Institute on Taxation and Economic Policy (ITEP)

Oregon Center for Public Policy: Complete Reporting Would Make It Hard for Corporations to Hide Profits Overseas

April 10, 2024

Oregon can clamp down on multinational corporations shifting profits overseas, create a more level playing field for Oregon businesses, and raise millions in revenue by enacting “Complete Reporting” by large corporations. That law would make it difficult for multinational corporations to avoid Oregon corporate income taxes by artificially shifting profits earned in Oregon to subsidiaries […]

ITEP’s Miles Trinidad Testifies Against Weakening Hawai’i’s Estate Tax

April 9, 2024

HB 2653 would only exacerbate the regressive nature of Hawai’i’s state and local tax system and compound the preferential treatment of income derived from wealth.

Video: Rep. David Trone Discusses Corporate Tax Avoidance at House Budget Committee Hearing

April 1, 2024

His remarks were at a March 21, 2024 House Budget Committee hearing on President Biden’s proposed budget.

Biden Is Right: Corporate Tax Avoidance Has Big Problems That We Can Fix

Sensible reforms to the corporate tax system can help both crack down on corporate tax avoidance and ensure companies that are flourishing are paying their share for the public infrastructure that forms the building blocks of their success.

The Estate Tax Should Help to Level the Playing Field. Instead it’s Letting the Rich Get Richer.

The federal estate tax should ensure that family dynasties who’ve amassed enormous fortunes pay their fair share in taxes. But because policymakers have repeatedly doubled and tripled the immense sums that can be passed on before the tax kicks in, the estate tax today affects almost no one.

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States Move to Tax the Top in 2024

March 20, 2024 • By Marco Guzman, Miles Trinidad

States Move to Tax the Top in 2024

These forward-thinking states are demonstrating the wide variety of options for policymakers who want to raise more from the wealthiest people, rein in corporate tax avoidance, create fair tax codes and build strong communities.  

Contact: Jon Whiten ([email protected]) Chicago voters will on Tuesday decide whether to levy a higher real estate transfer tax on properties sold for more than $1 million to help fight homelessness. Regardless of the outcome in the Windy City, these “mansion taxes” are increasingly popular with local policymakers who are seeking innovative and progressive ways […]

Vermont Lt. Gov David Zuckerman: Fair Share

March 14, 2024

Today, I have an exceptionally important topic to talk about: taxes! Taxes have become a dirty word, and in many ways for good reason. Since the 1980’s there has been a significant shift in how much everyday people pay in taxes. Wealthy and high-income individuals have seen their marginal tax rates drop precipitously, while working […]

ITEP Statement & Resources: Tax Fairness and The State of the Union

When it comes to tax fairness, President Biden has a clear and compelling vision. Make large, profitable corporations and the wealthy pay their share, reduce taxes on low-income and working families with robust refundable tax credits, and use the trillions of dollars in new resources to create the kind of America we all want to see.

The White House Fact Sheet: President Biden Is Fighting to Reduce the Deficit, Cut Taxes for Working Families, and Invest in America by Making Big Corporations and the Wealthy Pay Their Fair Share

March 7, 2024

President Biden is fighting to make the tax system fairer while Republicans continue to push tax cuts for the wealthy and big corporations. The President’s plan delivers tax cuts for families with children and working Americans, invests in America, and reduces deficits by trillions of dollars by enacting a new billionaire minimum tax and cracking […]

Washington Post: Biden: Ban Deductions for Firms Paying Executives More Than $1 Million

March 7, 2024

President Biden will call for blocking corporations from deducting the costs of paying salaries over $1 million from their federal taxes in Thursday night’s State of the Union address, part of populist-oriented tax proposals in the speech as the 2024 campaign kicks off in earnest. Read more.

ITEP’s Kamolika Das Testifies on Pennsylvania’s Upside-Down Tax Code

March 4, 2024

Below is written testimony delivered by ITEP Local Policy Director Kamolika Das before the Pennsylvania House Finance Subcommittee on Tax Modernization & Reform on March 1, 2024. Good afternoon and thank you for this opportunity to testify. My name is Kamolika Das, I live in South Philly, and I’m the Local Tax Policy Director at […]

Contact: Jon Whiten ([email protected]) The tax overhaul signed into law by former President Donald Trump in 2017 cut the federal corporate income tax rate from 35 percent to 21 percent, but during the first five years it has been in effect, most profitable corporations paid considerably less than that. The details are explored in a […]

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Tax Policy to Reduce Racial Retirement Wealth Inequality

February 6, 2024 • By Brakeyshia Samms, Carl Davis

Tax Policy to Reduce Racial Retirement Wealth Inequality

Historic and ongoing discrimination have created stark racial disparities in the US, and the racial retirement wealth gap is one such example.

The Hill: House Panel Advances Tax Deal with Resounding Bipartisan Vote

January 20, 2024

A deal to reduce taxes for businesses and increase the child tax credit (CTC) made it out of the House Ways and Means Committee with broad bipartisan support Friday. Read more.

New York Times: What’s in the New Tax Deal?

January 19, 2024

Lawmakers on the House Ways and Means Committee will attempt a rare feat on Friday when they begin debate on something that rarely comes together in an election year: bipartisan tax legislation. Read more.

How the Fairness of State Tax Codes Affects Public Education

The findings of Who Pays? go a long way toward explaining why so many states are failing to raise the amount of revenue needed to provide full and robust support for our public schools.

Associated Press: GOP Lawmakers, Democratic Governor in Kansas Fighting Again Over Income Tax Cuts

January 18, 2024

Top Republican legislators in Kansas have renewed a fight with the Democratic governor over income tax cuts that have drawn bipartisan criticism as favoring the wealthy, with no sign of a break in an impasse that thwarted tax relief last year. Read more.

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Worthwhile Ideas for a Stronger and Fairer D.C. Tax Code

January 17, 2024 • By Andrew Boardman, Kamolika Das, Marco Guzman

Worthwhile Ideas for a Stronger and Fairer D.C. Tax Code

The nation’s capital has a once-in-a-decade opportunity to advance a stronger and fairer local tax code. New draft recommendations from a key advisory panel will help leaders make the most of the moment.

Yahoo Finance: Lawmakers Ink a Bipartisan Tax Deal to Expand the Child Tax Credit

January 17, 2024

A powerful bipartisan duo announced a significant tax deal Tuesday that would combine a temporary expansion of the child tax credit with long-sought provisions for the business world. Read more.

Ring of Fire: You’ll Be Sick When You Find Out How Little The Top 1% Are Paying In Taxes

January 17, 2024

In 41 states across the country – and yes, that includes plenty of Democrat-controlled states – the tax rates for the top 1% of income earners and corporations are actually LOWER than the tax rates for EVERY OTHER income group. Read more.

Axios: Bipartisan Deal Would Expand Child Tax Credit, Lift Half-Million Children Out of Poverty

January 17, 2024

Congressional committee chairs reached a deal Tuesday that would expand the federal child tax credit, after three years of pushing by Democrats and progressives. Read more.

Testimony of Prosperity Indiana’s Andrew Bradley Before the Indiana State and Local Tax Review Task Force

January 16, 2024

On January 10, Andrew Bradley, Policy Director at Prosperity Indiana, testified before the State and Local Tax Review Task Force of the Indiana General Assembly. During his presentation, Bradley highlighted Prosperity Indiana’s tax policy priorities and ITEP’s Who Pays? findings. To watch the video, click here (Bradley’s testimony begins at 1:55:40) To read written testimony […]

ITEP Statement on Federal Tax Deal on Child Tax Credit, Business Tax Breaks

Child poverty is a problem. Corporations paying too much in taxes is not. Unfortunately, many members of Congress have refused to direct resources to help children in poverty unless an equal amount of resources is simultaneously directed towards corporate tax cuts.