Category: Federal Policy
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Amy Hanauer
Executive DirectorApril 18, 2022
Public Problems Demand Public Solutions
Long-term troubles for this country and this planet now demand our attention. Progressive tax policy would transform our ability to tackle them. -
Steve Wamhoff
Federal Policy DirectorThe Billionaires’ Minimum Income Tax included in President Biden's budget plan would limit an unfair tax break for capital gains income and complement proposals the president has offered previously to limit other tax breaks for capital gains. -
Steve Wamhoff
Federal Policy DirectorFind the answers to some frequently asked questions about President Biden's Billionaires’ Minimum Income Tax, which would limit very wealthy individuals’ ability to put off paying income taxes on capital gains until they sell assets. -
Steve Wamhoff
Federal Policy DirectorThe Biden administration should revise regulations from the TCJA to enforce the law as it was written and passed by Congress, not as big banks and multinational corporations have lobbied for it to be enforced. -
Steve Wamhoff
Federal Policy DirectorNew corporate tax proposals address the current situation, but ultimately leaders in Washington must fix federal law to tax all corporate profits and stop the tax dodging that is rampant today. -
Brakeyshia Samms
Senior AnalystWomen’s History Month is a chance to remember what happens for women when tax policy becomes more progressive, boosts income, and helps make raising a family more affordable. -
Carl Davis
Research DirectorMarch 16, 2022
State Gas Tax Holidays are Nothing to Celebrate
It’s unlikely that state gas tax holidays will meaningfully benefit consumers, and they come with risks for states’ infrastructure quality. -
Steve Wamhoff
Federal Policy DirectorThe success of the American Rescue Plan Act is worth revisiting today. Instead of pursuing Sen. Rick Scott’s agenda of making life more difficult for those already working the hardest, Congress should extend or make permanent some of the beneficial policies in ARPA. -
Amy Hanauer
Executive DirectorMarch 1, 2022
Taxes Should be Part of the State of the Union Agenda
President Biden should elevate his tax and revenue proposals which remain essential if we are to pay for environmental restoration, health priorities and peacekeeping, the front-burner items that may dominate the speech. -
Steve Wamhoff
Federal Policy DirectorFebruary 22, 2022
Senate Republicans Revive the Myth of the Takers
Sen. Scott and others who favor shifting taxes away from the rich and down the income distribution often focus solely on the federal personal income tax and ignore all the other taxes that Americans pay. -
Steve Wamhoff
Federal Policy DirectorFebruary 17, 2022
The Federal Gas Tax Holiday is Not a New Idea, Just a Bad One
The argument for suspending the gas tax, which would cost $20 billion, is weaker than ever. -
Amy Hanauer
Executive DirectorFebruary 16, 2022
Imagine a Better Tax Code, Use Evidence to Make It Real
It’s become popular to urge people to imagine a better world. But on tax policy, the last year gives us ample evidence that lets us move far beyond imagining. -
Matthew Gardner
Senior FellowAmazon avoided about $5.2 billion of federal income tax on its record $36 billion in U.S. pretax income for fiscal year 2021. -
Matthew Gardner
Senior FellowNetflix's 2021 financial report shows it doubled its profits to $5.3 billion from the previous year and reported an effective federal corporate income tax rate of 1.1 percent. -
Brakeyshia Samms
Senior AnalystJanuary 31, 2022
Build Back Better’s Tax Provisions Would Help Advance Racial Equity
Build Back Better can help ensure that all people are provided with the chance to lead healthy lives, have access to quality education, are treated fairly and justly, and thrive in today’s economy. -
Amy Hanauer
Executive DirectorJanuary 25, 2022
Why Tax Reform Should Remain on the Table
In this country, wealthier than any other and wealthier than we’ve ever been, we can create a smarter, more equitable tax code that better taxes those most able to pay. -
In just six short months, the enhanced Child Tax Credit (CTC), enacted as part of the American Rescue Plan (ARP), decreased the number of children living in poverty by 40 percent. ITEP estimated that the lowest-income 20 percent of households with children would receive a 35 percent income boost from this policy alone in 2021. This is a meaningful, life-changing sum. -
Joe Hughes
Senior AnalystPrior to last year, more than one in three children lived in households with incomes too low to receive the full $2,000 credit because it is not fully refundable. This means earnings requirements and other limits reduce the amount tax filers can receive as a refund. In fact, the maximum refundable portion is reduced to $1,400 (less than half of the maximum refundable credit available in 2021). -
Steve Wamhoff
Federal Policy DirectorCongress expanded the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) for 2021 as part of the American Rescue Plan Act (ARP). The additional benefits that millions of families and workers received under that law will end this month if Congress does not act soon. The CTC expansion boosted the annual tax credit […] -
ITEP Staff
December 9, 2021
Tax Credits in Build Back Better Support Millions of Families
The EITC and CTC are proven poverty-fighting tools. The monthly CTC payments alone kept 3.6 million people out of poverty in October. This policy success is worth repeating. -
Steve Wamhoff
Federal Policy DirectorRichest taxpayers would receive $0 benefit under new compromise compared with 51 percent of the benefit of House-passed SALT provision DOWNLOAD NATIONAL AND STATE-BY-STATE ESTIMATES In the latest chapter of the saga over SALT, some Senate Democrats are discussing a new compromise that would amend the House-passed provision providing relief from the SALT cap to […] -
Joe Hughes
Senior AnalystThe proposal in the Democrats’ Build Back Better proposal applies the 3.8 percent Net Investment Income Tax to all profit distributions from partnerships and S-corporations so that this income of wealthy pass-through business owners no longer escapes. -
Aidan Davis
State Policy DirectorThe CTC and EITC provisions would have a particularly profound effect on the poorest 20 percent of Americans, who all will have incomes of less than $22,000 in 2022. Taken together, the EITC and CTC changes would lift the average income of these households by more than 10 percent. -
Matthew Gardner
Senior FellowAmazon, Bank of America, Facebook, FedEx, General Motors, Google, Netflix, PayPal, T-Mobile and Verizon are just a few of the 70 corporations that would have paid more taxes under the Democrats’ proposed Corporate Profits Minimum Tax (CPMT) if it had been in effect in 2020 according to a new report from Sen. Elizabeth Warren’s office with estimates verified by the Institute on Taxation and Economic Policy. -
Joe Hughes
Senior AnalystNovember 4, 2021
Democrats Seek to Eliminate the Stock Buyback Advantage
An important reform in the bill before Congress would tax stock buybacks in a way that is more comparable to how dividends are taxed. Corporations would be required to pay a tax equal to 1 percent of their stock repurchases, ensuring that profits shifted to shareholders in this way are subject to some federal tax.
Blog Categories
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- Taxing Wealth and Income from Wealth
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