Institute on Taxation and Economic Policy (ITEP)

Citations

ITEP's Citations Research Priorities

MassBudget: Sweeter than SALT: Highest-Income Households Get Federal Tax Cuts More Than Twice SALT Losses

January 11, 2018 • By ITEP Staff

For Massachusetts’ highest-income households – those with annual incomes over $1 million – the average tax cuts from other federal changes in the law are more than twice the average size of the impact from the loss of SALT deductibility.

It’s All About the Context: A Closer Look at Arkansas’s Income Tax

January 10, 2018 • By ITEP Staff

The tax task force is rounding out its extensive review of the Arkansas tax code this week by looking at one of the most contentious tax topics these days: income taxes. So, are we a high-income-tax state or a low-income-tax state? In Arkansas, it depends a lot on how much money you make, and how you make it. For example, retirement income is exempt for the first $6,000; military retirement income is completely exempt; there are border-city exemptions if you work in Texarkana; and capital gains income from things like stocks or real estate sales is taxed much more leniently…

The Hill: Why You Shouldn’t Pay Attention to What Companies Say about Their Tax Bills

January 9, 2018

Following in an excerpt from an op-ed by ITEP Senior Fellow Matthew Gardner that appear in The Hill: A flurry of announcements by corporate giants such as Goldman Sachs, Morgan Stanley, American Express and others are informing their shareholders of expected “losses” in 2018 because of the new tax law’s requirement that they pay taxes […]

Salon: Apple’s Biggest Innovation Isn’t Gadgets. It’s Dodging Taxes

January 9, 2018

Why would so many American companies register themselves in the Caymans? Elementary. American tax law allows corporations to defer paying taxes on profits earned overseas, until those profits are repatriated back home. So here’s what you do, if you’re a major corporation. You set up a subsidiary in a tax haven. You hide your domestic […]

The Fiscal Times: More States Are Turning to Toll Roads

January 9, 2018

Nineteen states have waited a decade or more since last increasing their gas tax rates. Another 13 states have gone at least two decades, and three states — Alaska, Oklahoma and Mississippi — have not increased their gas tax rates since the 1980s, according to the Institute on Taxation and Economic Policy, a progressive think tank […]

MTPR: Federal Tax Bill Casts Uncertainty on Montana’s Budget

January 8, 2018

The federal tax bill could result in about another one percent loss, under one of the state’s interpretations of the federal law’s impacts. Meg Wiehe is deputy director the left-leaning Washington D.C. based Institute on Taxation and Economic Policy. She says that there was an amendment added to the federal tax bill to prevent a […]

CBS St. Louis: Metro East Gubernatorial Candidate Wants Progressive Income Tax

January 4, 2018

Democrat Bob Daiber, currently Madison County’s Regional Superintendent of Schools, claims Illinois’ tax system is fifth most regressive in the nation — citing the Institute on Taxation and Economic Policy. “There’s an old saying ‘you can’t squeeze blood from a turnip,’ but we continue to try,” Daiber told reporters during a Chicago news conference. “I […]

Philadelphia Business Journal: New Federal Tax Loophole Could Stoke Interest in Private School Donations

January 2, 2018

Changes to the federal tax code could encourage more Pennsylvania businesses to pump money into K-12 private schools instead of paying state taxes. That’s according to an analysis by the nonprofit Institute on Taxation and Economic Policy (ITEP), which says it discovered an expanded loophole in the new law. By cross-referencing federal and state incentives, […]

Select state coverage of ITEP’s analyses of Republican tax Plans

January 1, 2018

Burlington County Times: Will Phil Murphy raise NJ’s taxes (and 4 other political questions for .. Kaplan Herald: This chart exhibits how the GOP tax plan will hit your pockets Wiscnews: Tax cuts increase inequity Patch.com: MacArthur Touts Tax Reform; Will It Help NJ As Much As He Says? NJ.com: Long lines spring up as […]

NPR: This Tax Loophole for Wealthy Donors Just Got Bigger

December 29, 2017

One of the changes, according to the Institute on Taxation & Economic Policy, which advocates for a “fair and sustainable” tax system, allows far more wealthy donors in 10 states to turn a profit through “donations” to private school scholarships. Yes, you read that right. If your income is high enough, you can actually make […]

Nasdaq: The New GOP Tax Law and Millennials

December 29, 2017

Still there remains much confusion on what will happen to Jane and Joe’s taxes. From CBS: Tax experts are combing through the legislation to get a handle on how its new tax brackets and treatments of everything from bonds to charitable donations will impact their clients. Meanwhile, Republican leaders say the tax bill will put more money […]

The Observer: ITEP Responds to MacArthur on GOP Tax Plan

December 28, 2017

Excerpt from op-ed by Meg Wiehe: Rep. Tom MacArthur’s Dec. 27 op-ed cherry-picked data from analyses by my organization, the Institute on Taxation and Economic Policy (ITEP), to bolster his misguided claim that New Jerseyans are against the GOP-Trump tax plan because they don’t have the proper information. This suggestion insults his constituents’ intelligence. Polling […]

The Washington Journal: Greater Washington’s Achilles’ heel on tax cuts: Its pricey real estate

December 28, 2017

Greater Washington’s high median income should have set up the region to reap more than its share of $1.5 trillion in tax cuts passed by Congress and signed by President Donald Trump this month — but the region’s high real estate values will blunt its impact for many regional taxpayers. The D.C. metro area reported […]

The Street: General Electric Has Seen Almost $70 Billion of Its Value Disappear in 2017

December 27, 2017

GE was one of 18 Fortune 500 companies that paid no net federal income taxes between 2008 and 2015, a study by the Institute on Taxation and Economic Policy found. Though GE did report paying some federal taxes in 2010, its overall rate during the period has been negative. In 2016, the company earned $10 […]

Alternet: Republican Tax Plan Opens Backdoor to Federally Supported School Vouchers

December 25, 2017

Another voucher-like provision Republicans put into the tax code will not have as much immediate impact as the 529 extension but may have much more negative and wide-reaching effects long-term. As an analysis by the Institute on Taxation and Economic Policy explains, a loophole added to the tax bill in conference “reward[s] some of the nation’s […]

Vanity Fair: “You All Just Got a Lot Richer”

December 24, 2017

When Donald Trump and the Republican party unveiled its precious tax legislation, outside analysts immediately noted that the bill seemed designed to favor a slim subset of Americans. The Institute on Taxation and Economic Policy, for example, found that almost a third of the plan’s benefits would go to the wealthiest 1 percent of Americans […]

Fortune: Real Estate Investors Will Love This Last-Minute Change to the Tax Plan

December 22, 2017

This is an excerpt from an op-ed by ITEP Senior Fellow Steve Wamhoff that appeared in Fortune. A last-minute change to the just-passed tax plan that would benefit real estate investors like Donald Trump should surprise no one. He loudly opposed 1986 tax reform legislation because it shut down tax shelters for real estate investors […]

Pittsburgh Post-Gazette: Tax Changes Could Help Parochial Schools

December 22, 2017

As a result, a preferred private school gets funding, which it must use to offset tuition for low-income students. The donor loses almost nothing. There are certain tax situations in which business owners can give, say, $10,000 and see their total tax bill drop by more than that amount, said Carl Davis, research director at […]

Investors’ Business Daily: GE Cash Crunch That Hit Dividend May Get Worse Under Trump Tax Cuts

December 22, 2017

Companies had held off on paying income taxes on foreign earnings until those funds are returned, or repatriated, to the U.S. The 35% domestic rate has led several companies to stockpile profits abroad, leading to charges of tax avoidance. Several profitable U.S. companies paid an effective tax rate far less than 35% between 2008 and […]

Associated Press: Windfall for Workers Too?

December 22, 2017

Since the Senate passed its initial tax overhaul, 32 companies have announced share buybacks totaling $83.7 billion, Schumer’s office said. Matthew Gardner, a senior fellow at the liberal Institute on Taxation and Economic Policy, said companies have been ­sitting on large cash holdings for years that easily could have gone to workers ­before the tax […]

Washington Post: The Finance 202: Trump pledged to slash a key break for investment managers. Here’s the inside story of how he failed.

December 22, 2017

From the Institute on Taxation and Economic Policy: AT&T’s Tax Rate for Past 8 Years: 8.1% Boeing’s Tax Rate for Past 8 Years: 5.4% The idea that a new lower tax rate is really driving their recent PR stunts is nonsense Read more

CBS News: Bonuses for Some Workers After Tax Bill Passes

December 22, 2017

Matthew Gardner, a senior fellow at the liberal Institute on Taxation and Economic Policy, said companies have been sitting on large cash holdings for years that easily could have gone to workers long before the tax cuts passed Wednesday. Chicago-based Boeing, for example, had $8.8 billion at the end of 2016. “If these companies had […]

Kentucky Center for Economic Policy: Passage of the Dream Act Would Benefit Kentucky

December 21, 2017 • By ITEP Staff

The Institute on Taxation and Economic Policy (ITEP) estimates that 6,000 (formerly) DACA-eligible Kentuckians currently contribute a total of $8.1 million in local and state taxes annually through sales and excise taxes, property taxes and income taxes. Their effective tax rate of 9.1 percent is higher than that paid by the wealthiest 1 percent of […]

Policy Matters Ohio: Crackdown on Dreamers could cost Ohio millions

December 21, 2017 • By ITEP Staff

If DACA recipients stay in Ohio after losing work authorization they could earn lower wages and become less likely to file income tax returns. Without the Dream Act, Ohio can expect to lose at least $5 million in tax revenue, according to the Institute on Taxation and Economic Policy (ITEP). Read more here

WJLA: Republicans Predict Voters Will Like Tax Bill Once They See Benefits

December 21, 2017

Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, said it is important to look beyond the headlines to put these bonuses in context. An ITEP study found AT&T paid an average effective tax rate of 8.1 percent from 2008 through 2015, for example. “There really weren’t any impediments, in the […]