Select Media Mentions
ITEP’s unique resources and capabilities enable it to give media outlets detailed information on how current and proposed state and federal tax policies affect the public.
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media mention March 31, 2022 The Nation: Biden’s Billionaire Tax Is Smart Politics for the Midterms
Right now, über-billionaire Elon Musk enjoys a tax rate of 3.27 percent, while Amazon’s Jeff Bezos pays 0.98 percent, according to a 2021 ProPublicareport. Getting them to pay 20 percent… -
media mention March 31, 2022 Bloomberg: Did You Pay Your ‘Fair Share’ of Federal Income Tax This Year?
And according to the Institute on Taxation and Economic Policy, the impact would have a definite geographic tilt. The states where more than 40% of residents would face tax increases… -
media mention March 30, 2022 WVTF Radio: A gas tax holiday may not lead to savings for Virginia drivers
About a third of the savings will go to the oil industry, according to research into how this worked when Indiana and Illinois had a gas tax holiday. But that… -
media mention March 29, 2022 Associated Press: How Would a Billionaire Tax Work?
Steve Wamhoff, director of tax policy at the Institute on Taxation and Economic Policy, says the Democrats “have got this reconciliation vehicle that they can use that to pass legislation.”… -
media mention March 29, 2022 MarketWatch: Can Biden turn his ‘billionaire minimum income tax’ into law?
The minimum tax payments would count as a “prepayment,” credited against future capital-gains taxes, the Treasury Department said. That way, when the asset was finally sold off, it would not… -
media mention March 29, 2022 Fortune: President Biden says his ‘Billionaire Minimum Income Tax’ would raise $360 billion. How does it work?
The highest likelihood is through “reconciliation” — a budget process for passing fiscal legislation with a simple majority of Senate votes. That will require buy-in from West Virginia Sen. Joe… -
media mention March 28, 2022 New York Times: What Retirement Means for Your Taxes
Many states exempt retirement income, although the specifics vary widely. Eight states have no personal income tax, but among those that do, about three-quarters fully exempt Social Security benefits from… -
media mention March 15, 2022 CBS News: These states may soon slash their residents’ income taxes
Georgia’s House recently approved a bill that would create a flat state income tax with a 5.25% rate, raise the amount of income exempt from taxation and eliminate many deductions.… -
media mention March 15, 2022 CNBC: Eligible Taxpayers Can Claim Earned Income Tax Credit in These States
President Joe Biden called for making these changes permanent in the American Families Plan, which could provide $12.4 billion to families in 2022, affecting 19.5 million workers, according to research… -
media mention March 14, 2022 Washington Post: Congress urges DOJ, Treasury to examine drug companies aiming to turn opioid settlements into tax breaks
There is uncertainty in the law about these types of tax breaks, said Matthew Gardner, a senior fellow at the nonprofit Institute on Taxation and Economic Policy. Though recent changes… -
media mention March 14, 2022 MSNBC: Putting a price tag on Rick Scott’s proposed GOP tax hike
About a week later, the Institute on Taxation and Economic Policy produced a related report that found, under the GOP senator’s vision, most of the tax increases “would be paid… -
media mention March 12, 2022 Washington Post: Yes, voters ‘deserve to know’ this GOP plan would raise taxes by $1 trillion
The bean counters at the Urban-Brookings Tax Policy Center and the Institute on Taxation and Economic Policy ran the numbers on what ITEP called the “only possible interpretation of Sen.… -
media mention March 11, 2022 McClatchy: Would a gas tax break help drivers save that much money? Here’s what experts say
According to the American Petroleum Institute, the federal tax on gas is about 18 cents per gallon. National gas prices average about $4 per gallon as of March 11, according… -
media mention March 11, 2022 Bridge Michigan: Michigan GOP tax cut plan helps wealthy at expense of equity
Following is an excerpt from an opEd co-authored by ITEP policy analyst Neva Butkus in Bridge Michigan: At the beginning of 2022, the national Institute on Taxation and Economic Policy… -
media mention March 9, 2022 Truthout: GOP’s Tax Plan Would Raise Taxes by Over $1,000 Annually for Poorest Americans
In a report released on Monday, the Institute on Taxation and Economic Policy (ITEP) estimated that the poorest Americans would be the most affected by Scott’s plan — meaning that… -
media mention March 9, 2022 Pennsylvania Capital Star: GOP plan would be a tax hike for 35% of Pa. residents
The share of households facing tax hikes would vary across states, according to an analysis by the Institute on Taxation and Economic Policy, ranging from a low of about 24 percent… -
media mention March 9, 2022 Associated Press-Georgia: Tax cut sails through House; findings show big boost to rich
But an analysis by the liberal-leaning Georgia Budget & Policy Institute, using modeling by the Institute on Taxation and Economic Policy, shows that 62% of the benefits would go to… -
media mention March 2, 2022 CNN: Fact-checking Biden’s 2022 State of the Union address
Facts First: This needs context. Biden left out a significant word from the prepared text of his speech. The prepared text, which the White House emailed to journalists just before… -
media mention March 1, 2022 CBS News: Fact check: Joe Biden’s State of the Union address
President Biden: “Last year, 55 of the Fortune 500 companies earned $40 billion in profit and paid zero in federal taxes.” Fact check: True. This statistic comes from the Institute… -
media mention February 25, 2022 Politifact: States’ Pursuit of Top-Heavy Tax Cuts Is Disconnected from Reality
Steve Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy, said that group includes many retirees or people with disabilities who are collecting Social Security benefits,… -
media mention February 25, 2022 The Guardian: ‘A really bad deal’: Michigan awards GM $1bn in incentives for new electric cars
Meanwhile, GM has recorded $70bn in profits since 2010 while taking $8bn in subsidies in recent decades – more than all but one company nationwide. The idea that it needed incentives to… -
media mention February 18, 2022 Yahoo! Finance: Young workers may see $800 more in their tax refunds this year
Many young workers may get an extra $820 in their tax refund this year because of the expansion of a key poverty-fighting credit, a new analysis found. The expanded Earned… -
media mention February 17, 2022 American Prospect: The Year of the Tax Cut
State lawmakers are also pointing to substantial, but temporary, budget surpluses to justify tax cuts, but these surpluses are “deceptive and fleeting,” says Neva Butkus of the Institute on Taxation… -
media mention February 16, 2022 USA Today: New rules for 2021 taxes may mean bigger refund for young workers, retirees with side jobs
More than 1 in 3 young adults – or more than 5 million people – would benefit from this change in the earned income tax credit, seeing an average of benefit… -
media mention February 10, 2022 Democracy Now!: Alabama Amazon Workers Vote in 2nd Union Election as Amazon Dodges $5 Billion in Taxes
Meanwhile, a new report found Amazon was able to dodge over $5 billion in federal income taxes in 2021. Amazon reported record revenue of $35 billion last year but benefited…