
April 26, 2018
Some Democratic-led states are also moving forward with plans that would offset the tax benefits for the rich, with New Jersey Gov. Phil Murphy (D) acting swiftly to enact a millionaire’s tax, according to Meg Wiehe, deputy director of ITEP, who noted Murphy has acknowledged the workaround may help the rich. Cuomo has rebuffed similar […]
April 26, 2018 • By ITEP Staff
Republican Gov. Doug Ducey tried to avert the strike by promising a 20 percent raise over the next three years — a promise that some say is tied to overly optimistic growth projections. But it’s important to understand why Arizona teachers aren’t just happy with a raise, and why their demands include restoring education funding […]
April 25, 2018
The nonpartisan Institute on Taxation and Economic Policy said the state would have $2.8 billion more in annual revenue if legislators had not changed the tax system that existed in 2013. Gov. Roy Cooper had said improving education funding is a priority. Read more
April 23, 2018
In December, House Speaker Paul Ryan published on his website that the Tax Cuts and Jobs Act benefits “job creators of all sizes” as it “Prevents American jobs, headquarters, and research from moving overseas by eliminating incentives that now reward companies for shifting jobs, profits, and manufacturing plants abroad.” Observers like the Institute on Taxation […]
April 23, 2018
The non-partisan Institute on Taxation and Economic Policy finds the state would have about $3 billion more in yearly revenue if the tax system from 2013 was still in place. Read more
April 23, 2018
The tax overhaul that took effect Jan. 1 provides generous breaks for corporations and wealthy Americans and more modest relief for middle- and low-income households. In addition, the tax cuts for corporations are permanent; those for individuals and families are only temporary. Richard Phillips is a senior policy analyst at the nonpartisan, liberal-leaning Institute on […]
April 22, 2018
When Mr. Trump bashes Amazon for not collecting taxes, he is echoing long-running criticism of the company by the Institute on Taxation and Economic Policy, a nonpartisan research organization. Amazon collects sales tax in states that have one for items it sells directly to shoppers, but in most states it does not when shoppers buy […]
April 20, 2018
The wealthiest Rhode Islanders have benefited enormously from recently enacted federal tax changes. The Institute on Taxation and Economic Policy reported this month that the wealthiest 5 percent of Rhode Island families would receive 45 percent of the total tax cuts in 2018. The Rhode Island tax code as currently structured is upside down — […]
April 20, 2018 • By ITEP Staff
In the waning days of the 2018 General Assembly, legislators passed House Bill 366 (HB 366), a regressive tax reform package that gives a tax break to the wealthiest but asks more of everyone else, especially low-income Kentuckians. In addition to widening income disparities, these changes will exacerbate existing racial and geographic inequality in our state.
April 18, 2018
Estimates are that the couple will pay about $200 more a year. “That’s a week’s worth of groceries, and it’s gas in the car,” she said. “The majority of the state is in my situation.” An analysis of the changes by the left-leaning Institute on Taxation and Economic Policy says 95 percent of Kentuckians will pay more. […]
April 17, 2018
Following in an excerpt from an op-ed by Matthew Gardner that appeared in the American Prospect: A new report from my organization, the Institute on Taxation and Economic Policy, digs into these disclosures and finds that 15 profitable Fortune 500 companies collectively earned $24 billion in U.S. profits during 2017—and each paid zero, or less, […]
April 17, 2018
But here’s the truth: If you add up all the taxes Americans pay, the system is only slightly progressive. As this new report from the Institute on Taxation and Economic Policy shows, those in the poorest quintile pay a total of about 16 percent of their income in taxes, those in the middle pay 25 […]
April 17, 2018 • By ITEP Staff
While it’s easy to tick off a list of the things we enjoy that are paid for out of our taxes, paying taxes is really a moral duty that we all participate in. It is a contract that we honor collectively because it’s the way we invest in our communities. In fact, some research shows that Americans […]
April 17, 2018
This chart shows how the current version of the new tax laws will impact Americans at different income levels. The colors represent the average change one can expect as a percentage of 2018 pre-tax income according to the Institute on Taxation and Economic Policy. The darker the color the greater the cuts as a share […]
April 17, 2018 • By ITEP Staff
Because of the federal tax overhaul spearheaded by President Trump and Congressional Republicans, the Maine Legislature is considering two competing proposals to change its own tax code. Lawmakers face a stark choice: Will Maine double down on the lopsided tax policy set at the federal level, which favors those at the top at the expense […]
April 17, 2018 • By ITEP Staff
Taxes allow us to invest in public programs that help everyone, but recent federal tax cuts are shifting those dollars to the Arkansans who need it least. Those tax cuts are expensive–to the tune of $1.5 trillion dollars over 10 years. Nearly a third of Arkansas’s total operating budget is made up of federal revenue. This means that on top of federal budget changes, our state budget will also be forced to make cuts to things that Arkansas kids and families rely on today, like parks, community colleges, and firefighters.
April 16, 2018
The CBO findings echo analysis from non-partisan think tanks like the Institute on Taxation and Economic Policy, which found that the Republican Tax Cuts and Jobs Act would make offshore tax dodging even worse than it was before. The Center on Budget and Policy Priorities similarly found that the plan is “likely to lead to more […]
April 16, 2018 • By ITEP Staff
Tax season comes to a close this week, and Tax Day serves as a good time to reflect on who pays taxes in North Carolina. The income tax is, naturally, at the foremost of our minds, but often ignored as one of the best tools to align our tax code with taxpayers’ ability to contribute […]
April 16, 2018 • By ITEP Staff
While undocumented immigrants in New Jersey now face greater threats from the federal government than ever before, new data at the state and county level released by the Institute on Taxation and Economic Policy make clear that the Garden State’s undocumented immigrants are an important economic benefit to this immigrant-rich state. Read more here
April 16, 2018
We are also not fixated on cutting taxes for the wealthy at the expense of the middle class. According to the Institute on Taxation and Economic Policy, Texas is home to the third-most unfair state and local tax system in the country, with middle-class and working families paying disproportionately higher rates than the wealthiest Texans. […]
April 16, 2018 • By ITEP Staff
It is not a coincidence these movements took place in Republican-led states in which tax cuts take precedence over funding education. An example is Kentucky House Bill 366, which would cut taxes of the state’s wealthiest residents while increasing taxes of low-wage earners, according to the Institute on Taxation and Economic Policy.
April 15, 2018
Matthew Gardner, a senior fellow with the Institute on Taxation and Economic Policy, added that Amazon aggressively fought off calls for years that it start collecting such taxes. Avoiding collection of this money for that long gave the company a huge advantage with shoppers and greatly disadvantaged bricks-and-mortar retailers, he said. Read more
April 15, 2018
Under the Republican tax bill, New Jersey and five other states, four of which now pay more to Washington than they receive in services, will contribute a greater share of federal income taxes than they do now, according to the Institute on Taxation and Economic Policy, a progressive research group. Read more
April 15, 2018
ITEP’s corporate data was featured on Last Week Tonight with John Oliver
April 13, 2018
Yatziri has recently benefited from her DACA status, and her tax dollars have helped fuel the $2 billion dollars in state and local taxes contributed by DACA recipients across this country. According to Meg Wiehe, deputy director at the Institute on Taxation and Economic Policy, this money was instrumental in a circuit court judge’s decision to halt […]