Citations

ITEP Policy Analyst Miles Trinidad testified on the need for a Wealth Proceeds Tax in Vermont on April 16, 2026 at the Vermont House Ways and Means Committee.

ITEP Policy Analyst Miles Trinidad testified on the need for a Wealth Proceeds Tax in Vermont on February 27, 2026 at the Vermont Senate Committee on Finance.  See the slide deck here Watch the video below:

ITEP Research Director Carl Davis testified on the impact of the 2025 tax law on Vermont on January 15, 2026 at the Vermont House Ways & Means Committee and the Vermont Senate Committee on Finance.  See the slide deck here Watch the videos here (House) and here (Senate) See all of our resources on conformity […]

In many ways, 2025 has been a year like no other. Federal actions affecting the state have been fast and furious: freezing grants, eliminating housing supports, withholding or slashing food benefits and heating assistance, decimating healthcare access both by cutting Medicaid and ending enhanced insurance premium tax credits. All of this adds up to hundreds of […]

Today, I have an exceptionally important topic to talk about: taxes! Taxes have become a dirty word, and in many ways for good reason. Since the 1980’s there has been a significant shift in how much everyday people pay in taxes. Wealthy and high-income individuals have seen their marginal tax rates drop precipitously, while working […]

Good afternoon, Senator Fonfara, Representative Horn, and members of the Committee, and thank you for this opportunity to testify. My name is Marco Guzman and I'm a senior policy analyst with the Institute on Taxation and Economic Policy, or ITEP, and we’re a nonprofit research organization that focuses on state, local, and federal tax policy issues. 

Below is written testimony delivered by ITEP Local Policy Director Kamolika Das before the Pennsylvania House Finance Subcommittee on Tax Modernization & Reform on March 1, 2024. Good afternoon and thank you for this opportunity to testify. My name is Kamolika Das, I live in South Philly, and I’m the Local Tax Policy Director at […]

According to estimates from the Institute on Taxation and Economic Policy (ITEP), the proposal would fall almost exclusively on the state’s richest 1 percent of households, or those with average incomes of about $1.8 million a year.[2] The remainder of the state’s residents — who to be clear, already themselves contribute significant shares of revenue through existing taxes on income, sales, and property[3] — would see no change.

ITEP Research Director Carl Davis gave a presentation on Vermont’s tax system to that state’s Ways and Means Committee on January 25, 2024. Click here for the slide deck.  

The report looks at how well states distribute taxes based on family incomes. In most states lower-income families pay a higher percentage of their income in state and local taxes than those at the top. That’s the definition of a regressive tax system. Vermont’s is one of the least regressive in the country.

Anti-tax advocates across the country and in Vermont continue to push for policies that reduce tax rates for the wealthy and businesses, the report finds. However, a movement is growing in opposition to this agenda, as the public realizes that tax cuts for the wealthy and corporations mean less money to fund the things that benefit everyone: schools, parks and public spaces, infrastructure, public safety and other basic services.

Tax systems generally favor the wealthy, but Vermont’s system is skewed less than most other states when it comes to high-income taxpayers. That was the key finding of a study released today by the Institute on Taxation and Economic Policy (ITEP) and Public Assets Institute.

Elected leaders acknowledge investments are needed to clean up Lake Champlain, provide families with child care financial assistance, and make higher education more affordable. But progress has been slow in making these investments. And to balance the budget they make cuts—to Reach Up benefits for the poorest families, to affordable housing programs, to key policy […]