Institute on Taxation and Economic Policy

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.

Video: The Young Turks Explains Upside-Down State Tax Codes

January 16, 2024

An analysis by the Institute on Taxation and Economic Policy (ITEP) show that lower and middle class citizens are paying way a higher tax rate their rich counterparts. Rayyvana, David Shuster and Wosny Lambre discuss on The Young Turks. Read more.

New Mexico Taxation and Revenue Department: New Mexico Among Top 10 for Tax Equity

January 15, 2024

New Mexico is now among the top 10 states for most equitable tax structures thanks mostly to changes signed into law by Gov. Michelle Lujan Grisham over the past five years, according to a new report by the Institute on Taxation and Economic Policy (ITEP). Read more.

Washington State House Democrats: WA Improves Tax Equity Based On New Report

January 15, 2024

Washington’s tax system is becoming more fair for working families. Read more.

Oxfam: Do the Rich Pay Their Fair Share?

January 15, 2024

Paying your fair share of taxes strikes at the heart of fundamental fairness. Does everyone play by the same rules? Does our government have the resources it needs to provide the services we all rely on, from schools to roads to firefighters? Read more.

The Guardian: US Corporations Push to Roll Back Trump-Era Tax Policies They Once Endorsed

January 12, 2024

An agreement is emerging that ties the corporate tax breaks to an increase in support for vulnerable American families. Read more.

MarketWatch: Moving to Florida Might Not Be the Tax Play It’s Cracked Up to Be — Unless You’re Loaded

January 12, 2024

Florida, Texas and Tennessee have become hot real-estate markets in recent years, in part because they offer the allure of low taxes and cheap living costs. But a new analysis of how much state and local taxes cost rich and poor residents in those states throws cold water on the assumption that moving to states like Florida […]

Washington Post: Behind Closed Doors, Trump Eyes Second Round of Corporate tax Cuts

January 12, 2024

Donald Trump’s campaign team says the former president would prioritize cutting taxes for working-class families and small businesses if he returns to the White House. But privately, Trump has told allies that he is keenly interested in cutting corporate tax rates again, according to two people who have spoken with Trump in recent months. Read […]

Bloomberg: As ‘Mansion Taxes’ Catch On in US Cities, Los Angeles Offers Lessons

January 11, 2024

Amid backlash and a tough housing market, a new tax intended to fund affordable housing is bringing in far less money than projected. Read more.

Video: ITEP’s Carl Davis Discusses Arkansas’ Upside-Down Tax Code

January 11, 2024

The “Who Pays?” report, a nationwide report that highlights the tax systems of each of the 50 states, shows Arkansas is one of the many states that “exacerbate inequality” for low-income and middle-class Arkansans. “The Arkansas tax system right now is not very balanced,” said Carl Davis, research director for the Institute on Taxation and […]

Washington Post: Congress Nears Deal to Partially Restore Biden’s Expanded Child Tax Credit

January 11, 2024

Congressional lawmakers are closing in on a deal that would partially revive President Biden’s expanded tax credit for lower-income families in exchange for extending tax incentives favored by business interests, according to two people familiar with the matter. Read more.

Newsweek: Florida’s Tax System Most Unfair on Poor in US, Study Shows

January 10, 2024

The Florida tax system is the most unfair on the poor in the entire country, according to a new study, with the lowest-income 20 percent in the state paying much more of their income in taxes than the wealthiest 1 percent. Read more.

The Guardian: Forty-Four of 50 US States Worsen Inequality with ‘Upside-Down’ Taxes

January 10, 2024

A total of 44 of the 50 US states worsen inequality by making the wealthy pay a lesser share of their income in taxes than lower income people, a new analysis has found. Read more.