Citations
ITEP's Citations Research Priorities
Scripps News: How Billionaires and Corporations Avoid Taxes
March 7, 2023
Across the U.S., some of the nation’s top earners have a toolbox full of mechanisms to build wealth. Read more.
OpenSky Policy Institute: Policy Brief: Consumption Tax
March 3, 2023 • By ITEP Staff
The consumption tax proposal in LB 79 would require a rate of 22.1 percent to be revenue neutral, OpenSky analysis conducted with the Institute on Taxation and Economic Policy finds. This rate is nearly three times greater than what is proposed in the bill. Further, OpenSky estimates that if the consumption tax were to be […]
Wall Street Journal: New Jersey Is Latest State to Push Tax Relief Despite Economic Uncertainty
February 28, 2023
New Jersey Gov. Phil Murphy on Tuesday will propose another $2 billion in property-tax rebate checks as part of a $53 billion state budget, a state treasury official said, making it the latest state to push ahead with tax-relief proposals despite recession concerns. Measures under discussion in more than a dozen states vary widely but the trend cuts […]
New York Times: I.R.S. Decision Not to Tax Certain Payments Carries Fiscal Cost
February 27, 2023
More than 20 state governments, flush with cash from federal stimulus funds and a rebounding economy, shared their windfalls last year by sending residents one-time payments. This year, the Biden administration added a sweetener, telling tens of millions taxpayers they did not need to pay federal taxes on those payments. Read more.
Policy Matters Ohio: Speaker’s #1 priority – Tax cut for the rich
February 23, 2023 • By ITEP Staff
One of Ohio House Speaker Jason Stephens’ top-priority bills, House Bill 1, is a massive giveaway to the rich, and the first of two such proposals by leading Republicans in Ohio’s House. According to a new analysis by Policy Matters Ohio, HB 1 slashes funding to children and all manner of local services, does nothing […]
Kansas Reflector: Kansas Senate Flat Tax Would Cut $1 for Low-Wage Earners, Hand Windfall to Top 1%
February 22, 2023
A flat tax plan moving through the Senate is structured to provide minimal relief to low-income Kansans while granting a windfall to high wage earners. Read more.
Minnesota Budget Project: Governor Walz Releases FY 2024-25 Budget Priorities
February 16, 2023 • By ITEP Staff
The Walz administration’s recently released budget proposal names as their priorities making Minnesota the best state for children, investing in the state’s economic future, and promoting the health and safety of Minnesotans. Read more.
Kansas Action for Children: Flat Tax: Simple Doesn’t Mean Smart
February 16, 2023 • By ITEP Staff
The state has seen increased revenue in recent years, with the state budget including millions of dollars in surplus revenue. The temporary, higher receipts have led to several tax cut proposals. Now, some politicians and special business interest groups are proposing to use lingering budget surpluses to tilt the tax code even further in their favor. […]
Fortune: More Than Half of States are Considering Personal Income Tax Cuts This Year
February 15, 2023
State governments are still flush with cash from federal COVID-19 aid dollars and increased revenues. And more than half are considering using those budget surpluses to institute or accelerate tax cuts for residents. Read more.
Yahoo Finance: Stock Buybacks Have Surged in the Weeks Since Washington Began Taxing Them
February 13, 2023
A new excise tax on stock buybacks went into effect Jan. 1 and has been followed by what seems to be an unexpected development: corporate share repurchase announcements have exploded. Read more.
Oklahoma Policy Institute: The Needs of Everyday Oklahomans Outweigh Tax Cuts that Benefit the Wealthy
February 13, 2023 • By ITEP Staff
As Oklahoma’s 2023 legislative session begins, the perennial push for tax cuts that would shrink state revenue will likely return. In 2022, leaders of the Oklahoma House of Representatives championed tax cuts – primarily focusing on reducing the personal income tax, the corporate income tax, and the sales tax on groceries. Ultimately, the legislative session ended without any major […]
CBS News: States are Flush with Cash. It’s Setting Off ‘Tax Cut Fever.’
February 11, 2023
Even as the U.S. economy shows signs of slowing down, many states around the U.S. are flush with cash, with their so-called rainy day funds estimated to reach a record high of $136.8 billion this fiscal year. And lawmakers in more than half of states are responding to their new cash cushions with similar proposals: cutting taxes. […]
FiveThirtyEight: Congress’s U-Turn Has States Thinking About Giving Parents Cash
February 9, 2023
Last year, Congress walked away from what looked like one of the most effective fixes for child poverty in a generation. Now, state legislators are trying to walk it back. Lawmakers in at least 10 states are considering some new version of the expanded child tax credit, a federal program that lifted millions of children out of poverty but […]
Wall Street Journal: Top GOP Tax Legislator Says He’ll Boost Workers, Probe Companies
February 7, 2023
Rep. Jason Smith (R., Mo.), the House’s new top tax writer, is promoting an approach he says would favor working-class Americans over large corporations, a shift in tone from his predecessors that raises questions about companies’ ability to push tax cuts through Congress. Read more.
The White House: Fact Sheet: The Biden Economic Plan Is Working
February 6, 2023 • By ITEP Staff
President Biden has long believed that we must build the economy from the bottom up and middle out, not the top down. … In 2020, 55 of the largest corporations that were profitable paid $0 in federal income tax. To end that unfairness in the tax code, President Biden signed into law a 15 percent minimum tax […]
States Newsroom: States Take Heat for Spending Federal Relief Funds on Tax Cuts, Prisons
February 2, 2023
As states plan how they’ll spend the $25 billion remaining in federal COVID relief funds, some also are facing criticism and renewed scrutiny over how they allocated money already received from the American Rescue Plan Act. Read more.
Hawaiʻi Budget & Policy Center: Closing the Capital Gains Loophole
February 1, 2023 • By ITEP Staff
Eliminating the preferential tax treatment of capital gains income will increase tax fairness and help fund our future. Read more.
New Jersey Policy Perspective: How an Expanded Child Tax Credit Would Help More Hard-Working New Jersey Families
January 31, 2023 • By ITEP Staff
Doubling the maximum credit amount would help hundreds of thousands of children and their families pay for basic needs. Read more.
Kansas Reflector: Analysis Show Kansas Chamber’s Flat Tax Proposal Costs $1.5B, Favors Top 20% of Wage Earners
January 30, 2023
Assessments by the Kansas budget director and an independent tax policy institute Monday showed the flat tax proposal by the Kansas Chamber would reduce the state budget by $1.5 billion per year and primarily benefit the state’s most affluent wage earners. Read more.
Center for Public Integrity: How Will a Divided Government Affect Taxes?
January 27, 2023
House Republicans want tax changes that experts say would increase inequality and aren’t likely to pass the Senate. In a gridlocked federal landscape, states may hold the key. Read more.
Idaho Statesman: A Warning About Cutting Taxes in States Like Idaho That are Flush with Cash
January 27, 2023
During his State of the State address this year, Idaho Gov. Brad Little quoted Lt. Gov. Scott Bedke’s piece of ranch family wisdom. “It won’t be the bad years that put you out of business; it’s what you did in the good years that sets you up for failure or success.” Flush with cash, too […]
The American Prospect: Reanimating the Taxman
January 26, 2023
At its core, the Internal Revenue Service (IRS) is the federal government’s revenue collector and benefits administrator. Yet with Congress inclined to run virtually every function of the government through the tax code in some form, the agency is equivalent to the central processing unit of every electronic device on the planet. Read more.
Wisconsin Examiner: Tax Analyst Says Flat-Rate System Will Benefit Wealthy at the Expense of the Majority
January 26, 2023
The wealthiest Wisconsin residents already pay a smaller share of their incomes in state taxes than the rest of the population, and replacing the state’s current graduated-rate income tax structure with a flat tax would increase that disparity, a national tax expert says. Read more.
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