget proposal is clear on what and whom it prioritizes: wealth over work, corporate interest before the public good.”
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media mention February 7, 2018 Vice News: The Trump Tax Cut Isn’t Trickling Down to Workers
That all added up to a massive PR campaign on behalf of the cuts that elided all of the bill’s negative consequences, like the decision by Kleenex maker Kimberly-Clark to… -
media mention February 2, 2018 Dallas Morning News: Look out N.Y., L.A. and Chicago: The New Tax Law Makes Dallas even stronger
Most of the individual and family savings from tax reform are going to high earners. In Texas, three-quarters of the upside will be claimed by taxpayers earning over $106,000, according… -
media mention January 31, 2018 In These Times: Cities Scrambling to Attract Amazon Because It “Creates Jobs” Are Being Sold a Lie
Indeed, it’s far more likely that businesses make decisions on where to locate based on a talented workforce and top-quality infrastructure than their tax rate. The Institute on Taxation and… -
media mention January 31, 2018 Bloomberg BNA: States in Pickle Over Deductions for Federal Taxes
Iowa lawmakers attempted in vain to repeal the deduction last year, and Alabama has considered repeal efforts as a way of offsetting the revenue loss that would occur if the… -
media mention January 31, 2018 Newark Star-Ledger: GOP lawmakers shouldn’t skew our numbers to defend Trump’s tax cuts
Below is an excerpt of an op-ed by ITEP deputy director Meg Wiehe. It’s well known that the GOP tax law approved in a rush at the end of last… -
media mention January 30, 2018 HuffPost: Companies Are On A Cheap Charm Offensive For Trump’s Tax Bill
Meanwhile, Walmart, the nation’s largest private employer, announced it would spend an additional $700 million over the next two years on employee pay, thanks to the tax bill. That’s less… -
media mention January 28, 2018 Tulsa World: Legislative Action Preventing Federal Income Tax Change from Blowing a $375 Million Hole in State Budget
December’s federal income tax reform bill would have decreased Oklahoma’s state income tax revenue by $375 million had legislators not “decoupled” from the federal standard deduction last year, analysts say.… -
blog January 26, 2018 Federal Tax Law Will Have Mixed Effect on Taxpayers’ State Tax Bills and States’ Revenue
Most states piggyback on federal law to some extent for their own taxes, especially personal and corporate income taxes. These states in particular must understand what the federal changes mean for their own tax codes and decide whether to remain “coupled” to changes in the tax bill, decouple from them or take other action in response.
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media mention January 25, 2018 Albany Times Union: Schumer Points to Layoffs to Counter GOP’s Rosy Tax-Law Forecast
In Schumer’s estimation, those with plenty of cash on hand will spend less of their tax windfall on bonuses and wages than on shareholder dividends and stock buybacks — which… -
media mention January 23, 2018 CBS News: Trump’s Economic Score: After Tax Cuts, Not too Much
The tax plan aims to pump $1.5 trillion worth of breaks into the nation’s economy over the next 10 years. Although the bulk of the benefits go to companies and… -
media mention January 23, 2018 Washington Examiner: New Tax Law Means Tax Hikes in Iowa Unless State Intervenes
he timing is auspicious because, for years, some conservatives in the state have resisted the idea of eliminating the deduction out of a fear that doing so would be a…