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November 2, 2022
State Rundown 11/2: Midterms on the Mind
Next Tuesday, voters will head to the polls to not only elect local and national leaders, but also let their voices be heard on a range of tax policy issues that could improve or worsen their state tax codes... -
Carl Davis
Research DirectorThe big problem with the Index is that it peddles a solution that not only falls short of the goal of generating business investment, but one that actively harms state lawmakers’ ability to provide the kinds of public goods – like good schools and modern, efficient transportation networks – that businesses need and want. -
Jon Whiten
Deputy DirectorIn a couple of weeks, voters in a handful of states will weigh in on several tax-related ballot measures that could make state tax codes more equitable and raise money for public services, or take states in the opposite direction, making tax systems less fair and draining state coffers of dollars needed to maintain critical […] -
October 5, 2022
State Rundown 10/5: Forecasting Ain’t Easy
Although the weather is beginning to cool down in parts of the country, the same cannot be said for many state economies, which are still running hot. That, however, doesn’t mean that the good times are guaranteed to last... -
Steve Wamhoff
Federal Policy DirectorIf lawmakers believe it’s worthwhile to extend corporate tax breaks, then it would be entirely unreasonable for them to not conclude the same about tax provisions that help low-income children. -
September 21, 2022
State Rundown 9/21: Earth, Wind, Fire & Taxes Edition
Do you remember/the big tax news innn September? Well, if not, we at ITEP got you covered... -
Joe Hughes
Senior Policy AnalystSeptember 14, 2022
Census Data Shows Need to Make 2021 Child Tax Credit Expansion Permanent
The Child Tax Credit expansion led to a 46 percent decline in childhood poverty. That it could be accomplished during the largest economic disruption in most of our lifetimes underscores a basic fact: thoughtful, decisive government action to combat poverty works. -
Steve Wamhoff
Federal Policy DirectorSeptember 13, 2022
Billionaires Should Pay Taxes on Their Income Every Year Like the Rest of Us
The Inflation Reduction Act signed by President Biden last month will crack down on corporate tax dodgers and strengthen enforcement of tax laws already on the books, raising hundreds of billions of dollars to be spent on climate, health and other priorities. But these reforms will not directly raise taxes on even the wealthiest individuals. […] -
Though Labor Day has passed, advocates on the ground in states across the country are continuing to uphold the spirit of the labor movement...
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Steve Wamhoff
Federal Policy DirectorSen. Romney’s plan would expand the Child Tax Credit and offset the costs by scaling back other tax benefits. All told, it would raise taxes on a fourth of all kids in the U.S. This includes about a fourth of the children among the poorest fifth of U.S. families. -
Joe Hughes
Senior Policy AnalystWith four major tax policy provisions, the IRA takes a huge step toward a fairer tax code and a more equitable economy. But as always, there are more steps lawmakers should take to build on this progress. -
Amy Hanauer
Executive DirectorEditor’s note: This originally ran as an opinion piece in the Cleveland Plain Dealer. When I left Cleveland to work on federal tax policy after 20 years running Policy Matters Ohio, I knew Ohio would stay in my heart and fuel my work. Accustomed to an America that often ignores our toughest problems, I understood […] -
Jon Whiten
Deputy DirectorAugust 22, 2022
The Case for More IRS Funding
Editor’s note: This originally ran as an opinion piece in The Hill. Though the Inflation Reduction Act is enormously popular, some politicians and pundits are trying to generate hysteria about one feature: Funding for the IRS. All the false claims are distracting us from two important things: how necessary the funding increase is to reverse […] -
Marco Guzman
Senior Policy AnalystAugust 18, 2022
Gimmicky Sales Tax Holidays Are Short-Term and Ineffective
Everyone loves a deal, so it’s no surprise why the appeal of the state sales tax holiday continues to persist. This year, 20 states will forgo more than $1 billion in combined revenue to enact a variety of sales tax holidays that—like most things that are too good to be true—will do little to provide meaningful benefits and instead undermine funding for public services. -
Steve Wamhoff
Federal Policy DirectorGrasping for some way to criticize the popular Inflation Reduction Act as it approaches final passage, Congressional Republicans have decided to attack its provisions that will reverse a decade of budget cuts to the IRS and instruct the agency to crack down on tax evasion by big corporations and individuals making more than $400,000. Of […] -
While federal tax policy has dominated the headlines with the Senate’s recent approval of the Inflation Reduction Act, lawmakers in statehouses across the country...
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Steve Wamhoff
Federal Policy DirectorThe Inflation Reduction Act approved by the Senate on Aug. 7 would raise more than $700 billion in new revenue over a decade by closing corporate tax loopholes, empowering the IRS to enforce the tax laws on the books, taxing stock buybacks, and extending a limitation on deductions for business losses. The IRA – if […] -
Steve Wamhoff
Federal Policy DirectorFor now, the Senate is poised to reverse cuts to the IRS enforcement against wealthy tax evaders for the first time in a decade, crack down on tax-dodging by huge corporations for the first time since 1986, and finally address the method increasingly used by corporations to transfer income to shareholders to avoid federal taxes. The multi-decade winning streak of corporate lobbyists and special interests who have practically written many of our tax laws in recent years is about to come to an end. -
Joe Hughes
Senior Policy AnalystSenate Democrats have announced an agreement on the Inflation Reduction Act that, among other changes to a previous version of the bill, would apply a 1 percent tax on corporations repurchasing their own stock. This proposal was included in the House-passed Build Back Better Act last year and was estimated at that time to raise $124 billion over 10 years. This measure would ensure that income transferred from corporations to wealthy shareholders does not continue to escape taxation. -
Matthew Gardner
Senior FellowApple, one of the largest corporations in the United States despite manufacturing most of its physical products offshore, would likely pay the corporate minimum tax that is included in the Inflation Reduction Act that the Senate is debating this week. 3M, a manufacturer that has about 40 percent of its workforce in the United States, likely would not pay the corporate minimum tax if current trends in the company’s profits and taxes continue, because it is already paying above 15 percent of its profits in taxes. -
Steve Wamhoff
Federal Policy DirectorThe biggest revenue-raising provision in the Inflation Reduction Act, the 15 percent minimum tax for corporations that have more than a billion dollars in profits, is under attack from members of Congress who argue that manufacturing companies should not be required to pay any minimum amount of tax. Sen. Mike Crapo, the top Republican on […] -
Steve Wamhoff
Federal Policy DirectorOpponents of requiring corporations to pay even a minimum amount of taxes hold an unpopular position. But Sen. Mike Crapo, the top Republican on the Senate Finance Committee and a leader of that opposition, is using a one-sided and incomplete analysis to claim that the corporate minimum tax would raise taxes on low- and middle-income people. -
It’s the holiday season – well, the sales tax holiday season, that is. But after taking a closer look, you may notice that there is little to celebrate...
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Neva Butkus
Senior Policy AnalystState legislatures across the country made investments in their future, centering children, families, and workers by enacting and expanding state Earned Income Tax Credits (EITCs), Child Tax Credits (CTCs), and other refundable credits this session. In total, seven states either expanded or created CTCs this session. Connecticut, New Mexico, New Jersey, Rhode Island and Vermont […] -
Kamolika Das
Local Policy DirectorThe average person on the street would have no idea that many states experienced unprecedented budget surpluses this year. Iowa, for instance, has the most structurally deficient bridges of any state with nearly 1 in 5 falling apart. The Iowa Board of Regents proposed a 4.25 percent tuition increase for all three state universities and […]
Blog Categories
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- Tax Credits for Workers and Families
- Tax Reform Options and Challenges
- Taxing Wealth and Income from Wealth
- Trump Tax Policies
- Who Pays?