Citations
ITEP's Citations Research Priorities
Yahoo News: Flat Income Taxes: Who Are the Biggest Winners and Losers?
January 25, 2023
From Kansas to Wisconsin to Nebraska, the conversation surrounding a flat tax has picked up as of late, with more state legislators pushing for as much. Read more.
Open Sky Policy Institute: Major Tax and Education Plans Would Quickly Drain Flush State Coffers
January 23, 2023 • By ITEP Staff
The cost of high-profile K-12 finance and tax packages introduced this week would entirely consume the projected $1.9 billion that lawmakers have to enact new legislation in the current two-year budget cycle and then some. Read more.
KUOW Seattle: WA Democrats Join Nationwide Rollout of ‘Wealth Tax’ Proposals
January 20, 2023
Washington state Democrats Sen. Noel Frame and Rep. My-Linh Thai announced legislation Thursday to create a state wealth tax on financial assets in excess of $250 million. They say it could generate an estimated $3 billion per year to fund housing and education, and decrease the tax burden on working-class people. Read more.
The Commonwealth Institute: Support Virginia Families Through a Commonwealth Kids Credit
January 17, 2023 • By ITEP Staff
True economic prosperity means that families are doing well and have the resources and opportunity to thrive. By coming together, people in Virginia have won an improved Earned Income Tax Credit (EITC), increased minimum wage, and expanded workers rights in recent years — policy wins that lift families up. Yet more must be done to […]
CBS News: As Tax Season Nears, a Backlogged IRS Faces GOP Push to Stamp It Out
January 13, 2023
The IRS is gearing up for another tax season amid a slew of challenges, according to a new report. Most pressing is the need to upgrade its “antiquated” systems and hire more workers to provide better service, a watchdog group within the IRS found. Yet the agency’s leadership also faces another test: repelling the latest […]
Newsweek: Wealthy Tax Cheats Set To Benefit From Republicans’ Defunding of IRS
January 10, 2023
Now that Kevin McCarthy has finally been elected House speaker, and a new congressional term sworn in, the GOP has already voted on one of its key promises made during last year’s midterm elections: to target the Internal Revenue Service. Read more.
Governing: The Biggest Issues to Watch in 2023
January 10, 2023
State coffers are overflowing, but inflation could put a pinch on spending plans and tax cuts. The labor market remains tight just when the demand for more teachers is skyrocketing. And then there are the ongoing culture wars. Welcome to 2023. Read more.
Better Wyoming: Want to Slow Wyo’s Boom-and-Bust Cycle? Tax Jackson.
January 6, 2023 • By ITEP Staff
According to a new report by the Institute on Taxation and Economic Policy (ITEP), Wyoming has several options to generate new tax revenue from our ultra-wealthy residents and decrease the state’s reliance on boom-and-bust fossil fuels—even while keeping taxes low on the middle class. All we need to do is tax Jackson. Read more.
Vox: The Ultrarich are Getting Cozy in America’s Tax Havens at Everyone Else’s Expense
January 4, 2023
More states are slashing or eliminating taxes, lessening the burden mostly for the wealthy. What does that cost the rest of us? Read more.
Los Angeles Times: You’re Not Getting Child Tax Credit Checks Anymore. Here’s Why
January 3, 2023
If you raised children during the pandemic, you probably remember something remarkable: getting checks in the mail, every month, from the federal government. The expanded child tax credit provided a few hundred dollars to help pay for your son’s braces or your daughter’s ballet lessons — or to ease the stress over whether you had […]
The Hill: Trump Tax Returns Raise Alarms About Fairness of US Tax Code
January 3, 2023
A preliminary review of the thousands of pages of Donald Trump’s tax returns released by a key congressional committee on Friday confirms that the former president was using business losses in the tens of millions of dollars to reduce his annual tax liability, in some cases all the way down to zero. Read more.
Albany Times Union: Ending Poverty Will Take a New Look at Wealth, Too
January 2, 2023
We would do well to remember the millions of families in New York that were already experiencing the storms of poverty, inequality and policy violence, not to mention those who have nowhere safe to celebrate the holidays. Read more.
Seattle Times: Proliferation of GoFundMes Reveals a Dirty Little Open Secret
January 2, 2023
This time of year, we find ourselves touched by the generosity, grace and kindness of people helping people. Extending ourselves to others reveals the best of who we are as humans, and that emerges so clearly during the holiday season. Yet as moved as I often am by the ways people show up for each […]
Yahoo Finance: These 23 Companies Got $50 Billion in Tax Breaks Due to a Trump Tax Law
December 24, 2022
The government spending bill that was just passed through the Senate and awaits approval from Congress is estimated to total nearly $1.7 trillion. While it will fund a variety of initiatives like aid to Ukraine and enhanced retirement savings, it will not extend “accelerated depreciation” tax breaks, which were initiated during the Trump administration and seen by […]
Hawaii Public Radio: Report: State could slash child poverty in half with new tax credit
December 20, 2022
The child tax credit has been available at the federal level since 1997. Before 2021, families were able to take advantage of a $2,000 credit per child. Under the American Rescue Plan, the credit was expanded to $3,000 per child between the ages of 6 and 17, and $3,600 for every child under 6 years […]
Pluribus News: States Advance Child Tax Credits as Congress Deliberates
December 15, 2022
Lawmakers in Connecticut, New York and several other states want to expand tax breaks for families with children next year, inspired by a 2021 federal tax credit that dramatically reduced child poverty. Read more.
Montana Budget & Policy Center: Tax Credits for Workers and Families
November 23, 2022 • By ITEP Staff
Montana has an opportunity to invest high state revenues to support families and individuals and improve our tax system. State tax credits targeted to those in most need of assistance help Montanans struggling to afford necessities. By expanding the state Earned Income Tax Credit (EITC), establishing a refundable state Child Tax Credit (CTC), and passing […]
The Lever: Will Biden End An Illegal $50 Billion Tax Giveaway?
November 23, 2022
The IRS is sanctioning state laws allowing rich Americans to bypass the SALT cap and avoid billions in taxes, but a new Biden nominee could end the scheme. Read more.
Route 50: How Tax Credits Could Help States Reduce Child Poverty by 25%
November 23, 2022
Child poverty in the U.S. hit a record low last year, according to the U.S. Census Bureau, in part due to the American Rescue Plan Act’s expansion of the federal child tax credit. While the initiative expires at the end of 2021, states could continue the trend with their own child tax credit policies, a new […]
Jacobin: In Massachusetts, Unions Beat Billionaires to Pass a Tax on the Rich
November 23, 2022
Voters in Massachusetts just ratified the Fair Share Amendment, which taxes income above $1 million to fund public services. A broad coalition of labor and community groups took on billionaire money and won. Read more.
CNBC: As a Key Deadline Looms to Claim 2021 Tax Credits, Republicans Complain of ‘Suspicious Timing’ of IRS Letters
November 23, 2022
Certain tax credits were made temporarily more generous in 2021. For certain people, there still may be time to claim the money, which may add up to thousands of dollars — but some politicians aren’t happy the IRS just reminded Americans about the cash. Read more.
The Economic Progress Institute: Rhode Island Standard of Need
November 18, 2022 • By ITEP Staff
With scenic beaches, culinary and arts communities, higher education institutions, and a vibrant celebration of culture, Rhode Island can be a wonderful place to live and to raise a family. Yet many Rhode Islanders work at jobs with wages that pay too little to meet even the most basic living costs. They experience multiple barriers […]
Policy Matters Ohio: Increase Family Security and Expand Opportunity in Ohio
November 14, 2022 • By ITEP Staff
The expanded federal child tax credit (CTC) improved the lives of millions of children and families. We outline how a simple solution — direct payments to families with children — helped families pay for basic household expenses, relieved parents of stress, and made families more stable and secure. But now, because Congress failed to act, […]
Policy for the People Podcast: Our Labor, Their Fortunes: Billionaires Capture Oregon’s Wealth
November 11, 2022
Wealth inequality is at mind-boggling levels in Oregon and elsewhere. Listen to Research Director Carl Davis talk about the trends here.
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