Select Media Mentions
WJTV: Experts discuss bill that would eliminate Mississippi’s state income tax
February 26, 2021
According to data from the Institute on Taxation and Economic Policy (ITEP), the proposal to increase the state’s sales tax rate to 9.5 percent would give Mississippians the highest sales tax in the country. Meg Wiehe, deputy executive director of ITEP, was among those who analyzed the data. “By increasing the rate to 9.5 percent […]
CNET: New child tax credit could bring more money than the stimulus check. What to know
February 26, 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 only consider 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 […]
Politifact: Facebook post misleads about tax bill breakdown
February 24, 2021
Experts say analyzing this claim isn’t easy because the post lacks necessary details. Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, said the post is missing critical information needed to make an accurate comparison — including whether federal and state taxes are being considered. Beyond that, he pointed out the post […]
Market Watch: Billionaire philanthropy is a ‘PR scam,’ says CEO who raised his workers’ minimum pay to $70,000
February 23, 2021
Billionaires pay the lowest tax rate of any income group nationally, Price added. In Washington state, the richest pay 3% of their income on taxes, while the poor pay 18%, he said. (That’s according to a report by the Institute on Taxation and Economic Policy, a left-leaning think tank.) Read more
BGR: Families are going to love this stimulus check news
February 22, 2021
This is what was found by an analysis from a left-leaning nonpartisan think tank called the Institute on Taxation and Economic Policy which looked at both the Biden plan as well as related proposals from the House Ways and Means Committee: Rather than simply providing the poorest Americans with $1,400 stimulus checks, Biden’s coronavirus-related stimulus proposal would actually give […]
Heavy.com: Third Stimulus: Poorest Americans Could See 33% Income Boost
February 21, 2021
The relief bill, proposed last month, allocates $1,400 direct checks to eligible individuals and expands the the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC), CBS News reported. With those three measures, the poorest 20% of Americans could see a 33% boost in their pre-tax incomes, CBS said, citing the Institute on Taxation and […]
Bond Buyer: Direct Aid to Local Governments Is on the Way
February 16, 2021
Nationally the expansion of the EITC for workers without children would be the largest since 2009. “The Institute on Taxation and Economic Policy estimates that such expansions along with direct assistance would provide an average income boost of 33% for the poorest 20% of households,” said Rep. Richard Neal, D-Mass., chairman of the Ways and […]
CBS News: Stimulus bill would boost incomes of poorest Americans by nearly $4,000
February 16, 2021
nder the plan advancing in the House Ways and Means Committee, the next stimulus bill would send $1,400 to eligible people, as well as expand the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC). Altogether, the three programs would provide a 33% boost to the pre-tax incomes of the poorest 20% of Americans […]
NEXSTAR Media Wire: Biden stimulus plan would boost incomes for poorest, analysis shows
February 16, 2021
President Joe Biden’s $1.9 trillion American Rescue Plan would benefit millions of Americans, but it would have an outsized impact for the people who make up the poorest fifth of the population, according to an analysis by the Institute on Taxation and Economic Policy (ITEP). The nonpartisan, nonprofit think tank that studies tax policy analyzed […]
The New York Times: California: Liberal Model or Cautionary Tale?
February 16, 2021
Below is an excerpt of an LTE by ITEP Research Director Carl Davis: Of course, the very richest people in California pay more tax than they would if they lived in Texas or Washington. But these top earners can afford to live wherever they want. The best available research concludes that top earners rarely […]
Nasdaq.com: World Reimagined Podcast
February 16, 2021
An analysis by the Institute on Taxation and Economic Policy (ITEP) showed that U.S. President Joe Biden’s $1.9 trillion American Rescue Plan would benefit millions of Americans and would have an outsized impact for the people who make up the poorest fifth of the population. Read more
Fox Business: Biden’s $1.9T stimulus would give almost $3,600 to poorest Americans, analysis finds
February 15, 2021
The Institute on Taxation and Economic Policy (ITEP), a left-leaning nonpartisan think tank, analyzed the cash payment and tax proposals from the House Ways and Means Committee as part of Biden’s stimulus proposal last week. For the poorest 20% of Americans making less than $21,300, the ITEP analysis found they would, on average, pocket $3,590 […]
Thestranger.com: The Choice Is Clear for Washington Democrats: Pass Progressive Taxes or Perpetuate a Racist Tax Code
February 15, 2021
In their analysis of a new report from the Institute on Taxation and Economic Policy, the Budget and Policy Center showed that the effective state and local tax rate for Black, Hispanic, Indigenous, and Pacific Islanders is between half a point and one point higher than it is for white people. “While these differences may […]
Progressive.org: A Chance for New Beginnings
February 15, 2021
Besides doing essential work, undocumented workers contribute $11.7 billion a year in state and local taxes, according to a 2017 estimate by the Institute on Taxation and Economic Policy. Read more
CNBC: A new child tax credit expansion could provide monthly income. Some question whether the help is too much or too little
February 14, 2021
The credit would phase out for those making above those levels, where it would be reduced and then plateau at $2,000 per child. It would be capped for individuals with $200,000 in income and couples with $400,000, the same thresholds in place for the credit today. “The idea is the current $2,000 that people get […]
Washington Post: Drug Companies Seek Billion-dollar Tax Deductions from Opioid Settlement
February 12, 2021
“A settlement has not been reached, and, therefore, we applied significant judgment in estimating the ultimate amount of the opioid litigation settlement that would be deductible,” the company said. Matthew Gardner, a senior fellow at the nonprofit Institute on Taxation and Economic Policy, said these disclaimers suggest the companies are making conservative estimates. “That’s one […]
New York Amsterdam News: To dismantle white supremacy we must tax the rich
February 11, 2021
To further compound racial inequality, other parts of our tax code essentially function as giveaways to the wealthiest white households. Take the tax deduction for income earned from pass-through businesses. Over half of the savings from this deduction alone accrues exclusively to the top 1% of households, who are mostly white. Similarly, the Institute on […]
Yahoo! Lifestyle: This Chart Explains What Your Family Will Get From The Stimulus Package
February 10, 2021
The economic repercussions of the pandemic have devastated many families: from teachers who have no choice but to return to the classroom toretail workers who find themselves out of work due to closed storefronts, most families are feeling the pinch. President Biden’s $1.9 trillion stimulus package, called the American Rescue Plan, has been somewhat of […]
CNET: New Child Tax Credit Could Give Your Family A Bonus Check Every Month For A Year. What To Know
February 10, 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 only consider 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, […]
Fatherly: This Chart Reveals How Much Money Families Will Get From Stimulus Package
February 10, 2021
It’s a genuine anomaly in American welfare policy, and a true sign that American politics is changing. But exactly how much money folks at different income levels can expect to receive is a complicated question, and it’s one that has been answered. Luckily, the Institute on Taxation and Economic Policy has a staff of people […]
Washington Post: The Pandemic Hit Undocumented Restaurant Workers Hard. These Bartenders Swooped in to Feed Them.
February 10, 2021
Of the 11 million undocumented immigrants in the country, many are cumulatively paying billions of dollars each year to state and local taxes, according to the nonpartisan Institute on Taxation and Economic Policy. Some file taxes under an individual taxpayer identification number in hopes that one day it will help their case in gaining legal status. […]
Forbes: Democrats’ Stimulus Priorities Would Boost Income By 33% For Poorest Americans
February 10, 2021
Amid fierce debate among liberal economists over the size of the next federal stimulus bill, a new analysis from the left-leaning Institute on Taxation and Economic Policy found that three of Democrats’ anti-poverty initiatives in the draft legislation—another round of direct payments and major expansions of the child tax credit and the earned income tax […]
AccountingToday: Immigration Reform Taxes Could Help States with Post-COVID Recovery
February 10, 2021
The Institute on Taxation and Economic Policy, a nonprofit, nonpartisan think tank, proposed that states and localities can significantly increase revenue collection by legalizing undocumented immigrants. According to an ITEP report, undocumented immigrants collectively pay an estimated $11.64 billion in taxes a year. The state of California, home to more than 3 million undocumented immigrants, collects […]
Business Insider: The Poorest Americans Can Expect to See a 33% Income Boost with Stimulus Checks and Tax Credit Expansions, New Report Finds
February 10, 2021
The poorest 20% of Americans can expect to see a nearly 33% boost to their incomes with key Democratic stimulus provisions of $1,400 stimulus checks, and the expansion of child tax credits and the Earned Income Tax Credit. In a report released on Tuesday by the Institute on Taxation and Economic Policy — a nonpartisan […]
Law360: NY Gov.’s Pot Tax Proposal Unique, Tax Group Says
February 9, 2021
A potency-based cannabis tax proposal by New York’s governor would bring in more sustainable revenue to the state if passed, Institute on Taxation and Economic Policy said on Tuesday. Read more
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