Select Media Mentions
Forbes: Here’s Everything You Need To Know About The New Expanded Child Tax Credit
March 10, 2021
83 million. That’s how many children live in households that will benefit from the expanded credit, according to the Institute on Taxation and Economic Policy. The expansion would send about $116 billion to families with children in 2021, the ITEP estimates. Read more
CNBC: Stimulus Checks and Expanded Tax Credits
March 10, 2021
Between stimulus checks and expanded tax credits in the latest Covid-relief package, most U.S. households are poised to get some extra cash. The amount? An average of $3,450 for the bottom 60% of earners ($65,000 or less), according to research from the Institute on Taxation and Economic Policy. The number reflects direct stimulus payments and […]
Vox: Third stimulus bill: The American Rescue Plan moves through Congress
March 9, 2021
Some 280 million people will be eligible for the third round of stimulus checks, according to the Institute on Taxation and Economic Policy, and unlike previous direct payments, all dependents — including college students and some people with disabilities, not just children under 17 — will be eligible. Read more
NPR: Tax Credit Could Lower Child Poverty More in 2021 Than Any Year in History
March 9, 2021
The Institute on Taxation and Economic Policy has just estimated that the bottom 60% of Americans by income would receive an increase in their incomes of 11% on average, and then the bottom 20% would receive an increase of 33% on average. So we are living through one of the largest boosts to family incomes, […]
San Francisco Chronicle: California Schools, Governments and Residents to Get Billions in COVID Stimulus
March 9, 2021
The bill includes another round of direct stimulus payments to Americans. The nonpartisan Institute on Taxation and Economic Policy estimates that 22 million adults and 9 million children in California will benefit from the $1,400 checks. The bill also expands the child tax credit from $2,000 per year to $3,000 for children over the age […]
Mississippi Today: Study: House Tax Proposal Increases Burden on Poor Mississippians
March 9, 2021
The bottom 60% of Mississippi’s income earners would be paying more taxes under legislation that has passed the House while the top 40% would be paying less, according to an analysis conducted by a Washington, D.C.-based policy think tank. A person in the top 1% with average income of $924,000 would pay $28,610 less in […]
CNET: Child Tax Credit 2021 Approval Could Bring More Money Than Stimulus Checks. What to Know
March 9, 2021
For the bottom 20% of families in terms of income, the proposed expansion of the CTC would increase income by an average of 9.7% — even higher if you consider only tax filers with children, according to the Institute on Taxation and Economic Policy. The proposal would also lift 4.1 million children above the poverty line, […]
Washington Post: Biden stimulus showers money on Americans, sharply cutting poverty and favoring individuals over businesses
March 8, 2021
These tax changes, along with another round of cash payments, will boost incomes of the bottom 20 percent of Americans by 33 percent, according to Steve Wamhoff, a tax expert at the liberal Institute on Taxation and Economic Policy. That’s more than double what the March 2020 Cares Act did for the poorest Americans. Read […]
Newsweek: How Your Stimulus Check, Income Might Be Affected by the Latest Bill Changes
March 8, 2021
According to Institute on Taxation and Economic Policy, the changes would benefit around 83 million children and significantly reduce child poverty in the U.S. Read more
Yahoo! Finance: The new stimulus checks: What’s still ahead, before you can get your money?
March 8, 2021
Some 17 million fewer Americans will get stimulus checks this time because of the new income thresholds, according to an estimate from the Institute on Taxation and Economic Policy. Read more
Fox Business: Third stimulus check calculator: See how much money you could receive from Biden’s relief bill
March 8, 2021
As with previous rounds, Americans who earn more than the threshold line will still receive a partial check. But the money will phase out faster than previous rounds, cutting off payments for roughly 16 million Americans who qualified for previous relief payments, according to a preliminary analysis published by the left-leaning Institute on Taxation and Economic […]
Forbes: Americans Should Receive $1,400 Stimulus Checks Starting End Of March, Says Biden
March 8, 2021
Over 85 percent of American households would get stimulus payments of $1,400 per person, according to the White House. Preliminary estimates from the Institute on Taxation and Economic Policy (ITEP), a left-leaning think tank show that 200 million adults and 80 million children would receive payments under the new stimulus provision passed by the Senate. Read […]
Observer: $1,400 Stimulus Checks: When to Expect Payment & Calculate How Much You’ll Get
March 8, 2021
About 17 million fewer people will receive direct payments as a result of the rule change, according to the Institute on Taxation and Economic Policy. Read more
CNET: Child tax credit 2021: When will families get more money? Here’s what you should know
March 8, 2021
The bill also would expand other child-related credits so families could claim up to half their child-care expenses on their taxes. For the bottom 20% of families in terms of income, the proposed expansion of the CTC would increase income by an average of 9.7% — even higher if you consider only tax filers with children, according […]
Fiscal Times: Biden’s Stimulus: What You Need to Know Now
March 8, 2021
What you need to know about the $1,400 “stimulus checks”: Individuals earning less than $75,000 and couple making less than $150,000 are eligible for the full $1,400 relief payments, plus an additional $1,400 per dependent. The payments phase out completely for individuals who earn more than $80,000 a year and married couples earning more than […]
Time: The Senate Passed a $1.9 Trillion COVID-19 Relief Bill. Here’s What’s In It
March 7, 2021
The decision means that an estimated 17 million Americans who received a check under former President Donald Trump won’t get one under Biden, according to a study from the nonpartisan Institute on Taxation and Economic Policy. Biden said on Saturday that the government will begin sending the checks to eligible Americans this month. Read more
Huffington Post: Senate Passes $1.9 Trillion COVID-19 Relief Bill
March 6, 2021
The full $1,400 checks will only go to those making $75,000 or less (or $150,000 for joint filers) and be cut off for individuals who make more than $80,000 (or $160,000 for joint filers), cutting out 12 million adults and 5 million children, according to early estimates from the liberal-leaning think tank Institute on Taxation […]
CBS News.com: Democrats limit eligibility for stimulus checks in Senate COVID bill
March 5, 2021
The proposal to lower caps on the stimulus checks would cut an estimated 17 million people from eligibility, according to the Institute on Taxation and Economic Policy. Their analysis found 297 million adults and children would benefit under the bill passed in the House, but only 280 million people would in the Senate version of the […]
Vanity Fair: Millions of people who received stimulus checks last time around won’t get them again
March 5, 2021
Under the narrower eligibility rules, individuals earning under $75,000 (and couples earning under $150,000) are set to receive the full check, but those making $80,000 and up (and $160,000 or more as a couple) will no longer qualify. According to an analysis from the Institute of Taxation and Economic Policy, approximately 16 million fewer Americans […]
Market Place: Who qualifies for the $1,400 checks under the Democrats’ new proposal?
March 5, 2021
The left-leaning Institute on Taxation and Economic Policy has analyzed how many people would get help under the Senate caps, and found that 86% of adults and 85% of children would. On the other hand, the House bill would help 91% of adults and 90% of children. In total, 11.8 million fewer adults and 4.6 […]
Marketwatch: ‘This is pure politics’: Fewer Americans will get a stimulus check this time around — here’s how many people will get one
March 5, 2021
The previous House version would have covered 91% of adults — 212.1 million Americans — and 90% of children — another 84.7 million people, said Steve Wamhoff, director of federal tax policy at the left-learning Institute on Taxation and Economic Policy. “It’s a difference, but it’s not an enormous difference,” he said. “When you look […]
LA Times: Senate Democrats’ COVID bill ends weekly $400 unemployment in August, not September
March 5, 2021
The Institute on Taxation and Economic Policy, a progressive research group, estimates 2.37 million fewer Californians would receive money under the Senate bill than with the House bill. Nationally, an estimated 16.4 million fewer Americans will get a check. Read more
Motley Fool: Stimulus Check Changes Leave 12 Million U.S. Adults Out of Upcoming Round
March 5, 2021
ll told, this means 11.8 million adults may no longer be eligible for a stimulus payment, according to the Institute on Taxation and Economic Policy. On top of that, 4.6 million children could be left without a stimulus payment as well. Still, Americans in the bottom 60% of U.S. wage earners won’t be impacted by […]
The Moguldum Nation: Biden Folds On Stimulus, Backs Lower $70K Income Ceiling To Get $1400
March 5, 2021
Around 12 million fewer adults and 5 million fewer children would get the stimulus payments under the new Biden-Senate compromise, according to estimates from the Institute on Taxation and Economic Policy think tank. About 200 million adults and 80 million children will still be eligible for relief under the new structure. Read more
Bloomberg Tax: Mega-Rich and Plans to Tax Them Abound in Washington State
March 4, 2021
According to a Dec. 31 report from the bipartisan Tax Structure Work Group, the state’s system creates average tax burdens at 8.2% of total income for households with income between $17,000 and $30,000 a year, but the burden drops as incomes rise and is only 1.8% for households making more than $208,000. The Institute for […]
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