Citations
ITEP's Citations Research Priorities
West Virginia Metro News: West Virginia Has Miserable Company When It Comes to Budget Troubles
May 14, 2017
If there’s a bright side to West Virginia’s state budget troubles — in a misery-loves-company kind of way — it’s that plenty of other states have been having trouble too. “West Virginia is not unique this year or even in recent years in taking a little longer than usual to agree on a budget, largely […]
National Law Review: Beneficiaries of $14.4 Billion Over Last Decade, Tax Lobbyists Ready for Trump Bonanza
May 13, 2017
About 4,000 registered lobbyists work on tax issues in the nation’s capital, but spending is highly concentrated among large multinational conglomerates and trade organizations. Fifteen companies and organizations, ranging from the U.S. Chamber of Commerce to the American Association of Retired Persons, have spent more than $2.7 billion while lobbying on tax issues since 2008, […]
The American Prospect: Trickle Downer of the Week
May 11, 2017
Meanwhile, the Trump administration works tirelessly to ease tax rates for millionaires, billionaires, and corporations while ripping away affordable health care for everyone else. The president wants to dramatically reduce the 35 percent corporate tax rate under the guise of spurring economic growth. Yet research has shown that many companies pay nowhere near the top […]
Education Week: Federal Tax Credits Poised to Make a Big Education Impact
May 11, 2017
Given DeVos’ repeated states-rights pronouncements, it also seems likely that individual states will have substantial ability to shape how tax credits scholarships are distributed in their jurisdictions to support their vision of public education. Each state will have to protect itself, and its children, against waste, fraud and abuse that are already apparent in state […]
Fast Company: Drain the Swamp? Tax Lobbyists Are Ready for Trump Bonanza
May 11, 2017
The lobbying activity has coincided with a continuing slide in the percentage of federal revenues collected from corporate income taxes. During the 1950s, corporate taxes made up 28% of federal revenue. By 2015, the corporate share had fallen to roughly 11%. Individual income tax receipts have remained relatively stable, accounting for almost half of federal receipts. […]
Bloomberg BNA: Q and A with ITEP’s Meg Wiehe
May 10, 2017
Bloomberg BNA: Tell us a little bit about yourself and your work at the Institute on Taxation and Economic Policy (ITEP)? Wiehe: I am ITEP Deputy Director, my primary responsibility being to plan and execute state policy work, so I have a real bird’s eye view for what is happening in all 50 states, plus […]
Evidence Counts: Latest Compromise Tax Plan Still a Bad Deal for West Virginia
May 10, 2017 • By ITEP Staff
Last week, the governor called the legislature back into special session to continue work on the state budget. The actual budget bill, however, was not part of the call, instead the intention was for the legislature to vote on a compromise tax plan that would influence how the budget was finalized. The version of the plan ( […]
Governing: Raising the Gas Tax Is No Longer Taboo in Many States
May 7, 2017
Already this year, governors in California, Indiana and Tennessee signed laws to raise fuel taxes, meaning a total of 22 states have passed laws imposing higher gas taxes in the past five years. Chances are also good that the list will grow even longer this year. “It is such an unusual thing to see nearly […]
Maryland’s Money Matters: ‘Dreamers’ Make Important Contributions to Maryland
May 5, 2017 • By ITEP Staff
It is unclear, as of now, whether the Trump administration will choose to end protections for young adults who came to the U.S. as children and have legal status through the Deferred Action for Childhood Arrivals (DACA) program. If the administration elects to end the program, thousands of Marylanders could lose their jobs and ability to attend college, many business could lose valued workers, and Maryland could lose nearly $14 million annually in state and local tax revenue.
International Business Times: Who Ends Up Paying for the Gig Economy?
May 4, 2017
As the gig economy has grown, the tax gap has widened. Because of inconsistencies in sales tax policies, state and local governments across the U.S. may be missing out on $300 million in annual tax revenues from transportation network companies like Uber and Lyft, according to a March study from the non-profit Institute on Taxation […]
San Diego Union Tribune: Report Tallies Taxes from Unauthorized Immigrants
May 4, 2017
Unauthorized immigrants in San Diego County pay an estimated $218.5 million in state and local taxes annually, according to a report from the left-leaning Institute on Taxation and Economic Policy. That amount could increase by more than $30 million, according to the report, if those unauthorized immigrants were granted legal status. In California as a […]
Charleston Gazette Mail: Beware a Compromise That Takes from the Poor and Gives to the Rich
May 3, 2017
An assessment by Mark Muchow, deputy secretary of the Department of Revenue, estimates that by 2020, this will cause a revenue decline of $220 million due to income tax cuts. This would come on top of year after year of major budget cuts. On top of that, the Institute on Taxation and Economic Policy found […]
Between the Lines: Trump Tax Plan Revives Economic Voodoo
May 3, 2017
On April 26, just a few days short of President Trump’s 100th day in office, a so-called “tax reform” plan was released by the White House that consisted of bullet points on a single printed page. Although there were few details on implementation and the net impact on families and federal revenue, it was clear […]
The Progressive Pulse: Young Undocumented Immigrants’ Tax Contributions Would Drop by Nearly Half Without the Protection of the DACA Program
May 3, 2017 • By ITEP Staff
Young immigrants eligible for DACA (Deferred Action for Childhood Arrivals) annually contribute $2 billion in state and local taxes, according to new analysis from the Institute on Taxation and Economic Policy. The ITEP report finds that this number would drop by nearly half without DACA protection at a time when the Trump Administration has sent mixed signals on whether it intends to honor the DACA executive order in the long term.
NBC News: Even Families Making $100K Won’t Be Better Off Under New Tax Plan
May 2, 2017
This might not help taxpayers who live in states with high state and local taxes. Currently, taxpayers in the bottom half of the top income quintile — that is, those with an average income of $129,000 — pay nearly 11 percent in state and local taxes as a percentage of income, according to the Institute […]
CNBC: Trump’s Tax Holiday Could Be a Windfall for These Stocks
May 2, 2017
On a per-share basis, the company’s foreign earnings left overseas come to more than $40 a share, according to CNBC calculations using figures from a recent report by the Institute on Taxation and Economic Policy. Unlike Apple, most companies do not report overseas cash breakdowns. But regulations do require that they report money that will […]
Associated Press: Tax Package Backed by Nebraska Gov. Ricketts Stalls
May 2, 2017
The bill would have given a larger benefit to wealthy residents who pay a larger share of their income at the top tax rate. Supporters said the income tax portion was largely aimed at small businesses that would promote job growth and diversify the economy. Critics said the package doesn’t do nearly as much for […]
Oklahoma Policy Institute: Itemized Deduction Reform is a Promising State Budget Solution
May 2, 2017 • By ITEP Staff
When Oklahomans filed their state income taxes in 2016, more than 70 percent of households used the standard deduction, which was $6,300 for individuals and $12,600 for married couples filing jointly. The remaining households itemized their deductions, adding up deductions for mortgage interest, charitable contributions, business expenses, and several other deductions allowed under federal and state tax laws. […]
Bloomberg: Trump Study of Gas Tax Could Run Afoul of GOP, Rural Voters
May 1, 2017
Voters in rural areas overwhelmingly chose Trump over Democrat Hillary Clinton in the 2016 presidential election, and a higher gas tax also may indeed affect those areas disproportionately, said Carl Davis, research director for the Institute on Taxation and Economic Policy, a non-profit research organization in Washington. The gas tax is regressive, meaning it puts […]
The Minneapolis Star-Tribune: Tax the Rich? Done. Tax Fairness, Well …
April 29, 2017
A broader comparison of all state and local taxes comes from the Institute on Taxation and Economic Policy, a progressive Washington research group. It, too, ranks Minnesota’s tax system today among the country’s most progressive — or, as ITEP says, among the “least regressive.” “Virtually every state tax system is fundamentally unfair,” the report declares, […]
The Hill: Making Wall Street Loopholes Great Again
April 29, 2017
The choice of Cohn and Mnuchin as the faces of Trump’s tax plan really says it all. Their former employer, Goldman Sachs, is already a champion tax dodger. When Cohn stepped down as the bank’s president to join the administration, Goldman had $31 billion in untaxed offshore profits and 987 tax haven subsidiaries, according to […]
PBS News Hour: Corporations Go Overseas to Avoid U.S. Taxes
April 29, 2017
PATRICIA SABGA: From the White House to Capitol Hill, Republicans are determined to lower the 35 percent corporate tax rate — the highest of any developed economy. Matt Gardner is a Senior Fellow with the Institute on Taxation and Economic Policy, a liberal, Washington-based think tank. MATT GARDNER: The biggest, most profitable corporations are now […]
Roll Call: As GOP Tax Overhaul Shapes Up, Democrats Push to End the Tax Return
April 28, 2017
Groups like Grover Norquist’s Americans for Tax Reform, which advocates a flat tax, have also opposed return-free filing, saying it would allow the IRS to “intimidate” taxpayers into paying whatever is on the pre-filled return. Richard Phillips, a senior policy analyst at the left-leaning Institute on Taxation and Economic Policy, said anti-tax organizations also want people to find doing […]
Crain’s Chicago Business: How Much Do Illinois Companies Pay in Taxes?
April 28, 2017
Illinois’ Fortune 500 companies are paying less and less in state corporate taxes—and sometimes, almost nothing at all. A new report by the Institute on Taxation and Economic Policy found certain corporations are finding ways to shelter much of their profit from state taxes. The eight-year study looked at 240 Fortune 500 companies from 2008 […]
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