Days after mingling with wealthy donors in Beverly Hills and the Bay Area, former President Trump said that if he is reelected, he would reinstate a tax break that benefits residents of high-tax states such as California.
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 September 19, 2024 Los Angeles Times: Trump Says He Would Uncap the State and Local Tax Deduction
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media mention September 19, 2024 ITEP’s Kamolika Das Responds to Misleading Baltimore Sun Op-ed
ITEP Local Policy Director Kamolika Das had this letter to the editor published in the Baltimore Sun on September 18: David F. Tufaro’s recent commentary about the Renew Baltimore campaign… -
media mention September 9, 2024 Herald-Mail Media: Maryland Taxpayers Can Use IRS Direct File Next Year: What to Know About Free System
Maryland officials backed a federal effort this week to make the process of filing your taxes “easier, simpler, and more affordable,” according to the governor, but forthcoming program eligibility details will reveal who may benefit.
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media mention September 3, 2024 The Nevadan: Trump’s Promise of Mass Deportations Could Devastate Nevada’s Economy. Here’s How.
A recent study conducted by the Institute on Taxation and Economic Policy (ITEP) found that undocumented immigrants contributed at least $96.7 billion in federal, state, and local taxes in 2022 — a number that would increase if they were granted formal work authorization. In Nevada, undocumented immigrants accounted for $507 million in 2022 tax revenue, the study found.
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media mention August 30, 2024 Financial Times: Silicon Valley’s Elite Rattled by Prospect of Tax on Unrealized Gains
A novel proposal to tax the unrealised gains of wealthy Americans has incited fury from Silicon Valley’s richest investors. US vice-president Kamala Harris, the Democratic nominee for the 2024 presidential election, rolled out a tax plan last week aimed at raising nearly $5tn over a decade. It included support for the controversial tax proposal, which was also part of President Joe Biden’s federal budget plan for 2025.
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media mention August 30, 2024 AFP Fact Check: Posts Misrepresent Harris Tax Plan on Unrealized Capital Gains
Social media posts claim Kamala Harris’ economic plan, were she elected president, would force Americans to pay tax on the rise in value of assets such as homes and stock investments, even if they are not sold. This is mostly false; the proposal in the current Biden administration’s budget calls for a tax on “unrealized gains” on certain assets — but only for households with a net worth of at least $100 million, or an estimated 0.01 percent of taxpayers.
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media mention August 28, 2024 The Independent: What We Know About Kamala Harris’s Tax Plans
Kamala Harris has pledged that strengthening America’s middle class will be a “defining goal” of her presidency, if elected. In her keynote address at the Democratic National Convention, Harris envisioned what she called an “opportunity economy” anchored by a “middle class tax cut that will benefit more than 100 million Americans,” standing in stark contrast to Donald Trump’s sweeping tax cuts that largely benefit America’s wealthiest households.
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media mention August 26, 2024 MarketWatch: Kamala Harris Backs Biden’s Tax Proposals — Including a Tax on Unrealized Capital Gains
n the first few days of Kamala Harris’s 2024 presidential campaign, experts told MarketWatch that her stances on taxes probably would closely resemble those of President Joe Biden.
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media mention August 26, 2024 The Lever: Will Harris Finally Kill Wall Street’s Infamous Tax Break?
s part of their new 2024 party platform, Democrats have promised to close a notorious tax loophole that has long allowed Wall Street billionaires to pay a far lower tax rate than most Americans. Likewise, Vice President Kamala Harris has reportedly signaled she supports ending this tax break, which could net billions in government revenue.
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media mention August 15, 2024 La Opinión: Los indocumentados que Trump quiere deportar aportan millones de dólares a la economía
En una entrevista con la cadena ABC el pasado domingo, el compañero de fórmula de Donald Trump en la mancuerna presidencial republicana, JD Vance, evadió responder cuál será el proceso para identificar y deportar a millones de indocumentados, la pieza central de su campaña, y se limitó a recitar las usuales frases que son código de movilización para su base: frontera “abierta”, muro, criminales.
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media mention August 13, 2024 NPR Planet Money: The Economic Mind of Tim Walz
In recent weeks, Minnesota Gov. Tim Walz burst from relative obscurity to co-headlining the Democratic presidential ticket. Walz’s career rocket launch was fueled by his cutting political rhetoric, folksy midwestern charm, jovial dad vibes, and progressive principles and accomplishments.
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media mention August 12, 2024 The Washington Examiner: The Coming Multifront Battle Over the Corporate Tax Rate
Next year is likely to see the biggest battle over the taxation of corporations in nearly a decade, a multifront engagement that will pit free marketers and big business against Democrats and populists. The corporate tax rate is set to be a point of negotiation in a historic “fiscal cliff” scheduled for next year, when the individual portions of the Trump tax cuts expire.
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media mention August 9, 2024 USA Today: Trump’s Lies About Undocumented Immigrants Hide the Truth: They Pay Their Share of Taxes
These payments fund essential public services and immigrants’ own paths to legal status. Misinformation about undocumented immigrants in America is harmful and leads to stereotypes and policies that not only hurt immigrants but Americans and businesses, too.
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media mention August 8, 2024 ABC News: What is Tim Walz’s Record on the Economy? Look at Minnesota.
Minnesota Gov. Tim Walz, the Democratic vice presidential nominee, has enacted economic policies in the state on key issues like job creation and taxes. The track record, stretching back to 2018, indicates how he may approach such issues if granted the nation’s second-highest office. His positions could also help shape perceptions of the Harris-Walz ticket on the economy, which ranks as one of the most important issues among voters. Here’s what to know about where Walz stands on key economic issues:
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media mention August 8, 2024 Bangor Daily News: Immigrants Add Value to the US
With so much focus on immigration, there is unfortunately much false information being shared about immigrants and their impact on the U.S. One common misperception is that immigrants are a drain on the economy. A recent national report adds new information to debunk such arguments. According to the Institute on Taxation and Economic Policy, undocumented immigrants paid nearly $100 billion in federal, state and local taxes in 2022. More than half went to the federal government.
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media mention August 8, 2024 Mother Jones: How Trump’s “Mass Deportation” Plan Would Ruin America
This election cycle, former President Donald Trump has made one campaign promise the most prominent: Mass deportation. It is a long-standing vow. In 2016, Trump said he would deport the 11 million undocumented immigrants living in the United States. Once in the White House, he ordered sweeping worksite raids, enacted a ban on travelers from Muslim-majority countries, and deliberately separated migrant families, many of whom have yet to be reunited.
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media mention August 7, 2024 New York Times: A Walzonomics Primer
It’s been nearly 24 hours since Kamala Harris announced Gov. Tim Walz of Minnesota as her running mate, catapulting him into the national spotlight. Unlike other candidates for the position, including Gov. Josh Shapiro of Pennsylvania and Senator Mark Kelly of Arizona, the Midwestern politician hasn’t been closely scrutinized — until now. Here’s where he stands on some key business issues.
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media mention August 7, 2024 Fox Business: Kamala Harris’ VP Pick: What to Know About Tim Walz’s Economic Track Record
Minnesota Gov. Tim Walz’s economic track record is under the microscope after Vice President Harris’ decision Tuesday to select Walz as her running mate on the Democratic Party’s 2024 ticket.
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media mention August 6, 2024 Audio: ITEP’s Marco Guzman on Taxes Paid by Texas Undocumented Immigrants
Marco appeared on Texas Public Media’s The Source on August 4, 2024. Listen to the clip here. -
media mention August 6, 2024 Yahoo Finance: The Economic Risk of Trump’s Deportation Plan
The surge of migrants entering the United States during part of Joe Biden’s presidency has played to Donald Trump’s signature issue. Trump launched his first campaign for president in 2015 with an anti-immigrant rant, and the issue has worked for him ever since. So Trump, in his third campaign for president, has raised his bid on the issue, promising the “mass deportation” of up to 20 million people if he wins a second term.
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media mention August 5, 2024 ProPublica: How a Washington Tax Break for Data Centers Snowballed Into One of the State’s Biggest Corporate Giveaways
In 2010, as the country still reeled from the worst economic crisis since the Great Depression, tech companies, real estate developers and rural lobbyists went to the state Capitol in Olympia, Washington, to press for a tax break for data centers.
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media mention August 5, 2024 Boston Globe: The Hidden Tax Power of Undocumented Immigrants
A common argument among anti-immigrant politicians and advocates is that noncitizens who are in the United States illegally exploit government benefits and constitute a financial burden on the country. That claim is largely inaccurate and misleading. The latest evidence was provided this week by policy analysts and researchers at the Institute on Taxation and Economic Policy. They found that undocumented immigrants in the United States paid $96.7 billion in federal, state, and local taxes in 2022, averaging $8,889 per person.
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media mention August 1, 2024 USA Today: Report: Targeted for Deportation by Trump, Undocumented Immigrants Pay Billions in Taxes
Florida is among a half-dozen states which each collect more than $1 billion in taxes from undocumented immigrants – a flow of public money likely to disappear under Republican presidential candidate Donald Trump’s mass deportation plan, a new report shows.
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media mention August 1, 2024 Newsweek: Undocumented Immigrants’ Payments Into Social Security Detailed in Report
New analysis by the Institute on Taxation and Economic Policy (ITEP) found that undocumented residents paid £25.7 billion into Social Security funds and $6 billion into Medicare in 2022; both programs that they are not entitled to use. In total, undocumented immigrants paid $96.7 billion, or roughly $9,000 per person, in taxes in 2022.
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media mention August 1, 2024 Audio: ITEP’s Marco Guzman Talks About the Tax Payments of Connecticut’s Undocumented Immigrants
CT’s undocumented immigrants pay over $400 million in taxes annually, study finds. Read more or listen here.