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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 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... -
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 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 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 […] -
Marco Guzman
Senior AnalystTwenty states this year have decided to go so far as to forgo a combined $1 billion in vital tax revenue in favor of conveniently popular yet ultimately ineffective sales tax holidays. Whether it’s a state looking for a way to help families manage the rising cost of goods or to celebrate back-to-school shopping season, these policy options are poorly targeted and an inadequate use of state tax revenue that could be doing more to make childcare more affordable, health care more accessible and high-quality education available to everyone. -
Steve Wamhoff
Federal Policy DirectorOpposing a fully paid-for spending bill because of inflation concerns does not make any sense. Opposing a deficit-reducing bill because of inflation is absurd. -
July 13, 2022
State Rundown 7/13: Let’s Make a Deal
From the Bay State to the Golden State, lawmakers across the nation are making deals and negotiating budgets with major tax implications... -
Steve Wamhoff
Federal Policy DirectorThere is no justification for recently reported efforts to scale back the tax reforms in the Build Back Better Act, a bill passed by the House of Representatives in November that would raise significant revenue and make our tax code more progressive by enacting widely popular proposals. (See ITEP’s report on the BBBA.) Of course, […] -
June 29, 2022
State Rundown 6/29: Sun’s Out, Session’s (Still) In
Although the sun is shining and Independence Day is right around the corner, many state lawmakers are still indoors hammering out the details of future budgets or still hard at work passing laws... -
June 22, 2022
State Rundown 6/22: Southern States Edition
With many state legislative sessions wrapped or wrapping up, we at ITEP want to take a moment to direct your attention south, and specifically, to the American South... -
Kamolika Das
Local Policy Director“From the inception of the emerging American nation, the South is a central battleground in the struggles for freedom, justice, and equality. It is the location of the most intense repression, exploitation, and reaction directed toward Africans Americans, as well as Native Americans and working people generally. At the same time the South is the […] -
With inflation dominating headlines both nationally and locally, state lawmakers around the U.S. are searching for ways to put their revenues to good use, and not surprisingly, some options are better than others...
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Carl Davis
Research DirectorMany state lawmakers see any economic challenge as an excuse to cut taxes and in 2022, some are citing inflation as a reason to do so. All eyes today are on the inflation rate facing consumers which, spurred on in part by rising corporate profits, is now running at its fastest pace in decades. But […] -
As voters head to the polls to weigh in on their state’s primary elections and legislators convene to hash out budget deals, tax policy remains atop the agenda...
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While the temperature ticks up outside, the temperature in state legislatures around the country has fallen slightly. But with several states still dealing with ongoing tax and budget issues, this summer could be a hot one...
Blog Categories
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- Taxing Wealth and Income from Wealth
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