Select Media Mentions
Orlando Sentinel: As Florida Cuts Corporate Taxes, Your Tax Burden Rises … and Schools, Mental Health, Roads Suffer
November 15, 2019
Families that make less than $50,000 a year pay between 8.1% and 12.7% of their income in local and state taxes, according to the Institute on Taxation and Economic Policy, while families that make $200,000 or more pay between 2.3% and 4.5%. Read more
PolitiFact: Viral Post Says Democrats Spent $40 Million on Impeachment. That’s False
November 15, 2019
Tax policy experts told us they aren’t sure how much the impeachment inquiry has cost since Speaker Nancy Pelosi announced it Sept. 24. “I can’t think of anyone who’s tried to calculate this cost,” said Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, in an email. Read more
USA Today: Trump Is Floating Another Tax Cut. But the Last Thing We Need Is More Breaks for the Rich.
November 14, 2019
Why is it so important that the rich pay more? Those at the top benefit much more from all the public investments we finance with our tax dollars. President Donald Trump has again hinted that another tax cut may be on the way. It does not appear he has any actual plan to provide one, which is […]
Orlando Sentinel: In Florida, 99% of Companies Pay No Corporate Income Tax — with Lawmakers’ Blessing
November 13, 2019
A leaky corporate income tax ultimately shifts more of the cost of Florida government from corporations onto others, including low- and middle-income families, said Matt Gardner, a senior fellow at ITEP. “Every million dollars you’re not collecting that way is a million dollars that local governments are trying to collect through speed traps or dog-catcher […]
Washington Post: Pete Buttigieg Proposes Free College for Americans Earning Under $100,000 in his New Economic Plan
November 8, 2019
Democratic candidate Julián Castro, the former secretary of housing and urban development in the Obama administration, has also proposed expanding the EITC. Castro would go further and also make the child tax credit fully refundable, another benefit to lower-income families that Buttigieg did not include in his plan. Sens. Kamala D. Harris (D-Calif.) and Cory […]
The Washington Post: Pete Buttigieg Proposes Free College for Americans Earning Under $100,000 in His New Economic Plan
November 8, 2019
Democratic candidate Julián Castro, the former secretary for housing and urban development in the Obama administration, has also proposed expanding the EITC. Castro would go even further and also make the child tax credit fully refundable, another benefit to lower-income families that Buttigieg did not include in his plan. Sens. Kamala D. Harris (D-Calif.) and […]
Capitol and Main: Trump Boasts of Economic Growth as Inequality Deepens
November 7, 2019
A second term for Trump would likely mean a doubling down on his inequality exacerbating tax and regulatory agenda. “There will be more tax cuts and further inequality,” said Steven Wamhoff, the director of Federal Tax Policy at the Institute on Taxation and Economic Policy. Republicans have already proposed legislation to make Trump’s 2017 tax […]
Fast Company: While Trump Boasts of Economic Growth, Inequality Deepens
November 7, 2019
“There will be more tax cuts and further inequality,” said Steven Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy. Republicans have already proposed legislation to make Trump’s 2017 tax cuts permanent, because many provisions will otherwise expire at the end of 2025. While the bill would protect cuts […]
The News-Tribune: We in Washington Pay Highest Estate Tax in the Nation. There’s a Reason, Officials Say
November 1, 2019
“Low income and middle income (earners) pay much higher proportions of their incomes than the wealthy, mostly because we don’t have the income and the capital gains tax, and we’re really dependent on the sales tax and the (business and occupation) tax,” said state Sen. Christine Rolfes, the Bainbridge Island Democrat who is chairwoman of […]
Albuquerque Journal: Tax Reforms Restore Fairness and Set Up Reliable Revenue
November 1, 2019
Recent analysis by the non-partisan Institute on Taxation and Economic Policy confirms what we expected from income tax changes signed into law this year by Gov. Michelle Lujan Grisham – that we have taken a large step toward improving the fairness of our tax system and helping our working families in New Mexico. Read more
Bloomberg: Treasury Plans to Weaken Rules Meant to Stop Corporate Tax Avoidance
November 1, 2019
The Treasury Department should tread cautiously in weakening these rules now while Democratic lawmakers are eager to repeal large portions of the 2017 tax overhaul, said Matt Gardner, a senior fellow at the left-leaning Institute on Taxation and Economic Policy. If the next Congress makes changes to the overhaul, these rules might be an important […]
WXIA 11Alive: How Much Do Undocumented Immigrants Contribute in Taxes?
November 1, 2019
Let’s take the state of Georgia as an example. Per ITEP, in 2017, undocumented immigrants contributed more than $351 million in local and state taxes – just in Georgia. According to ITEP, undocumented immigrants pay an estimated $11.7 billion in state and local taxes per year. Watch/Read more
The Hill: Left-leaning Group: Taxes on Financial Trades Could Reduce Inequality
October 28, 2019
In its report, the Institute on Taxation and Economic Policy (ITEP) argued it’s possible that the higher costs of financial trades produced by an FTT would be fully borne by investors, and that a portion of the higher costs are borne by the owners and employees of financial institutions. Under either of those options, an FTT would […]
The Sacramento Bee: California Democrat Wants to Make PG&E Pay a Penalty if it Gives Executive Bonuses
October 28, 2019
Harder’s bill would revive a tax called the alternative minimum tax for utilities that offer executive bonuses but have failed to invest in climate-resilient infrastructure. The bill is written to specifically target PG&E, which has not paid federal income taxes in the past decade due to tax loopholes on depreciation, according to the Institute on Taxation […]
Las Cruces Sun News: Income Tax Changes Benefit Most Families in New Mexico
October 27, 2019
Recent analysis by the non-partisan Institute on Taxation and Economic Policy confirms what we expected from income tax changes signed into law this year by Gov. Michelle Lujan Grisham — that we have taken a large step toward improving the fairness of our tax system and helping working families in New Mexico. Read more
ProPublica: How a Tax Break to Help the Poor Went to NBA Owner Dan Gilbert
October 24, 2019
The upside for an investor such as Gilbert “could be huge,” said Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy, a liberal-leaning think tank. “This seems to be a situation where someone is going to get tax breaks for something they were going to do anyway.” Read more
Wall Street Journal: Rising California Gasoline Prices Highlight Growing Divide in U.S.
October 23, 2019
A dozen states raised gas taxes earlier this year, including Illinois, Ohio, California, Maryland and Michigan, according to the Institute on Taxation and Economic Policy, a state and federal tax-policy think tank. Read more
The Hill: Senate Rejects Dem Measure to Overturn IRS Rules on SALT Deduction Cap
October 23, 2019
Lawmakers will have a major opportunity to revisit the GOP tax law at the end of 2025, when the SALT deduction cap and the law’s other tax changes to the individual code expire. But a future Democratic president and Congress may want to reexamine the cap and the tax law as a whole sooner than […]
The View: 60 Fortune 500 Companies Paid Zero Federal Income Tax
October 18, 2019
In this October 2019 episode of The View, Whoopi Goldberg, Chelsea Clinton and Sunny Hostin call out big business for spending big money to avoid paying taxes in a time when corporate tax rates were slashed by the Trump Administration and Congress. Watch the video
KRWG: Analysis: 70% of NM Families With Children Will See State Income Tax Cut
October 16, 2019
Commentary: Most New Mexico families with children – 70% – will get a break on their state personal income taxes when they file their 2019 tax returns, thanks to legislation enacted in April by the state Legislature and Governor Michelle Lujan Grisham. That’s according to an analysis by the Washington, DC-based Institute on Taxation and […]
Real Change: Fishing for Equity in a Regressive Tax System
October 16, 2019
“It’s always about race, and it’s always about taxes,” said Misha Hill, a policy analyst with the Institute on Taxation and Economic Policy (ITEP). ITEP is the source of the frequently cited statistic that Washington has the most regressive tax system in the country. In fact, Hill said, there are no states in the union […]
POLITICO: Cannabis was supposed to be a tax windfall for states. The reality has been different.
October 14, 2019
In all, five of the nine states that have set up tax systems for legalized marijuana employ cultivation levies on growers, while all but Alaska charge an excise tax specifically on cannabis sales. Five states also charge the general sales tax, though not the same exact group that has a cultivator tax. The actual effective […]
POLITICO: Cannabis Was Supposed to Be a Tax Windfall for States. The Reality Has Been Different.
October 14, 2019
In all, five of the nine states that have set up tax systems for legalized marijuana employ cultivation levies on growers, while all but Alaska charge an excise tax specifically on cannabis sales. Five states also charge the general sales tax, though not the same exact group that has a cultivator tax. The actual effective […]
The Heartland Institute: Utah Studies New Method for Transportation Funding
October 11, 2019
The Institute on Taxation and Economic Policy has also found that gas taxes are not a sufficient funding source to repair and rebuild the nation’s crumbling infrastructure. This is mainly due to more fuel-efficient vehicles on the road coupled with skyrocketing transportation construction costs. Read more
Press-Republican: Cuomo Loses Opening Round in Fight Against New Tax Law
October 6, 2019
The Institute on Taxation and Economic Policy, a national think tank, projected in late 2017 that more than 70 percent of New York taxpayers would end up paying less in federal taxes as a result of the code revisions. Cuomo, though, has maintained the capping of the SALT deduction would motivate some wealthy earners to […]
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