Institute on Taxation and Economic Policy

ITEP's Research Priorities

Washington Post: Va. General Assembly Girds for Fights Over Arena, Taxes, Schools and More

January 7, 2024

Democratic lawmakers have the majorities. Republican Gov. Glenn Youngkin has the veto. That’s the crux as a new-look Virginia General Assembly rolls into town Wednesday, opening a 60-day legislative session in which roughly a third of lawmakers are rookies and Democrats control both chambers but can’t get much done without Youngkin’s cooperation. Read more.

ProPublica: Utah Bills Itself as “Family-Friendly” Even as Lawmakers Have Long Neglected Child Care

January 5, 2024

Federal relief had improved access to child care. But when funding expired, the state rejected proposals to replace it. Some advocates say the historical influence of the LDS church has added to the resistance. Read more.

Common Good Iowa: Tax Cuts: What’s At Stake for Iowans

January 4, 2024

The income tax is a way Iowans come together to lay strong foundations that create opportunity and help people thrive. Governor Reynolds and legislative leaders want to eliminate Iowa’s personal income tax — a virtual promise to decimate the services that make Iowa a better place to live, work and raise a family. Read more.

Stateline: State Lawmakers Seek to Limit Property Tax Increases as Home Values Soar

January 4, 2024

Property taxes are rising along with real estate prices — particularly in the Mountain West. Read more.

National Public Radio: To Tackle Poverty, More States Will Offer Bigger Child Tax Credits in 2024

January 4, 2024

Many Americans took a double whammy to the pocketbook this year: Prices for things like food and rent rose, and federal pandemic aid continued to peter out. But a string of states took a cue from one of those relief measures — the expanded federal child tax credit — and are stepping in to help […]

Marketplace: The IRS is Trying a Free Online Tax-Filing System That Cuts Out Vendors

January 2, 2024

It’s January, which means you’ll be able to file your 2023 tax returns soon. And this year the IRS is trying something new: Some taxpayers in 12 states will be able to electronically file their federal returns directly with the agency, as opposed to using third parties, which is how the agency’s current e-filing program works. Read […]

The Lever: Billionaire Gifts To Thomas: Generosity Or Taxable Income?

December 23, 2023

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.

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Everything You Need to Know About Proposals to Better Tax Billionaires

December 21, 2023 • By Steve Wamhoff

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.

Reuters: Exxon’s Low US Tax Payments Ruffle Biden’s Climate Agenda

December 15, 2023

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 passed under former President Donald Trump. Read more.

Money: What Would Happen If The IRS Was Abolished?

December 14, 2023

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 wanted to make one thing clear right away: “There’s no feasible way to abolish the IRS.” Read more.

Keystone Research Center: Fair Taxation Can Help Achieve a More Just Pittsburgh

December 13, 2023

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 and accessible food programs, public safety, and public transportation. ARP funds, however, will expire in 2024, leaving a $30.6 million shortfall in the city budget. This […]

HuffPost: The Estate Tax Has Hit A Historic Low In America

December 9, 2023

Thanks to policy changes, more and more of the country’s megarich are keeping their wealth in the family. Read more.

Washington Monthly: A Taxing Question for the Roberts Court

December 8, 2023

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.

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The Reach of the Ever-Shrinking Estate Tax is at a Historic Low 

December 7, 2023 • By ITEP Staff

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 can leave behind an estate of $13.61 million without triggering the tax (for a married couple, that doubles to $27.22 million). Clearly, the estate tax […]

CNBC: Supreme Court Hears Tax Case On ‘Income’

December 6, 2023

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.

The Messenger: How a $15,000 Case Before the Supreme Court Could Open the Door to a Wealth Tax

December 6, 2023

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 Apple. Read more.

Associated Press: Georgia’s Governor and Top Republican Lawmakers Say They Want To Speed Up State Income Tax Cut

December 5, 2023

Georgia’s Republican governor and legislative leaders want to speed up an already-planned cut in the state income tax rate. Read more.

South Florida Sun Sentinel: Editorial: America’s Deep Divide on Display in So-Called Debate

December 3, 2023

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.

Washington Post: Here’s How the Claims in the Ron DeSantis-Gavin Newsom Debate hold Up

December 3, 2023

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 quick guide to some of the more noteworthy claims and whether they stand up to scrutiny. Read more.

TIME: Who Really Won in the DeSantis-Newsom Debate

December 3, 2023

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. Read more.

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With the Moore vs. United States Case, the Supreme Court Could Unleash Chaos on Our Tax System

December 1, 2023 • By Steve Wamhoff

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.

Center on Budget and Policy Priorities: States’ Recent Tax-Cut Spree Creates Big Risks for Families and Communities

December 1, 2023

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 and the economic recovery that followed. The tax cuts — most of which are both permanent and tilted toward wealthy households and corporations — will […]

The Week: America Doesn’t Have a Wealth Tax. The Supreme Court Might Kill It Anyway.

November 29, 2023

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 America doesn’t actually have a wealth tax doesn’t mean the Supreme Court can’t rule it out of bounds. It just might do so, The Associated Press reported, […]

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Hidden in Plain Sight: Race and Tax Policy in 2023 State Legislative Sessions

November 21, 2023 • By Brakeyshia Samms

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.

Congresswoman Rosa DeLauro: Cuts To the IRS Would Protect Tax Cheats Over Honest, Hard-Working Families

November 21, 2023

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 bill put forth by the majority is unacceptable. The Republicans propose cutting critical agencies the American people depend on for a stable, secure, safe, and […]