New research from the Institute on Taxation and Economic Policy (ITEP) looks at the potential effects of a tax cut proposal from the Trump Administration on families in the 50 states. The tax cut proposal would reduce the tax rate on corporate income from 35 percent to 15 percent, would repeal the estate tax, replace the current income tax brackets with three brackets at 10 percent, 25 percent, and 35 percent, eliminate most itemized deductions, except charitable giving and home mortgage interest, and create a new tax credit for childcare expenses, among other things.
ITEP Work in Action
Advocates and policymakers at the state and federal levels rely on ITEP’s analytic capabilities to inform their debates on proposed tax policy changes. In any given year, ITEP fields requests for analyses of policies in 25 or more states. ITEP also works with national partners to provide analyses of federal tax policy proposals. This section highlights reports that use ITEP analyses to make a compelling case for progressive tax reforms.
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ITEP Work in Action July 21, 2017 Hope Policy Institute: Mississippi’s Wealthiest Get the Most Benefit under New Federal Tax Cut Proposal
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ITEP Work in Action March 21, 2017 Hope Policy Institute: Everyone Pays Taxes, Including Undocumented Immigrants
According to a new report by the Institute on Taxation and Economic Policy (ITEP), it is estimated that undocumented immigrants in Mississippi pay almost $22,684,000 in state and local taxes. Nationally, undocumented immigrants pay over $11.74 billion in state and local taxes. The report, entitled “Undocumented Immigrants’ State and Local Tax Contributions,” highlights the contributions of undocumented immigrants as taxpayers to state and local governments.
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ITEP Work in Action May 5, 2016 Hope Policy Institute: Who Really Benefits: Why Large Tax Cuts Don’t Benefit Working Families and Communities
“Large tax reductions proposed at a time when Mississippi already is cutting important public investments due to a lack of revenue would erode the state’s ability to create jobs and… -
ITEP Work in Action March 25, 2015 Mississippi Economic Policy Center: All Roads Lead to Nowhere
Big tax cuts that largely benefit corporations and wealthy Mississippians are unaffordable and will erode our ability to support schools, universities, roads and bridges and public safety. Big tax cuts… -
ITEP Work in Action March 6, 2015 Mississippi Economic Policy Center: House and Senate Tax Plans Do Little for Struggling Working Families
The personal income tax cuts from both the [state] House and Senate plans benefit wealthier families more than lower and middle-income earners. Further, the high cost of these plans may… -
ITEP Work in Action January 29, 2015 Mississippi Economic Policy Center: A State Earned Income Tax Credit: A Boost for Mississippi Families
Mississippi families are struggling to make ends meet despite working hard and playing by the rules. The federal Earned Income Tax Credit (EITC) gives many of these families the boost… -
ITEP Work in Action January 15, 2013 Mississippi Economic Policy Center: Investing for Growth, Enhancing Our Prospects: Tax Reform in Mississippi
In any given year, the state of Mississippi and its residents accomplish a lot. Through the collective investment of our tax dollars, we maintain over 10,000 miles of roads, help… -
ITEP Work in Action January 14, 2013 Mississippi Economic Policy Center: Putting the Pieces Together: A Taxpayer’s Guide to the Mississippi Budget
Budget decisions directly influence the quality of education that our children receive, the condition of the roads that we travel, the safety of our communities and the level of trust… -
ITEP Work in Action January 14, 2013 Mississippi Economic Policy Center: Thank Taxes- Tax Day 2011
Everyone who gets a paycheck pays payroll taxes. Everyone who buys anything at a local store or fills up their car with gas pays taxes. Individuals and businesses alike, benefit…