Select Media Mentions
Members of the media rely on ITEP for analysis and insight about how tax policies affect people. If you’re a reporter looking to talk to one of our experts, contact Jon Whiten at [email protected].
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media mention April 2, 2021 Associated Press: Even with Pretax Profits, Many Big Companies Pay Zero US Tax
Just as President Joe Biden is pushing to raise taxes on companies to help pay for his infrastructure plan, a report from a Washington policy group is highlighting how many… -
media mention April 2, 2021 Fast Company: Report: 55 of America’s Biggest Companies Paid Zero Taxes during the Pandemic
The stock market boomed last year, despite a pandemic that put 45 million people out of work. But dozens of the biggest, most profitable corporations in the United States still… -
media mention April 2, 2021 New York Times: No Federal Taxes for Dozens of Big, Profitable Companies
Just as the Biden administration is pushing to raise taxes on corporations, a new study finds that at least 55 of America’s largest paid no taxes last year on billions… -
media mention March 31, 2021 The New York Times: Biden Tax Plan Challenges G.O.P. Formula for Economic Growth
The Institute on Taxation and Economic Policy, which has long criticized American businesses for managing to avoid paying what they owe, conducted a study of Fortune 500 companies that were… -
media mention March 31, 2021 Foreign Policy: To Build Bridges, Biden Plans to Hike Taxes
A 2019 study by the Institute on Taxation and Economic Policy found that at least 60 of the largest publicly held U.S. corporations paid no federal income taxes in 2018.… -
media mention March 31, 2021 US News: Biden Wants Corporate America to Pick Up the Tab On His Infrastructure Plan
Moreover, a study by the Institute on Taxation and Economic Policy of the effects of the 2017 tax cuts found that 379 companies with combined profits of nearly $766 billion… -
media mention March 31, 2021 Washington Post: Power Up: Unions, liberal groups urge Biden to go even bigger on tax hikes for infrastructure plan
Some tax experts, however, estimate that the benefits of restoring the deduction would go to the richest Americans: “House Democrats included a provision suspending the cap for 2020 as part… -
media mention March 30, 2021 The Street: Cannabis Stocks Rise as New York Moves Closer to Legalization
New York would be the 16th state, plus the District of Columbia, to fully legalize marijuana after decades of imprisoning people who participated in the cannabis black market. About one… -
media mention March 29, 2021 Daily Wire: Zoom Profits in 2020: $660 Million. Zoom Tax Payment In 2021: $0
Zoom hauled in some $660 million in pre-tax profits in 2020, compared to $16 million in profits in 2019, according to the Institute on Taxation and Economic Policy. “Corporations that… -
media mention March 29, 2021 WTTW: Proposals Could Expand Eligibility for Earned Income Tax Credit
“[Illinois] just piggybacks off of that by saying if you got the federal credit you get 18% of that for state purposes,” said Lisa Christensen Gee, the director of special… -
media mention March 26, 2021 Washington Post: Fact-checking President Biden’s first news conference
Biden loves this statistic, but he usually is careful to say “federal taxes.” Simply saying “taxes” makes it wrong, because no matter what the federal tax liability, these companies certainly… -
media mention March 25, 2021 Jackson (Miss.) Clarion-Ledger: Eliminating state income tax would hurt Mississippi working families, widen inequities
This is because individual income taxes are the only major tax in which the state’s highest-income earners pay a larger percentage of their income in taxes than the state’s lower-income… -
media mention March 24, 2021 Indy Week: Anti-Poverty Advocates Rejoice Over New Child Tax Credit
It’s hard to overstate the significance of the expanded tax credit for low-income families. Information released by the Institute on Taxation and Economic Policy found that more than 2.6 million… -
media mention March 24, 2021 Connecticut Post: State Rep. Sean Scanlon (opinion): State child tax credit would ease burden on families
The good news for families is that President Biden’s recently passed stimulus bill features a provision long championed by my Congresswoman Rosa DeLauro that not only makes the tax credit… -
media mention March 24, 2021 CBS News: Zoom’s pandemic profits exceeded $670 million. Its federal tax payment? Zilch
“We are only taxing about half of all corporate profits,” observed Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, which put out a report on… -
media mention March 24, 2021 The Street: New York Inches Closer to Legalizing Recreational Cannabis
Last November, voters in New Jersey and Arizona voted to legalize marijuana. And in December, New Jersey placed a social equity excise tax on cannabis sales in order to address… -
media mention March 23, 2021 Arkansas Times: Can’t Forget the Millionaires: Income Tax Cut on Agenda Today
Arkansas Advocates for Children and Families has run the numbers by the Institute on Taxation and Economic Policy. It says 72 percent of the tax cut will go to people… -
media mention March 23, 2021 Salon: Zoom Increased Profit by 4,000% during the Pandemic — but the Company Paid $0 in Federal Income Tax
The U.S.-based online video chat platform Zoom has seen its profits skyrocket by 4000% during the Covid-19 pandemic thanks to the growing reliance on remote work and schooling, but an… -
media mention March 23, 2021 Business Insider: Zoom Paid $0 in Federal Taxes on $664 Million in Pandemic Profits, Mostly by Paying Executives Stock Options
“Companies that compensate their leadership with stock options can write off, for tax purposes, huge expenses that far exceed their actual cost,” Matthew Gardner, a senior fellow at the Institute… -
media mention March 23, 2021 New York Post: Zoom Paid No Federal Income Tax Last Year amid Pandemic Profit Surge
The Silicon Valley firm appears to have achieved that feat largely thanks to its use of stock-based compensation for employees, which helped reduce its worldwide tax bill by more than… -
media mention March 22, 2021 Common Dreams: Zoom Paid $0 in Federal Income Taxes on 4,000% Profit Increase During Pandemic: Report
The U.S.-based online video chat platform Zoom has seen its profits skyrocket by 4000% during the Covid-19 pandemic thanks to the growing reliance on remote work and schooling, but an… -
media mention March 21, 2021 The Independent: Zoom Increase Profits by 4000 Per Cent During Pandemic but Paid No Income Tax, Report Says
Zoom Video Communications reported that it made a $660m (£476m) pre-tax profit in 2020, up from $16m (£11.5m) in 2019, according to the non-profit Institute on Taxation and Economic Policy.… -
media mention March 21, 2021 Chicago Sun-Times: A New Push to Expand the State’s Earned Income Credit Could Include Immigrants
Economic Security for Illinois, working with the Institute in Taxation and Economic Policy, estimates that as many as 500,000 households would benefit from the expansion, including 110,000 immigrant households. Read… -
media mention March 18, 2021 The Hill: A Straightforward Way to Pay for Biden’s Recovery Plan (Opinion)
Now that President Biden and Congress have enacted a $1.9 trillion COVID-19 relief measure, the president will soon provide details for the second item on his agenda, a major recovery plan. The package could include some of the tax increases on which he campaigned to pay for new spending.
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media mention March 18, 2021 Marijuana Moment: Cannabis Banking Bill Comes Back to Congress
An Institute on Taxation and Economic Policy analysis concluded that “cannabis taxes are a small part of state and local budgets, clocking in at less than 2 percent of tax…