Some critics of Delaware LLCs say until Delaware’s corporate code is adjusted, criminal activity will continue to exist in Delaware’s corporations. Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, authored a report entitled “Delaware: An Onshore Tax Haven.”
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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 October 12, 2018 WBOC16: Incorporating in Delaware: The Perks and Pitfalls
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media mention October 12, 2018 The Guardian: I’m Undocumented. It’s Time to Reveal What That Actually Means
Nationwide, the amount of taxes that the Internal Revenue Service collects from undocumented workers ranges from almost $2.2m in Montana, which has an estimated undocumented population of 4,000, to more than $3.1bn in California, which is home to more than 3 million undocumented immigrants. According to the non-partisan Institute on Taxation and Economic Policy, undocumented immigrants nationwide pay an estimated 8% of their incomes in state and local taxes on average. To put that in perspective, the top 1% of taxpayers pay an average nationwide effective tax rate of just 5.4%.
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media mention October 11, 2018 TalkPoverty: North Carolina Legislators Want to Add Tax Breaks for the Rich to the State Constitution
“Since 2012, when Republicans took full control of the legislature and governorship for the first time in modern history, they’ve been on a tax cutting rampage,” said Meg Wiehe, a North Carolina native and deputy director of the Institute on Taxation and Economic Policy. “The state will be about $3.6 billion shorter in revenue than it would have been otherwise, which is a pretty significant difference in a state with a general fund of just around $21 billion.”
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media mention October 11, 2018 Law360: TCJA Increases Racial, Economic Tax Divides, Report Says
The recent federal tax overhaul disproportionately benefits white households over households of color, increasing the wealth gap not just along income lines but along racial lines as well, according to a…
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media mention October 11, 2018 New York Times: White Americans Gain the Most From Trump’s Tax Cuts, a Report Finds
The tax cuts that President Trump signed into law last year are disproportionately helping white Americans over African-Americans and Latinos, a disparity that reflects longstanding racial economic inequality in the United States and the choices that Republicans made in crafting the law.
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media mention October 5, 2018 NPR: It’s Been 25 Years Since The Federal Gas Tax Went Up
Yet over those 25 years, the cost of building and maintaining roads, bridges and transit has shot up, leaving the highway trust fund, which pays the federal portion of highway and transit projects, running on empty.
“The whole reason this tax exists is to keep our roads paved and to keep our bridges from falling down,” says Davis. “And to do that effectively, it needs to collect a sustainable amount of revenue over time to cover the cost of paving roads and maintaining bridges, and it can’t do that if it’s just not updated for decades at a time.”
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media mention October 4, 2018 Washington Post: How big developers like Trump benefit from web of tax breaks
[Real estate investors] can fall behind on their debts and still face fewer tax penalties for having the debt forgiven than other kinds of investors, according to Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy. Trump took advantage of that, Wamhoff says, when he couldn’t repay debts on his Atlantic City casinos in the 1990s and early 2000s.
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media mention October 3, 2018 Fiscal Times: What Trump’s Family Finances Tell Us About the Tax System
“The key takeaway,” said Alan Essig, director of the liberal Institute on Taxation and Economic Policy, “is that the wealthy and powerful abide by a different set of rules than… -
media mention October 3, 2018 The New Yorker: The Trump Family’s Tax Dodging Is Symptomatic of a Larger Problem
This experience points to an enduring scandal that goes well beyond the Trumps. “The key takeaway from the New York Times article . . . is that the wealthy and powerful abide by… -
media mention October 2, 2018 The Post and Courier: Some Valuable Downtown Charleston Land Now Comes with Tax Breaks
“Even if the tax breaks drive some new investment into low-income areas, this does not guarantee that these investments will ultimately benefit low-income families within the opportunity zones,” said the… -
media mention October 1, 2018 Politico: Morning Tax
Today also marks 25 years since the last federal gas tax increase, which was raised to its current 18.3 cents per gallon in 1993. Plenty of people have talked about… -
media mention September 26, 2018 NJ.com: Murphy Pushes Plan to Save Property Tax Breaks
Only residents of New York, Connecticut, and California deduct more from federal taxes than New Jerseyans, according the progressive Institute on Taxation and Economic Policy. Most of the states hit… -
media mention September 25, 2018 Law360: Permanent Tax Cuts Favor Richest in All But Three States
The second round of tax cuts passed Thursday and Friday by the U.S. House of Representatives would overwhelmingly favor the richest Americans, except for those in three high-tax states, according… -
media mention September 21, 2018 Bloomberg BNA: Understanding the Post-Tax Cuts Buybacks Surge: A Primer
But Matt Gardner, a senior fellow at the liberal-leaning Institute on Taxation and Economic Policy, said the anger over buybacks stems from the idea that, with the passage of the… -
media mention September 21, 2018 Chicago Magazine: Illinois Is a Few Elections Away From a Graduated Income Tax
Illinois has one of the most regressive tax systems in the nation — and politicians are taking notice. Under our system, the burden of taxation falls disproportionately on those least able to pay… -
media mention September 14, 2018 The Inquisitor: Amazon Proposal to Cage Warehouse Workers Criticized
“For states contemplating tax incentives for Amazon, the salient question is: what do you give a tax avoider who already has everything?,” Matthew Gardner, senior fellow at Institute on Taxation… -
media mention September 12, 2018 Politico Morning Tax: Let’s Talk SALT
Cuomo is far from the only Democratic governor or lawmaker to unload on the SALT cap as, essentially, a broadside against progressive states. But at least one liberal think tank… -
media mention September 11, 2018 The Washington Post: GOP Pushes for New $2 Trillion Round of Tax Cuts
Democrats said the GOP’s second round of tax cuts would punish the poor and the middle class, arguing that they will provide a pretext for later spending cuts to entitlement… -
media mention September 11, 2018 Education Week: How a Proposed Tax Rule Could Hurt School Vouchers
Under the Tax Cuts and Jobs Act passed in 2017, wealthy residents in states such as New York and California face sizable increases in their federal tax bills because of… -
media mention September 11, 2018 Seattle Times: Is a State Like Washington with No Income Tax Better or Worse?
These taxes place an unfair burden on the poor, according to research from the Institute on Taxation and Economic Policy. The reason is the lowest earners in the state devote… -
media mention September 11, 2018 The Journal News: Gov. Andrew Cuomo’s Anti-Trump Tax Plan Crumbling in Face of IRS Regulations
Similar programs give state tax credits on 100 percent of the donations in states such as Alabama, Georgia, Arizona and South Carolina. It’s a system that has proved profitable for… -
media mention September 6, 2018 Politico: A SALT Shake up
So what happens now after this new clarification? “Under the right circumstances, some business owners are going to keep getting more back in tax cuts than they ever contributed to… -
media mention September 4, 2018 WRAL: Capping North Carolina’s Top Tax Rate Isn’t Good for Our Communities
Following is an excerpt from an op-ed written by ITEP deputy director Meg Wiehe: Earlier this year, teachers across the country staged walkouts or full-on strikes to protest low wages… -
media mention September 3, 2018 Philadelphia Inquirer: Why It’s an Unhappy Labor Day for Some Workers
Meanwhile, President Trump’s $1.5 trillion tax cut — like previous massive tax cuts — has failed to trickle down to average workers in a meaningful way, and many of his… -
media mention August 25, 2018 Atlanta Journal Constitution: IRS Proposal Could Hurt Georgia Rural Hospital, School Tax Credits
The change will have no impact on many Georgians because they don’t itemize their deductions when they file their tax returns. “For about 90 percent of people who are just… -
media mention August 24, 2018 The Montgomery Advertiser: IRS Proposes Regulations that Could Impact Alabama Accountability Act Donors
Carl Davis of the Institute on Taxation and Economic Policy, a non-profit, non-partisan research organization, said the regulations “make a lot of sense as far as what is charity and… -
media mention August 24, 2018 CNBC: Cutting SALT–It Could Be the Last Day for This Tax Saving Strategy
There are 18 states with private school voucher tax credits, including programs in Arizona, Alabama and South Carolina. A number of them offer credits to contributing taxpayers on a dollar-for-dollar… -
media mention August 24, 2018 Bloomberg: New Yorkers Have Four Days to Try to Beat SALT Cap
Residents of states that have had charitable tax break programs in effect for some time, such as Georgia and South Carolina, that benefit hospitals or schools, will probably have an… -
media mention August 24, 2018 Washington Post: New Treasury Proposal Would Stop Attempts to Weaken Tax Law
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media mention August 24, 2018 The Hill: IRS Was Correct to Include Private School Credits in New Tax Regulations
Following is an excerpt of an op-ed by Carl Davis, ITEP researcher director, regarding the new regulations issued by the Treasury Department: Last year’s federal tax overhaul has cast a… -
media mention August 23, 2018 Reuters: U.S. Treasury, IRS move to block states dodging tax deduction cap
Under the proposed rule, however, a New York taxpayer could not receive a federal charitable deduction for the portion of their donation to the fund for which they received a… -
media mention August 23, 2018 New Jersey Online: Trump Administration Rejects Efforts to Save Your Property Tax Break
And in New Jersey, more than four in 10 taxpayers claimed that tax break and deducted an average deduction of $17,850 in 2015, according to the Pew Charitable Trusts. Only residents… -
media mention August 23, 2018 The Oregonian: Trump Administration Moves to Stop Oregon, Other States from Circumventing New Tax Law
Treasury said it expects that only about 1 percent of all U.S. taxpayers would see a reduction of their tax credits for donations to a private-school voucher fund. Several states… -
media mention August 23, 2018 Politico Morning Tax: Still More SALT Intake
Carl Davis of the liberal Institute on Taxation and Economic Policy also pointed out that Sens. Tim Scott (R-S.C.) and Pat Toomey (R-Pa.) — who have had staff meet with… -
media mention August 23, 2018 New Hampshire Business: Winners and Losers Under the New Tax Plan
The new law also doubles the standard deduction, making it likely that fewer business owners will itemize on their returns, and that could have a negative impact on things like… -
media mention August 23, 2018 The Hill: Treasury Issues Rules Taking Aim at Blue-State Workarounds to GOP Tax Law
Carl Davis, director of research at the left-leaning Institute on Taxation and Economic Policy, praised Treasury for taking the same approach to the SALT cap workarounds implemented by blue states… -
media mention August 22, 2018 CNBC: Upcoming IRS Rules Could Chill These Red-State Tax Credit Programs
How the IRS will ultimately proceed remains to be seen, yet experts agree that the agency may take a closer look at programs with generous tax credits. “It’s when you… -
media mention August 22, 2018 Chicago Tribune: Better Answers, Please
The Institute on Taxation and Economic Policy in Washington, D.C., attempted to calculate all the net effects and concluded that only the top 5 percent of earners would benefit from… -
media mention August 22, 2018 KPFA: US Treasury Sec Mnuchin Is Planning a $100 Billion Tax Cut for the Wealthy
This would very likely be the largest regulatory tax cut in history. While there’s an important place for Treasury regulations in clarifying Congressional intent, that’s not what this is… It’s… -
media mention August 16, 2018 Sacramento News&Review: U-Turn on Taxes
In 2015, a report from the Institute on Taxation and Economic Policy found that heavy reliance on sales taxes is a characteristic of the most regressive tax systems. The half-cent… -
media mention August 15, 2018 Gannette: NJ Suit Over SALT Deduction Would Help the State’s Richest 1.5 Percent the Most
That reality has led some who joined Democrats in complaining about way tax cuts were distributed to criticize efforts to overturn the SALT cap. “The Trump tax law gives away the store to the… -
media mention August 9, 2018 CNBC: Tax Holidays May Not Be the Bargain You Think They Are
Everyone loves a bargain. Except when the bargain doesn’t really save you money. It may feel great not to pay tax for back-to-school clothes and backpacks, but the Institute on… -
media mention August 1, 2018 Kiplinger: Online Shopping Could Get Pricier
Generally, shoppers who buy from midsize online retailers will be the hardest hit, says Carl Davis, research director for the Institute on Taxation and Economic Policy. South Dakota’s rule requires… -
media mention August 1, 2018 The Courier Journal: Three More Reasons the Tax Cut Is Bad for Kentucky
Reason No. 2: HB487 raises very little “net” revenue. The nearly $900 million in new taxes will only net the state about $180 million per year because the rest is being… -
media mention August 1, 2018 The Columbus Dispatch: Ohio’s tax-free shopping weekend is Friday through Sunday
But the tax holiday isn’t necessarily as much of a plus for everyone as its proponents say, said Dylan Grundman of the Institute on Taxation and Economic Policy, a nonprofit,… -
media mention July 30, 2018 The Tennessean: Where Are The Tax Cuts Going?
So where has the money gone? Many companies won’t say or are scant on specifics. Several publicly traded companies in Tennessee have issued press releases announcing bonuses or minimum wage increases, but… -
media mention July 30, 2018 The Hill: Tax Breaks for Wealthy Paid for with Deep Cuts to Medicare, Medicaid and Social Security
They say that we don’t have a choice and can’t afford these earned benefits for Americans on a fixed or limited income without making drastic cuts. A recent report by… -
media mention July 23, 2018 Washington Post: IRS Outsources Debt Collection to Private Firms, and the Poor Feel the Sting
“The private firms appear, at least in some cases, to be ignoring this constraint,” said Matt Gardner, an analyst at the left-leaning Institute on Taxation and Economic Policy. “When they… -
media mention July 19, 2018 WAMU: Amazon Doesn’t Need the Money
But analyses by nonpartisan think tanks Brookings Institution and the Upjohn Institute for Employment Research — as well as the Institute on Taxation and Economic Policy, which studies the impact of tax policy on working people — suggest incentives can… -
media mention July 15, 2018 Vermont Business: Auditor Can’t Quantify Benefit of Economic Incentives
The Institute on Taxation and Economic Policy ranks Vermont’s tax system as one of the most progressive in the country because of the steeply graduated income tax, the State earned…