Citations
6,237 posts
Economic Security Project: The Equity & Prosperity Agenda: A Tax Plan to Promote a Fair, Inclusive, and Competitive Economy
• By ITEP Staff
The expiration of the Trump Tax Cuts and Jobs Act (TCJA) in 2025 is a critical opportunity to set economic policy for the next decade. The TCJA has been an abject failure for American families. Every year since it passed in 2017, it has diverted taxpayer money to exorbitant tax breaks for the ultrawealthy and powerful corporations while everyday Americans have struggled to make ends meet. The 2025 tax fight is our opportunity to promote competition…
Business Insider: What a Trump or Harris Presidency Would Mean for Your Tax Bill
October 31, 2024
In the fourth installment of BI's five-part series in the final stretch before the election, Business Insider is looking at the ways each candidate's policies could affect how much you pay in taxes. (Read part one about investments, part two about costs, and part three about housing.)
California Budget & Policy Center: California’s Undocumented Residents Make Significant Tax Contributions
• By ITEP Staff
California’s undocumented residents contribute nearly $8.5 billion in taxes, playing a crucial role in supporting public services while remaining excluded from essential programs. Read more.
ITEP’s Brakeyshia Samms on Race and the 2017 Trump Tax Law
• By Brakeyshia Samms
On October 25, 2024, ITEP Policy Analyst Brakeyshia Samms discussed race and the 2017 Trump tax law on the webinar “The 2025 Sunsetting of Tax Cuts and Jobs Act (TCJA): Tax Justice on the Frontlines,” which was hosted by the American Bar Association’s Section of Civil Rights & Social Justice. Slides can be downloaded here […]
ITEP’s Eli Byerly-Duke on Oklahoma’s Sales Tax Relief Credit
• By Eli Byerly-Duke
On October 23, 2024, ITEP Policy Analyst Eli Byerly-Duke presented to an interim study in the Oklahoma House focused on modernizing the Sales Tax Relief Credit. Click here for slides Click here for video (his remarks begin around the 1:06:00 mark)
New York Times: Trump Flirts With the Ultimate Tax Cut: No Income Taxes at All
October 24, 2024
Former President Donald J. Trump has spent much of the presidential campaign brainstorming new, and sometimes untested, ways to cut taxes. In the election’s final stretch, he raised the possibility of going even further: eliminating income taxes entirely.
AFSCME: Trump’s Tax Plans Would Benefit the Rich, Harris’ Plan Would Benefit Everyone Else
• By ITEP Staff
Donald Trump’s tax plan would cut taxes for the wealthiest Americans, whereas Kamala Harris’ plan would cut taxes for everyone but the wealthy. That’s the takeaway from a new analysis of the two candidates’ tax plans. Read more.
The Marshall Project: Fact-checking Over 12,000 of Donald Trump’s Statements About Immigration
October 23, 2024
The Marshall Project used text analysis to identify 13 major claims about immigration in over 350,000 of Trump’s public statements from Factba.se, some of which Trump has made 500 times or more. All of them are untrue or deeply misleading. Read more.
Accountable.us: Top 15 Corporate Beneficiaries of Trump Tax Giveaway Law Have Since Spent $839B on Shareholder Handouts
• By ITEP Staff
The 15 largest corporate beneficiaries of the Trump tax law used their savings to collectively spend $839 billion on stock buybacks and shareholder dividends in the years following the law’s passage. Read more.
CNN: Trump’s Mass Deportation Plans Would Be Costly. Here’s Why
October 19, 2024
Former President Donald Trump vows he’ll kick millions of undocumented immigrants out of the US if he’s reelected. Read more.
American Immigration Council: Mass Deportation: Devastating Costs to America, Its Budget and Economy
• By ITEP Staff
In recent months, leading politicians and policymakers have renewed calls for mass deportations of immigrants from the United States. While similar promises have been made in the past without coming to fruition—during the 2016 presidential campaign, for example, Donald Trump pledged to create a “deportation force” to round up undocumented immigrants —mass deportation now occupies a standing role in the rhetoric of leading immigration hawks. To cite just one example, former U.S. Immigration and Customs…
New York Times: How Trump’s Radical Tariff Plan Could Wreck Our Economy
October 18, 2024
As a result, tariffs would raise the cost of living more for middle- and lower-income families than the average. An estimate by the Institute on Taxation and Economic Policy, which assumes a 20 percent tariff, finds that it would reduce the real income of families in the bottom fifth of earners by 5.7 percent, of middle-income families by 4.6 percent, but of the top 1 percent by only 1.4 percent. An analysis by the Peterson…
CBS News: Trump’s Plan to Deport Millions of Immigrants Would Cost Hundreds of Billions, CBS News Analysis Shows
October 18, 2024
Immigration researchers, lawyers, and economists have pointed to immense constitutional, humanitarian and economic problems posed by Trump's oft-repeated pledge. But beyond the anticipated damage to immigrant families, communities and local economies, the roundup and deportation of some 11 million people is near impossible to bankroll, according to an analysis of U.S. budget and immigration court data by CBS News.
Variety: From Tariffs to Taxes to Tyranny, Hollywood Braces for the Possibility of a Donald Trump Victory
October 18, 2024
Abbasi’s experience says a lot about the anxiety gripping the entertainment world as it watches a tumultuous, enormously consequential election unfold. From corporate suites to studio lots, Hollywood is bracing for a possible Trump return, one that could bring chaos and deepen political divisions in a polarized country.
Audio: ITEP’s Amy Hanauer Talks Presidential Tax Plans on NerdWallet Podcast
October 17, 2024
Paycheck Politics: What Presidential Tax Plans May Mean for Your Wallet. Listen here.
Washington Center for Equitable Growth: The Promise of Equitable and Pro-Growth Tax Reform
• By ITEP Staff
The impending expiration of large portions of the 2017 Tax Cuts and Jobs Act at the end of 2025 presents federal policymakers with a significant opportunity to reform the federal tax code in the United States. Too often, political openings for pro-growth tax reform have instead been transformed into opportunities to introduce new tax cuts for those at the top of the income and wealth distribution. Proponents of these tax cuts usually defend their actions…
Washington Post: “Off the Charts”: How Trump Tariffs Would Shock U.S., World Economies
October 16, 2024
Former president Donald Trump is campaigning on the most significant increase in tariffs in close to a century, preparing an attack on the international trade order that would likely raise prices, hurt the stock market and spark economic feuds with much of the world.
New York Times: Trump and Harris Both Like a Child Tax Credit, but With Different Aims
October 16, 2024
Vice President Kamala Harris has made an expanded child tax credit central to her campaign, and former President Donald J. Trump boasts, “I doubled the child tax credit.” With a quick look, voters might think the child-rearing subsidy the rare matter on which the rival candidates agree.
Los Angeles Times: Here Are 4 Campaign Promises from Trump. What Are Their Chances if He Wins?
October 16, 2024
The economic impacts would be huge. In California, an estimated 1.5 million workers — 7% of the state’s labor force — are undocumented, according to the Pew Research Center. The Institute on Taxation and Economic Policy, a left-leaning think tank, found that undocumented workers paid $96.7 billion in taxes in 2022, including $8.5 billion in California.
Mother Jones: Trump’s Reverse Robin Hood Tax Cuts of 2017
October 16, 2024
On October 7, the nonpartisan Institute for Taxation and Economic Policy released an analysis of whom Trump’s tax proposals would benefit. It’s probably not you.
Grist: Trump’s Proposed Mass Deportations Could “Decimate” the US Food Supply
October 15, 2024
As Republican presidential nominee Donald Trump campaigns for a second term in the White House, the former president has repeatedly promised to enact the largest deportation of undocumented immigrants in U.S. history. It’s a bold threat that legal experts say should be taken seriously, despite the significant technical and logistical challenges posed by deporting 11 million people from the U.S.
Business Insider: The Top 5% Will Benefit from Trump’s Tax Plans While the Rest of America Pays More, a New Analysis Says
October 11, 2024
According to a new analysis from the Institute on Taxation and Economic Policy — a left-leaning think tank — Trump's tax and tariff proposals could spur an average tax cut of about $36,300 for the richest 1% of Americans, or those with incomes of $914,900 and above. Beyond that, ITEP expects the next-richest 4% to receive an average tax cut of about $7,200.
Pittsburgh Post-Gazette: Pennsylvanians Favor Citizenship, Not Deportation, for Unauthorized Immigrants in New Survey
October 11, 2024
But even as most polls show Trump is preferred over Vice President Kamala Harris on immigration, his policy prescription is not the one that Pennsylvanians prefer, according to survey results released Thursday.
North Carolina Budget & Tax Center: North Carolinians Deserve the Credit
• By ITEP Staff
Despite strong state performance in job growth and employment, too many households in North Carolina are struggling to make ends meet and cope with the rising cost of living — especially those with young children. Widespread low incomes and elevated poverty rates are preventing families from meeting their needs, reaching their potential, and contributing their full talents to our communities. The prevalence of this financial hardship has direct consequences for the long-term well-being of children…
Salon: Expert: Analysis shows Trump tax plan “taking money” from bottom 95% and “giving it” to richest 5%
October 9, 2024
Former President Donald Trump's proposed tax plan would create tax cuts for the nation's top 5% of earners while leaving the rest of Americans to shoulder tax increases by 2026, according to a new analysis.
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