Citations
6,231 posts
Bloomberg BNA: Higher Gas Prices May Mean Paying States More in Taxes
May 1, 2018
As a result, a few states will see revenue gains from higher prices because their tax rates are tied to the price of fuel, rather than its volume, Carl Davis, research director for the left-leaning Institute on Taxation and Economic Policy, told Bloomberg Tax. Those states include California, Connecticut, Kentucky, Maryland, Nebraska, New Jersey, New […]
Education Week: Want to Support Schools? Stop Cutting Taxes
April 30, 2018
In fact, a 2013 Institute on Taxation and Economic Policy study found that states with high tax rates are outperforming no-tax states, particularly in per capita gross state product: 8.2 percent per capita growth in gross state product compared with 5.2 percent in no-tax states. Read more
The Arizona Republic: Will #RedforEd teachers support soaking the rich to better fund Arizona schools?
April 30, 2018
Lujan says it’s is all about balancing an out-of-whack tax structure that is too dependent on sales taxes – one that has left low-income Arizonans paying far more in taxes as a percentage of their income than the wealthy. Indeed, 40 percent of Arizona taxpayers – those who earn an average of $28,300 a year […]
Center for Tax and Budget Accountability: Cutting Taxes for the Middle Class and Shrinking the Deficit
• By ITEP Staff
According to the Institute for Taxation and Economic Policy, Illinois ranks as the fifth-most-regressive state and local tax system in the country — and the most regressive in the Midwest. In Illinois, the top one percent of income earners pay just 4.6 percent of their income in state and local taxes, while the middle 20 percent of workers pay more than double that, coming in at 10.8 percent of income, and the bottom 20 percent of earners…
Beacon Journal/Ohio.Com Editorial Board: Agenda For The Governor’s Race
• By ITEP Staff
In one week, Democratic and Republican voters will choose their candidates for the November election. That includes the selections for governor, the job coming open after eight years with John Kasich. The governor has his achievements, most notably, the Medicaid expansion. His tenure also frames a worthy debate for this campaign. Fortunately, Innovation Ohio and Policy Matters Ohio, two think tanks, highlighted that discussion last week in unveiling their report “A Winning Economic Agenda for…
Detroit Free Press: Trump’s Tax Law Saves These Companies Millions
April 29, 2018
For example, embattled Wells Fargo saved $662 million off its tax bill during the first three months of 2018. Those tax savings promise to quickly wipe out the $1-billion fine the bank agreed this month to pay to settle mortgage and auto loan violations against its customers. And Google’s parent company saved as much as $1 billion […]
Iowa Fiscal Partnership: IFP’s Tax Policy Kit
• By ITEP Staff
IFP's Tax Policy Kit offers resources for the public, advocates and policy makers who want to better understand the stakes — and sort away the spin — on state tax debates.
Washington Post: Democrats’ Tax Plan Looks an Awful Lot Like a Big Giveaway to the Wealthy
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 […]
Vox: Arizona Teacher Walkout: How 3 Decades of Tax Cuts Suffocated Public Schools
• 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 […]
CNN: Where Dissatisfied Teachers Are Taking Action Next
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
American Prospect: Even the CBO Says the GOP Tax Reform Will Incentivize Corporate Offshoring
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 […]
Public Radio East: NC Continues To Fall Behind In Education Funding
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
Associated Press: The Inherent Limits of Tax Cuts
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 […]
New York Times: Amazon’s Critics Get New Life with Trump’s Attacks on the Company
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 […]
Providence Journal: Hike Taxes to Invest in Rhode Island
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 — […]
Kentucky Center for Economic Policy: New Tax Law Shifts from the Wealthy to Kentuckians of Color and Economically Distressed Regions of State
• 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.
The Courier-Journal: What the Recent Tax Bill Means for the Average Kentuckian
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. […]
The American Prospect: The Big Tax Lie
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, […]
The Week: Americans Don’t Pay Enough in Taxes
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 […]
New Mexico Voices for Children: Celebrate Democracy- It’s Tax Day!
• 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 […]
Associated Press: How Will Taxes Change
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 […]
Maine Center for Economic Policy: Comparing the Democratic and GOP tax bills
• 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 […]
On Tax Day, a Look at How Federal Tax Changes Impact Arkansans
• 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…
Think Progress: CBO Confirms Tax Law Will Worsen Offshore Tax Dodging
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 […]
NC Budget and Tax Center: North Carolina’s Upside Down Tax Code
• 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 […]
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