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While many state lawmakers have spent the past few years debating deep and damaging tax cuts that disproportionately help the rich, more forward-thinking lawmakers have improved tax equity by raising new revenue from the well-off and creating or expanding refundable tax credits for low- and moderate-income families.
State legislative sessions are in full swing with New Jersey and Oklahoma both particularly active this week...
State Rundown 2/22: Some Top-Heavy Tax Cut Proposals are Getting the Chop
February 22, 2024 • By ITEP Staff
With many state legislatures now in full swing with activity heating up, some tax cut proposals have lost steam...
The ‘Low-Tax’ Lie: States Hyped for Low Taxes Usually Only Low-Tax for the Rich
February 20, 2024 • By Jon Whiten
It’s hard to go a week without seeing a politician or a news article hype up a state as the place that everyone is moving to – or should move to – because of low taxes. However, there’s a big problem with these proclamations: they aren’t true.
IRS Commissioner, New GAO Report Highlight Importance of Proper IRS Funding
February 16, 2024 • By Joe Hughes
A new GAO report and Commissioner Werfel’s testimony highlight the value and necessity of a well-funded and functioning IRS. Most families and businesses do their best to pay taxes accurately and on time. The nation benefits from a modern revenue agency that can make this process as easy and simple as possible and identify complex tax schemes that deprive the country of revenues.
As many of you may know, we love taxes, along with the many great things they provide for our communities...
State Rundown 2/8: Flowers, Chocolates, and Tax Cuts for the Wealthy?
February 8, 2024 • By ITEP Staff
While we were hoping to get progressive tax policy wins for Valentine’s Day, many state lawmakers have another idea in mind...
State Rundown 2/1: Black History Month Begins as Tax Debates Heat Up Nationwide
February 1, 2024 • By ITEP Staff
This week the showdown between the Kansas legislature and governor continued as Gov. Kelly vetoed the legislature’s latest attempt to pass a flat personal income tax. Elsewhere, the focus is on doing more for working families through proposals to expand refundable credits in Maryland and adding a millionaire tax bracket in Rhode Island. Meanwhile, there’s […]
It doesn’t matter if someone with a family income of $800,000 per year thinks they aren’t rich because they can’t quit their jobs and retire to a luxury home on the beach in Malibu. They can call themselves what they want. The point is that they are richer than 99 percent of the population and can afford to pay more.
The IRS Direct File pilot is currently open to eligible taxpayers here. Millions of American families have now received their W-2s for 2023, signaling the start to a new tax filing season. The IRS has set January 29 as the first date that people can file their tax returns for the previous year, and the […]
State Rundown 1/26: Wealth Taxes Drawing Interest Early in Legislative Sessions
January 26, 2024 • By ITEP Staff
Bills are moving and state legislative sessions are picking up across the country, giving elected officials the opportunity to consider two distinct paths when it comes to tax policy...
New Mexico Making Tremendous Progress Making Taxes Less Regressive
January 24, 2024 • By Carl Davis
Recent tax reforms have helped to bring greater balance to New Mexico's tax code. A new in-depth look at taxes in all 50 states finds New Mexico is an emerging leader, though there’s still plenty of room for improvement.
Latest Kansas Tax Plan Would Provide an Estimated $875,000 Tax Cut to Charles Koch
January 22, 2024 • By Carl Davis, Neva Butkus
Last week, both houses of the Kansas legislature approved a significant tax cut centered around replacing the state’s graduated rate income tax structure with a flat tax instead. The bulk of this would flow to upper-income families, mostly through lowering the state’s top income tax rate from 5.7 to 5.25 percent. This tax cut would […]
The findings of Who Pays? go a long way toward explaining why so many states are failing to raise the amount of revenue needed to provide full and robust support for our public schools.
Tax policy themes have begun to crop up in states as governors give their yearly addresses and legislators lay out their plans for the 2024 legislative season...
Worthwhile Ideas for a Stronger and Fairer D.C. Tax Code
January 17, 2024 • By Andrew Boardman, Kamolika Das, Marco Guzman
The nation’s capital has a once-in-a-decade opportunity to advance a stronger and fairer local tax code. New draft recommendations from a key advisory panel will help leaders make the most of the moment.
State Rundown 1/11: Sounding the Alarm on Regressive State & Local Tax Codes
January 11, 2024 • By ITEP Staff
States got a wake-up call this week as ITEP released the latest edition of our flagship Who Pays? report...
The vast majority of state and local tax systems are upside-down, with the wealthy paying a far lesser share of their income in taxes than low- and middle-income families. Yet a few states have made strides to buck that trend and have tax codes that are somewhat progressive and therefore do not worsen inequality.
State Rundown 1/4: New Year, New Opportunities, Same Tax Cut Proposals
January 4, 2024 • By ITEP Staff
The year may be new, but state lawmakers seem to have the same old resolution: slashing state income taxes...
Everything You Need to Know About Proposals to Better Tax Billionaires
December 21, 2023 • By Steve Wamhoff
Tax policy may not be on the minds of most Americans during the final weeks of 2023, but billionaires with an eye on their own tax bills have been riveted by developments in D.C.
Even as revenue collections slow in many states, some are starting the push for 2024 tax cuts early. For instance, policymakers in Georgia and Utah are already making the case for deeper income tax cuts. Meanwhile, Arizona lawmakers are now facing a significant deficit, the consequence of their recent top-heavy tax cuts. There is another […]
With the Moore vs. United States Case, the Supreme Court Could Unleash Chaos on Our Tax System
December 1, 2023 • By Steve Wamhoff
On Tuesday, the U.S. Supreme Court will begin hearing oral arguments in Moore vs. United States, which could become the most important tax case in a century. A broad ruling could destabilize our tax system, enrich many profitable corporations, and widen existing economic and racial inequalities.
Though Turkey Day has passed, lawmakers in states across the U.S. have yet to get their fill of delicious tax policy goodness...
Hidden in Plain Sight: Race and Tax Policy in 2023 State Legislative Sessions
November 21, 2023 • By Brakeyshia Samms
Race was front and center in a lot of state policy debates this year, from battles over what’s being taught in schools to disagreements over new voting laws. Less visible, but also extremely important, were the racial implications of tax policy changes. What states accomplished this year – both good and bad – will acutely affect people and families of color.
The Latest Convoluted Arguments in Favor of Rich People Not Paying Taxes
November 13, 2023 • By Steve Wamhoff
Two Senate hearings last week focused on how the richest Americans are avoiding and evading taxes in ways that ordinary Americans could hardly imagine. All the experts brought in to testify seemed to agree that the House GOP’s recent tactic of “paying for” a spending proposal by cutting IRS funding makes no sense because it […]
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