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media mention December 19, 2017 Bloomberg: These Are the Tricks States May Use to Get Around the SALT Deduction
Republican Senate and House negotiators in Washington agreed last week on a $10,000 cap on state and local tax deductions, or SALT. In high-tax states, that’s bad news. Personal taxes… -
media mention December 19, 2017 CNBC: Here’s How the Final GOP Tax Bill Would Hit Your Wallet
Your odds of being hit with a bigger bill depend on a number of provisions in the more than 500 pages of new rules. To better show the impact of… -
media mention December 19, 2017 New Republic: The Republican Tax Bill Is a Gift to the Washington Blob
Corker, who is already under federal investigation for alleged insider trading involving a real-estate firm, spent the weekend making a series of less-than-convincing statements justifying his switch. He first told… -
media mention December 19, 2017 International Business Times: Senator Orrin Hatch Says He Wrote Tax Provision At Center Of Corker Controversy
Experts familiar with the specific workings of how the tax break is formulated said that while there are some general similarities between the House bill and the conference report, Hatch… -
media mention December 19, 2017 BBC: Will Trumps Plan Trigger a Tax War?
To offset the revenue losses, the US is imposing a one-time tax on profits held abroad, levied at 15.5% for cash and 8% for illiquid assets. Depending on your perspective,… -
media mention December 19, 2017 CBS: Here’s a Surprising Winner in the Tax Bill
One of the biggest beneficiaries of the tax overhaul bill progressing through Congress might not seem obvious. But foreign investors stand to come out ahead. Although President Donald Trump seeks… -
news release December 19, 2017 Congress Snubs the Will of the People, Appeases Wealthy Donors
The 2010 Citizens United decision shoved open already leaky floodgates that have allowed the well-heeled to dictate our nation’s electoral outcomes and public policies. Lawmakers have been clear that their ‘donors’ and ‘corporate CEOs’ are the driving force behind this tax overhaul, and they have been content to ignore opinion polling that indicates the public is against this legislation by a margin of 2-to-1.
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media mention December 17, 2017 BBC: Will Trump’s Tax Plan Trigger a Tax War?
Depending on your perspective, the measure either captures tax that firms otherwise would have avoided, or provides companies with a major break on what they would have otherwise owed. “Allowing… -
news release December 17, 2017 ITEP 50-State Distributional Analysis of Final House-Senate Tax Bill
Like the initial House and Senate tax bills, the final tax legislation reserves the greatest share of the benefit for the wealthy and foreign investors and would hike taxes for average taxpayers in the lowest-earning three-fifths of households.
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news release December 15, 2017 Corporations and the Rich Get Everything They Want in Pending Tax Bill, Working People, Not So Much
Nearly 30 years ago, Trump was well connected enough that he was able to go to Congress and testify about how tax changes affected his business. Ordinary working people are rarely lucky enough to talk about their personal experiences in front of a congressional committee. So if they want to make their views known about the catastrophe of 2017, it will have to be in election of 2018.
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media mention December 15, 2017 Associated Press: Will U.S. Companies Put Overseas Cash to Work? Don’t Bet on It.
The left-leaning Institute on Taxation and Economic Policy notes that the lower one-time rate would amount to a corporate tax break worth $454 billion in the Senate bill and $458… -
media mention December 15, 2017 Politifact: Permanent tax cuts for the rich, eventually tax hikes for all middle-class families?
The net tax cuts going to the richest 1 percent increases from about 34 percent in 2019 to 47 percent in 2027 under the House bill, according to the Institute… -
media mention December 15, 2017 Boston Globe: What You Need to Know about the Most Recent Changes to the GOP Tax Bill
So when the standard deduction gets bigger, as it would under the Republican bill, itemizing will inevitably become more rare. Likely much more rare. Here in Massachusetts, the number of… -
December 15, 2017 Lawmakers should not allow monied interest to trump the voices of their constituents.
You’d have to subscribe to the bizarre, Orwellian theory that middle-income people’s economic anxiety will somehow be assuaged by watching the rich grow richer to believe that the pending plan… -
media mention December 14, 2017 Los Angeles Times: Let the Games Begin
In the compromise most recently reached by House and Senate Republicans, taxpayers would be able to deduct up to $10,000 in state and local taxes, including property taxes. That’s an… -
media mention December 14, 2017 PBS: Working Long Hours Adds Hurdle for Undocumented Students
Currently, about 87 percent of the young people in the DACA program are employed, and America’s 1.3 million DACA-eligible youth, including those who haven’t enrolled, contribute an estimated $2 billion… -
media mention December 14, 2017 Reuters: Don’t Expect a Post-Card Size Tax Return
A key driver of this, according to independent analyzes, would be a proposed doubling of the standard deduction and a curtailment of the deduction for state and local tax payments.… -
news release December 13, 2017 ITEP Statement on Alabama’s Special Election
What voters want—the people who put elected officials in office—matters. Members of Congress should take pause before proceeding with their profoundly unpopular tax bill that the vast majority of voters have said lawmakers should not pass.
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media mention December 8, 2017 Boston Globe: Look our Wealthy Boston Suburbs, Here Comes the GOP Tax Bill
Most Massachusetts taxpayers would see their taxes go down in 2019, by an average of over $2,000. But a study by the left-leaning Institute on Taxation and Economic Policy predicts… -
media mention December 8, 2017 CNBC: This Chart Shows How the GOP Tax Plan Will Hit Your Wallet
To better show the impact of these factors, analysts at the Institute on Taxation and Economic Policy crunched the numbers and came up with an estimate of how individual households… -
media mention December 8, 2017 Salon: There’s a Reason Why “Corporate America” May Be a Stretch
So when taxes of “American” corporations are cut, foreign investors get a windfall. The Institute on Taxation and Economic Policy estimates that the Senate majority’s tax bill would give foreign… -
media mention December 8, 2017 New Republic: Tax Reform to Own the Libs
According to analysis from the Institute on Taxation and Economic Policy, New York, New Jersey, Maryland, and California would pay $17 billion more in taxes by 2027, while Texas and… -
media mention December 8, 2017 Mother Jones: Republican Plan Threatens School Funding to Pay for Corporate Tax Cuts
In New Jersey, 41 percent of taxpayers write off state and local taxes, averaging a $17,200 deduction. In Texas, 22 percent deduct an average of $7,600 apiece. Taxes and the cost of… -
media mention December 8, 2017 Politifact: Paul Ryan’s partially accurate claim that House tax bill saves typical Wisconsin household $2,000
The $2,081 savings figure is correct, according to experts at four think tanks we contacted: Amir El-Sibaie, an analyst at the Tax Foundation; Chuck Marr, director of federal tax policy… -
media mention December 8, 2017 Reuters: Millions Would Stop Bothering with Mortgage, Charity and Property Tax Deductions
Millions of households would no longer benefit from federal tax deductions for charity donations, mortgage interest payments and property tax under Republican tax plans being debated in the U.S. Congress,…