Blog
State Rundown 3/16: The Scramble to Curb Rising Gas Prices is On
March 16, 2022 • By ITEP Staff
Rising gas prices have lawmakers around the country searching for ways to ease the pressure on consumers and almost half the states are considering reducing or temporarily repealing their gas tax, but another idea is taking hold...
It’s unlikely that state gas tax holidays will meaningfully benefit consumers, and they come with risks for states’ infrastructure quality.
What We Can Learn Today from the American Rescue Plan – and Sen. Rick Scott’s Proposed Tax Increases
March 11, 2022 • By Steve Wamhoff
The 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.
State Rundown 3/9: One State Stands Out Amid the Avalanche of Tax Cuts
March 9, 2022 • By ITEP Staff
The avalanche of regressive tax-cut proposals coming out of state legislatures has not slowed over the course of the winter months, but one state has provided a shot of hope to advocates of tax equity...
A Better Alternative: New Mexico Prioritizes Targeted, Temporary Tax Cuts
March 9, 2022 • By Marco Guzman
New Mexico stands in stark contrast to the many examples of poorly targeted tax-cut proposals currently being considered around the country.
Reality Check: Drastic Income Tax Cuts Are Dangerous Despite What Anti-Tax Supporters Say
March 3, 2022 • By Brakeyshia Samms
Income taxes are the backbone of most state budgets, but you wouldn't gather this fact based on the current trend to cut or eliminate them. A recent, cheerful Wall Street Journal op-ed from anti-government advocate Grover Norquist offers a clear sign that tax-cutting states are taking the wrong approach. The long-time proponent of anti-tax pledges wrote favorably about the legislative and gubernatorial plans to cut income tax cuts across the country. As usual, he failed to address that income taxes support state investments in education, infrastructure, health care and other important public services.
ITEP is happy to announce the launch of our new State Tax Watch page, where you can find out about the most up-to-date tax proposals and permanent legislative changes happening across the country...
SOTU and GOP Response Highlight Dramatic Difference in Parties’ Tax Policy Approach
March 2, 2022 • By Aidan Davis, ITEP Staff, Jenice Robinson
Since last year, multiple states across the country have proposed or are pursuing costly income and other tax cuts that are heavily tilted toward the highest-income households. State advocates have worked to beat back these proposals and sounded the alarm about the long-term consequences of tax cuts, but legislatures (most GOP-led) continue to introduce and approve top-heavy and permanent tax cuts. This state tax-cut fervor took center stage last night when Gov. Kim Reynolds of Iowa gave the Republican response to President Biden's SOTU address.
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.
Several state legislatures are continuing to push ahead this year with significant tax cut packages that are regressive and would dramatically reduce revenues and leave states in a bad position should they experience another unexpected economic shock...
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.
The Federal Gas Tax Holiday is Not a New Idea, Just a Bad One
February 17, 2022 • By Steve Wamhoff
The argument for suspending the gas tax, which would cost $20 billion, is weaker than ever.
State Rundown 2/16: Spending Priorities Emerge as the Votes Are Counted
February 16, 2022 • By ITEP Staff
State lawmakers have been busy working out deals and negotiating how best to use excess revenues, and as the votes are beginning to come in, spending priorities are becoming clearer...
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.
While record state revenue surpluses have led to big pushes in red states to make unnecessary permanent income and corporate tax cuts, Democrats are also getting in on the tax-cut mania...
More Than One in Three Young Workers Would Benefit from EITC Reforms in Build Back Better Plan
February 8, 2022 • By Aidan Davis
Although the EITC expansion did not receive as much attention as the expanded Child Tax Credit, a new ITEP report shows the positive impact of allowing young workers without children in the home to maintain access to one of the nation’s most significant and effective anti-poverty programs.
Amazon Avoids More Than $5 Billion in Corporate Income Taxes, Reports 6 Percent Tax Rate on $35 Billion of US Income
February 7, 2022 • By Matthew Gardner
Amazon avoided about $5.2 billion of federal income tax on its record $36 billion in U.S. pretax income for fiscal year 2021.
One-time payments have become a common theme around the country, as Idaho is one of roughly eleven states with plans to provide tax relief in a similar fashion...
Netflix Posts a Record $5.3 Billion in Profits and a Federal Tax Rate of Just 1.1 Percent
February 1, 2022 • By Matthew Gardner
Netflix'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.
Build Back Better’s Tax Provisions Would Help Advance Racial Equity
January 31, 2022 • By Brakeyshia Samms
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.
State Rundown 1/26: States Offering Preview of Tax Themes and Trends for 2022
January 26, 2022 • By ITEP Staff
Governors and legislators are beginning to settle on and advance tax bills that could drastically shape the future of their states and several trends and themes are beginning to emerge...
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.
State Rundown 1/20: Governors Eyeing Tax Cuts in Yearly Addresses
January 20, 2022 • By ITEP Staff
A common theme is emerging out of states, as governors around the U.S. begin the year with their annual state speeches, and the news does not bode well for long-term growth and sustainable budgets...
Mississippi Is the Latest in a String of States Pursuing Short-Sighted, Top-Heavy Tax Cuts
January 19, 2022 • By Kamolika Das
Not only is Mississippi's latest tax proposal deeply inequitable, the state simply cannot afford it.
The Compelling Data and Moral Case for Continuing the Child Tax Credit Expansion
January 14, 2022 • By Alex Welch, ITEP Staff, Jenice Robinson
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.
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