Citations
ITEP's Citations Research Priorities
Daily Mail: REVEALED: Amazon pays NOTHING in federal corporate taxes for the second year running despite doubling its profits to more than $11billion
February 14, 2019
In last year's filing Amazon similarly paid no corporate income taxes on its $5.6billion earnings. The Institute on Taxation and Economic Policy revealed the negative tax rate was the result of unspecified 'tax credits' and other benefits.
CBS News: After Amazon’s HQ2 Hunt, Some States Target Corporate Tax Breaks
February 13, 2019
While it’s common for corporations to seek tax breaks in exchange for moving to a particular location, Amazon’s solicitation was unusual in how public it was. Corporate location experts say tax considerations are rarely a deciding factor in where a company chooses to locate. And it’s not certain this type of interstate warfare creates genuinely […]
ORT: 2017 Tax Reform Helps Corporations The Most. Who Knew?
February 13, 2019
The Tax Reform bill of 2017 was supposed to close loopholes which had allowed corporations to avoid paying taxes, but a study by Matt Gardner, Senior Fellow at the Institute on Taxation and Economic Policy (ITEP), of Netflix has shown that it reduced corporate taxes without closing the loopholes. He talks to Jan Miyasaki about the issues and how the trend to shift tax burden to the poor continues.
MassBudget: Why Highest Incomes in Massachusetts Receive Most Tax Benefits from Charitable Deduction
February 11, 2019 • By ITEP Staff
Our Commonwealth does best when all people experience rising prosperity. But for several decades, the wealth and income of the top 1 percent of households has grown briskly while others have been left behind. While there are many reasons for this trend, one contributing factor is the way the federal tax deduction for charitable giving […]
Cheddar: Netflix’s Tax Hack
February 11, 2019
Following is link to a video featuring Matt Gardner, ITEP senior fellow, discussing Netflix’s zero-tax bill.
NJTV: Lawmakers Introduce Bipartisan Bill to Fully Restore SALT Deduction
February 11, 2019
But analysts with the nonpartisan Institute on Taxation and Economic Policy say it’s inaccurate to isolate the SALT deduction. In reality, the average taxpayer in New Jersey will pay less. On balance, New Jersey will pay $8.1 billion less in federal taxes due to the GOP reform. Their figures show 82 percent of taxpayers will […]
Forbes: Why Some of the Rich Want to Pay More in Taxes
February 11, 2019
Those with the very highest incomes have benefited disproportionately from tax cuts, and that lost revenue is driving the federal deficit ever higher. The Institute on Taxation and Economic Policy estimates that since 2001, “significant federal tax changes have reduced revenue by $5.1 trillion, with nearly two-thirds of that flowing to the richest fifth of […]
Morning Tax: The Latest in Wealth Taxes
February 11, 2019
The Institute on Taxation and Economic Policy noted recently that Netflix logged record profits in the U.S. in 2018, some $845 million, and ended up not owing any federal taxes. (Not only that: The video streamer got a $22 million rebate.) Over at The Guardian, Gene Marks uses an educated guess to predict that Netflix […]
KFDM (CBS Affiliate): Shrinking Tax Refunds Stir Controversy
February 11, 2019
With the benefits of the tax cut spread out across 52 weeks, the gain may have been hard to spot, especially if workers saw increases in health insurance premiums or other costs. According to the Institute on Taxation and Economic Policy, the middle 20 percent of income earners received an average of about $33 more […]
Newsweek: We Shouldn’t Wait for Washington to Tax the Rich: We Can Begin at the State Level
February 11, 2019
Following is an excerpt from an op-ed by ITEP deputy director Meg Wiehe published in Newsweek Magazine: The historic role tax and other policies have played in exacerbating the wealth divide and discussions about how to remedy this injustice is a national conversation that is long overdue. Examining the federal policy landscape is a logical […]
The Guardian: How Did Netflix Get Away with Not Paying Income Tax in 2018
February 9, 2019
According to a blogpost from the Institute on Taxation and Economic Policy, the company posted its largest ever profit in 2018 – $845m – but paid no federal (or state) income tax. “After a year of speculation and spin, the public is getting its first hard look at how corporate tax law changes under the […]
The Daily Mail: Netflix Paid NOTHING in Federal or State Taxes in 2018
February 7, 2019
Netflix didn’t pay a cent in state or federal income taxes last year, despite posting its largest-ever U.S. profit in 2018 of $845million, according to a new report. In addition, the streaming giant reported a $22 million federal tax rebate, according to the Institute on Taxation and Economic Policy (ITEP). Senior fellow at ITEP Matthew Gardner […]
Maine Center for Economic Policy: To Fund Shared Prosperity, We Must End LePage-Era Tax Cuts for the Wealthiest
February 6, 2019 • By ITEP Staff
For years under Gov. Paul LePage, budget-busting tax cuts robbed our state of the revenue we need to build a stronger, fairer economy. Tax cuts delivered windfalls to the wealthiest households in our state, making it harder for our schools and communities to make ends meet. Read more
Montana Public Radio: Lawmakers Hear Massive Proposal For Statewide Sales Tax
February 6, 2019
Another D.C. based think tank, the Institute on Taxation and Economic Policy, puts Montana’s current tax system among their top ten most equitable systems in the country, in part because there’s no statewide sales tax. However ITEP research also indicates the poorest 20 percent of families in Montana pay more of a share of their […]
Wrong Priorities: It Doesn’t Make Sense to Give a Tax Cut to the Rich While Arizona Asks Children in Public Schools to Wait
February 5, 2019 • By ITEP Staff
Arizona stands to gain $130 million to $230 million in General Fund revenues if it conforms the Arizona tax code to the federal tax changes enacted in 2017. Rather than directing those additional revenues to better prepare for the next economic downturn or toward increased investments in our public schools, SB1143 and HB2522 will direct the additional revenues toward a tax cut that will benefit the wealthiest Arizonans.
Montana Budget & Policy Center: House Bill 300: Sales Tax Proposal Makes Montana’s Taxes More Regressive and Reduces State Revenue
February 5, 2019 • By ITEP Staff
Replacing property taxes with a sales tax is both impractical and unfair for Montana families. HB 300 would make Montana’s tax system more regressive, increasing the taxes paid by families living on lower- and middle-incomes in the state while decreasing the taxes paid by the wealthy. Read more here
Arkansas Democrat Gazette: Arkansas Senate Panel Fives Fast Nod to Governor’s Tax-cut Plan
February 5, 2019
While the finance department projected the governor’s tax will eventually reduce tax revenue by $97 million a year after it’s fully implemented, Lisa Gee, a senior policy analyst for the Institute on Taxation and Economic Policy in Washington, D.C., said last week that she projected the governor’s income-tax cut would reduce state revenue by $157 […]
Bloomberg Tax: Economic Policy Group Proposes Slew of Progressive Tax Policies
February 5, 2019
The Institute on Taxation and Economic Policy in a new report detailed several potential progressive tax policy proposals—including a revamp of capital gains taxation that would pull in nearly $2.5 trillion. The group previously released an outline of a wealth tax proposal just one day before Sen. Elizabeth Warren (D-Mass.), a likely 2020 presidential contender, […]
Washington Post: Live Commentary on Trump’s SOTU
February 5, 2019
E.J. DIONNE JR., 9:27 p.m.: “A massive tax cut for working families.” Really? “If you look at the richest 1 percent, they’re getting more than the bottom 60 percent of Americans,” said Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy. Read more
City Lab: The Airbnb Effect: It’s Not Just Rising Home Prices
February 4, 2019
And cities with less stringent Airbnb regulations might also be losing out on a lot of tax revenue. Traditional lodging entities (when combining city, state, and county taxes), are taxed at an average rate of 13 percent in the 150 largest cities. But Airbnb is treated differently in different jurisdictions, and is trusted to self-report […]
Arkansas Advocates for Children and Families: Tax Cut Bill Filed: Plan Revised But Not Fixed
January 31, 2019 • By ITEP Staff
An analysis by the Institute on Taxation and Economic Policy (ITEP) shows that the benefits of this proposal are even more heavily skewed towards the richest taxpayers than the previous version. That’s because there are no changes to the standard deduction, and all the significant changes in marginal tax rates only affect taxpayers with more […]
Washington Post: Warren’s Push for a Wealth Tax Could Be a Game Changer
January 29, 2019
Many on the right are already lashing out at Warren’s proposal. (On Fox News, it was preposterously likened to Venezuelan socialism.) Others have argued that it would be unconstitutional, a dubious claim that relies on a controversial 1895 Supreme Court ruling that, as the Institute on Taxation and Economic Policy explains, “has been limited to […]
The Hill: Warren Stakes out Ground with Wealth Tax Proposal
January 28, 2019
Steve Wamhoff, director of tax policy at the Institute on Taxation and Economic Policy, said middle-income Americans are essentially already taxed on their wealth because most of it is in their homes, which come with property taxes. For the rich, however, homes tend to comprise a smaller percentage of their financial assets. Warren’s proposal would […]
Arizona Republic: Fact Check on Immigration
January 28, 2019
“It sounds extraordinarily high to me,” Meg Wiehe, deputy director at the nonpartisan Institute on Taxation and Economic Policy told NBC. Read more
Chicago Sun-Times: 47th Ward Candidate for Alderman
January 28, 2019
We need more progressive revenue sources to help address our pension obligations. Our state’s combination of a flat income tax, high sales taxes, and heavy local reliance on property taxes is the basis for the Institute on Taxation and Economic Policy ranking of Illinois as having the fifth most regressive tax system in the United […]
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