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Congressional Republicans Distort a New Report on the Global Minimum Tax
• By Steve Wamhoff
The notion that we are better off allowing our corporations to pretend their profits are earned in the Cayman Islands or Ireland simply defies logic and the facts. There is no scenario in which the U.S. would be better by ditching the international agreement that the government already negotiated.
State Rundown 6/22: Some Tax Debates Heat Up as Others Cool Off
• By ITEP Staff
Summer is here and many states nearing the end of their legislative sessions. Temperatures are rising in more ways than one in some state legislatures while others seem to be cooling off.
State Rundown 6/14: Summer Breeze & State Tax Policies
• By ITEP Staff
As the sweet days of summer pass, the scent of jasmine isn't the only thing blowing through the minds of state lawmakers, as tax policy discussions remain at the forefront...
Illinois Voucher Tax Credits Don’t ‘Invest in Kids,’ They Invest in Inequality
• By Carl Davis
By allowing their school privatization tax credit to expire at the end of the year, Illinois lawmakers can take a meaningful step toward better tax and education policy, and a clear show of support for our nation’s public education system.
Letter to IRS on Section 1001 Regulation in 2023-2024 Priority Guidance Plan
• By ITEP Staff
Read as PDF Re: Recommendation for Inclusion of Section 1001 Regulation in 2023-2024 Priority Guidance Plan To Whom It May Concern, We are writing to respectfully urge that the IRS return to the work it left unfinished in 2019 when it issued final regulations on “Contributions in Exchange for State or Local Tax Credits” (RIN: […]
State Rundown 6/7: The Budget Race Continues
• By ITEP Staff
Across the country, the marathon budget season has held pace, with a steady stream of bills continuing to cross the finish line...
The Real Impact of State Tax Cuts
• By Aidan Davis
This op-ed was originally published by Route Fifty and co-written by ITEP State Director Aidan Davis and Center on Budget and Policy Priorities Senior Advisor for State Tax Policy Wesley Tharpe. There’s a troubling trend in state capitols across the country: Some lawmakers are pushing big, permanent tax cuts that primarily benefit the wealthy and […]
Debt-Limit Deal’s Provision to Let Tax Cheats Off the Hook Will Increase the Deficit
• By Jon Whiten
The latest debt-limit bill in Congress includes a provision to claw back important IRS funding meant to crack down on wealthy tax cheats. This cut in funding would actually increase the deficit while continuing the rig the system in favor of the most well-off.
State Rundown 6/1: State Revenue Highs and Lows
• By ITEP Staff
Short-sighted tax cuts continue to make their way to Governors’ desks this week. In Florida, Gov. DeSantis signed a $1.3 billion tax cut package with $550 million of the tax cuts from sales tax holidays, alone. The Nebraska legislature also sent $6.4 billion in tax cuts to Gov. Pillen’s desk which includes an enormous personal income tax cut that will reduce taxes on the top 1 percent by tens of thousands of dollars.
Congress Should Consider Attaching Work Requirements to the Biggest Tax Break for the Rich
• By Steve Wamhoff
Instead of focusing on low-income people who are already mostly employed or facing significant barriers to employment, lawmakers who want to encourage labor force participation should revisit existing tax breaks subsidizing wealthy individuals who live off their assets rather than work.
State Rundown 5/25: The North Star State Leads the Way on Tax Fairness
• By ITEP Staff
As we approach the midpoint of 2023, it’s a good time to look back at the progress states have made in the name of tax fairness and equity...
State Rundown 5/18: Credits, Cuts, and Corporate Revenue Raisers
• By ITEP Staff
This past week, in statehouses around the country, tax policy decisions are moving fast as budgets were signed and budget plans were released and passed...
States are Talking About the Wrong Kind of Property Tax Cuts
• By Brakeyshia Samms, Carl Davis
Concerns over property tax affordability have been at the forefront this year as housing prices have climbed and property tax bills have often increased along with them. As lawmakers mull a range of property tax cuts, circuit breakers are the best possible approach—and these policies are receiving far too little attention in the states.
State Rundown 5/10: Momentum on State Tax Credits Continues to Build
• By ITEP Staff
This week, in states across the country the momentum to center improvements to family economic security remains strong...
Voters Could Approve Local Capital Gains Tax in Oregon
• By Kamolika Das
At nearly every turn, Oregon’s tax policies widen inequality; as a result, the top 1 percent pay less state and local taxes as a share of income than the poorest residents. Taxing capital gains at the local level is an important and exciting move in the other direction – to tax income from wealth and use it to address crucial needs.
The House’s Debt Ceiling Smoke Screen: The GOP Budget Plan Gives Cover for Tax Cuts for the Rich
• By Joe Hughes
While it isn’t reasonable in the first place for Congress to debate whether it will pay the bills it has already incurred, some of the same lawmakers who are holding the economy hostage to exact budget cuts have decided to make the conversation even more irrational by proposing to increase deficits with tax cuts that enrich the already rich.
Congress Should Raise Taxes on the Rich, But That’s a Totally Separate Issue from the Debt Ceiling
• By Steve Wamhoff
Congress absolutely should raise taxes on the rich and on corporations to generate revenue and improve the fairness of our tax code. President Biden has several proposals to do exactly that. But this is an entirely separate question from whether we should raise the debt ceiling to honor the debts the nation has already incurred and avoid an economic apocalypse.
Minnesota Poised to Enact Landmark Loophole-Closing Corporate Tax Reforms
• By Matthew Gardner
With Minnesota poised to enact worldwide combined reporting of corporate income taxes, business lobbyists are pulling out all the stops to make state lawmakers believe the apocalypse is upon them.
State Rundown 5/3: Policy Debates Unfold from Capitol to Capital
• By ITEP Staff
While the conversations on the debt ceiling heat up in the nation's capital, debates on state tax policy also continue to unfold in capitol buildings across the nation...
The GOP is Finally Ready to Raise Taxes. (Or, When a Tax Hike is Not a Tax Hike.)
• By Joe Hughes
House Republicans recently voted to rescind the green energy and electric vehicle tax credits that were enacted last Congress as part of the Inflation Reduction Act. This newfound willingness to raise taxes stands in contrast to the recent position of almost the entire House Republican Caucus.
Minnesota Lawmakers Re-Envision State Tax System to Center Equity
• By Neva Butkus
Minnesota’s House, Senate and Governor’s office have each proposed their own vision as to how the state should maximize its $17.5 billion surplus and raise new revenue, and these tax plans make one thing clear: Minnesota lawmakers are serious about using tax policy to advance tax equity and improve the lives of Minnesotans.
Taxes Save Babies’ Lives
• By Amy Hanauer
A compelling new examination over multiple years and multiple states found that infants are more likely to survive to age one in states that raise more revenue and raise it from those most able to pay. Generating taxes from rich people and corporations can help babies make it to their first birthday.
Kansas Avoids Flat Tax Proposal: Narrow Victory a Cautionary Tale for Other States
• By Brakeyshia Samms
Kansas lawmakers failed to override Gov. Laura Kelly’s veto of a damaging flat tax package. In doing so, the state narrowly avoided traveling again down the same disastrous yet well-worn path of deep income tax cuts. States across the country can learn from Kansas’s experience by rethinking tax policy decisions and broader statewide priorities.
State Rundown 4/27: Health, Wealth, and State Tax Policy
• By ITEP Staff
This week the importance of state tax policy is center stage once again...
Racial Justice Requires Tax Justice: Our Analysis Helps Deliver Both
• By Amy Hanauer
ITEP’s analytical approach, our comprehensive microsimulation model, and our unique state-level capacities enable us to do pioneering analyses that enrich the debate on racial justice in tax policy that no other entity can do.
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