The vast majority of Senate Democrats joined their Republican colleagues in approving a new corporate tax break related to research in legislation that contains no offsetting corporate tax increases.
Federal Policy
ITEP’s federal policy resources provide quantitative and qualitative research and analysis on current tax policies, proposals and reform options. Its distributional analyses highlight how tax proposals will affect Americans in different income groups nationally and in all 50 states.
ITEP's Federal Policy Research Priorities
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blog May 6, 2022 Most Senate Democrats Join Republicans in Calling for Corporate Tax Break
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report April 26, 2022 Revenue-Raising Proposals in President Biden’s Fiscal Year 2023 Budget Plan
President Biden’s latest budget plan includes proposals that would raise $2.5 trillion in new revenue. While many of these reforms appeared in his previous budget, some of them are brand new, such as his proposal to prevent basis-shifting in partnerships and his Billionaires Minimum Income Tax.
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blog April 21, 2022 Biden’s Proposals Would Fix a Tax Code that Coddles Billionaires
Billionaires can afford to pay a larger share of their income in taxes than teachers, nurses and firefighters. But our tax code often allows them to pay less, as demonstrated… -
blog April 18, 2022 Public Problems Demand Public Solutions
Long-term troubles for this country and this planet now demand our attention. Progressive tax policy would transform our ability to tackle them.
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blog April 6, 2022 President Biden’s Proposed Billionaires’ Minimum Income Tax Would Ensure the Wealthiest Pay a Reasonable Amount of Income Tax
The Billionaires’ Minimum Income Tax included in President Biden’s budget plan would limit an unfair tax break for capital gains income and complement proposals the president has offered previously to limit other tax breaks for capital gains.
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blog April 6, 2022 Frequently Asked Questions and Concerns About the President Billionaires’ Minimum Income Tax
Find the answers to some frequently asked questions about President Biden’s Billionaires’ Minimum Income Tax, which would limit very wealthy individuals’ ability to put off paying income taxes on capital gains until they sell assets.
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blog March 25, 2022 New ITEP Report Explains How the Biden Administration Can Act on Its Own to Fix Our Tax Code
The Biden administration should revise regulations from the TCJA to enforce the law as it was written and passed by Congress, not as big banks and multinational corporations have lobbied for it to be enforced.
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blog March 25, 2022 Excess Profits Tax Proposals Meet the Moment, But Lawmakers Should Keep Their Eye on Fundamentally Fixing Our Corporate Tax
New corporate tax proposals address the current situation, but ultimately leaders in Washington must fix federal law to tax all corporate profits and stop the tax dodging that is rampant today.
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report March 25, 2022 What the Biden Administration Can Do on Its Own, Without Congress, to Fix the Tax Code
The Biden administration has several options to address tax reform even when Congress is unable or unwilling to help.
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blog March 24, 2022 Women’s History Month is a Reminder that Sensible Tax Policy is Central to Women’s Economic Security
Women’s History Month is a chance to remember what happens for women when tax policy becomes more progressive, boosts income, and helps make raising a family more affordable.
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blog March 16, 2022 State Gas Tax Holidays are Nothing to Celebrate
It’s unlikely that state gas tax holidays will meaningfully benefit consumers, and they come with risks for states’ infrastructure quality.
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blog March 11, 2022 What We Can Learn Today from the American Rescue Plan – and Sen. Rick Scott’s Proposed Tax Increases
The success of the American Rescue Plan Act is worth revisiting today. Instead of pursuing Sen. Rick Scott’s agenda of making life more difficult for those already working the hardest, Congress should extend or make permanent some of the beneficial policies in ARPA.
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report March 7, 2022 State-by-State Estimates of Sen. Rick Scott’s “Skin in the Game” Proposal
A proposal from Sen. Rick Scott would increase taxes for more than 35% of Americans, with the poorest fifth of Americans paying 34% of the tax increase.
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blog March 1, 2022 Taxes Should be Part of the State of the Union Agenda
President Biden should elevate his tax and revenue proposals which remain essential if we are to pay for environmental restoration, health priorities and peacekeeping, the front-burner items that may dominate the speech.
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blog February 22, 2022 Senate Republicans Revive the Myth of the Takers
Sen. Scott and others who favor shifting taxes away from the rich and down the income distribution often focus solely on the federal personal income tax and ignore all the other taxes that Americans pay.
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blog February 17, 2022 The Federal Gas Tax Holiday is Not a New Idea, Just a Bad One
The argument for suspending the gas tax, which would cost $20 billion, is weaker than ever.
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blog February 16, 2022 Imagine a Better Tax Code, Use Evidence to Make It Real
It’s become popular to urge people to imagine a better world. But on tax policy, the last year gives us ample evidence that lets us move far beyond imagining.
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report February 8, 2022 Federal EITC Enhancements Help More Than One in Three Young Workers
More than one in three young adults would benefit from workers without children being eligible to receive the federal EITC. This policy change would bolster young adults’ economic security.
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blog February 7, 2022 Amazon Avoids More Than $5 Billion in Corporate Income Taxes, Reports 6 Percent Tax Rate on $35 Billion of US Income
Amazon avoided about $5.2 billion of federal income tax on its record $36 billion in U.S. pretax income for fiscal year 2021.
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blog February 1, 2022 Netflix Posts a Record $5.3 Billion in Profits and a Federal Tax Rate of Just 1.1 percent
Netflix’s 2021 financial report shows it doubled its profits to $5.3 billion from the previous year and reported an effective federal corporate income tax rate of 1.1 percent.
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blog January 31, 2022 Build Back Better’s Tax Provisions Would Help Advance Racial Equity
Build Back Better can help ensure that all people are provided with the chance to lead healthy lives, have access to quality education, are treated fairly and justly, and thrive in today’s economy.
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blog January 25, 2022 Why Tax Reform Should Remain on the Table
In this country, wealthier than any other and wealthier than we’ve ever been, we can create a smarter, more equitable tax code that better taxes those most able to pay.
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report January 25, 2022 Revenue-Raising Proposals in the Evolving Build Back Better Debate
The United States needs to raise more tax revenue to fund investments in the American people. This revenue can be obtained with reforms that would require the richest and wealthiest Americans to pay their fair share to support the society that makes their fortunes possible.
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blog January 14, 2022 The Compelling Data and Moral Case for Continuing the Child Tax Credit Expansion
In just six short months, the enhanced Child Tax Credit (CTC), enacted as part of the American Rescue Plan (ARP), decreased the number of children living in poverty by 40 percent. ITEP estimated that the lowest-income 20 percent of households with children would receive a 35 percent income boost from this policy alone in 2021. This is a meaningful, life-changing sum.
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blog January 13, 2022 The Problem with Returning to a $2,000 Non-Refundable Child Tax Credit
Prior to last year, more than one in three children lived in households with incomes too low to receive the full $2,000 credit because it is not fully refundable. This means earnings requirements and other limits reduce the amount tax filers can receive as a refund. In fact, the maximum refundable portion is reduced to $1,400 (less than half of the maximum refundable credit available in 2021).