Select Media Mentions
SF Gate: These Bay Area Companies Paid Zero Federal Taxes in 2018
December 16, 2019
A new report by the Institute on Taxation and Economic Policy discovered that 91 of Fortune’s top 500 corporations paid no federal income taxes in 2018 — and many actually got money back. The report studied the first year companies were under the Tax Cuts and Jobs Act, signed by President Donald Trump in 2017. The act […]
Fox Business: Many Fortune 500 Companies Paid Half of Trump’s Lower Corporate Tax Rate in 2018: Study
December 16, 2019
President Trump’s sweeping 2017 tax reform law substantially lowered the corporate tax rate, yet a large proportion of Fortune 500 companies paid an effective rate that was nearly half of what was expected of them, new research shows. A number of companies — including Amazon to Starbucks and Chevron — appear to have evaded federal income taxes entirely in […]
Washington Post: A New Report Hands Democrats a Major Weapon Against Trump
December 16, 2019
There is probably no more glaring example of President Trump’s massive betrayal of the economic populist nationalism that infused his campaign than the 2017 tax law. It isn’t just that he signed a massive tax cut that showered most of its benefits on the very highest earners after vowing to take on financial elites. It’s […]
NJ Spotlight: Pascrell, Other House Dems, Introduce Bill to Scrap Federal SALT Cap
December 12, 2019
For example, a new report from the Center on Budget and Policy Priorities estimated that 80% of the benefit of a SALT-cap repeal would go to just the top 5% of tax filers. That followed up on a report released last year by the Institute on Taxation and Economic Policy that estimated 60% of the benefits would […]
The News Tribune: Washington State Leaders Must Tax the Way to a Just Society
December 7, 2019
The inequalities in our state’s tax code are well known, and have gained us the ignoble designation of “the most unfair state and local tax system in the country.” This medal of dishonor from the Institute on Taxation and Economic Policy is based on ITEP’s assessment of how fairly the tax burden is spread among […]
Beacon: New Ad Highlights Collins’ Vote to Pass Tax Break for Wealthy Corporations
December 4, 2019
Marking two years since Senator Susan Collins cast a key vote in support of the 2017 Republican tax overhaul, the progressive 16 Counties Coalition launched a new ad on Monday highlighting corporations like Amazon and Prudential Financial that paid no corporate income taxes following the bill’s passage. In comparison, the ad notes, “one in four Mainers will eventually see their taxes […]
Fox Business: Biden to Unveil Tax Proposal Targeting Corporations, Wealthy
December 4, 2019
Under Biden’s plan, companies like Amazon, Netflix, General Motors, JetBlue and IBM, which reported net income of more than $100 million in the U.S. but paid zero or negative federal income taxes, would be hit with a 10 percent minimum levy on book income. The minimum tax, which Biden’s campaign expects to impact 300 companies, […]
The News Tribune: How Did Tacoma Do Under Trump Tax Cuts? You Can Calculate it for Yourself
November 26, 2019
President Donald Trump has said it’s time to consider another tax cut — as evidence mounts that wealthier taxpayers in the Tacoma area and around the nation benefited a lot more than others from his first one. … Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy, pointed out that the […]
CNBC: Blue States File Appeal in Legal Battle Over SALT Tax Deductions
November 26, 2019
Whether the final rule will ultimately deter people from donating to these funds remains to be seen. “If you’re really passionate about private school vouchers in Georgia, you donate and you still get 100% of your donation back,” Carl Davis, research director at the Institute on Taxation and Economic Policy, told CNBC earlier. “You just […]
The Oracle: Big Corporate Tax Loopholes Strain Florida Budget
November 25, 2019
A 2019 report from the Institute on Taxation and Economic Policy, for instance, examined data from the IRS and Congressional Budget Office, estimating that Florida loses $1.1 billion annually from state corporate tax loopholes. $1.1 billion might seem small compared to the state’s $90 billion budget, but even small funding changes can have big impacts. The […]
Vanity Fair: “My Reserve Of F–Ks To Give Is Really Depleted”: How Teflon Tim Cook Gets Away With Enabling Donald Trump
November 25, 2019
Cook runs the biggest company on earth, with a current market cap of $1.16 trillion, and yet, according to the Institute on Taxation and Economic Policy, a nonprofit, nonpartisan tax-policy think tank, Apple has been playing America for billions in taxes for years. Read more
Business Insider: From Amazon To GM, Here Are all the Major Tech and Transportation Companies who Avoided Federal Income Tax Expenses Last Year
November 24, 2019
The Institute on Taxation and Economic Policy, a nonprofit think tank, analyzed SEC filings of Fortune 500 companies and identified 60 major corporations that didn’t report any federal income tax expenses in 2018. Of those, 11 do business in the tech or transportation industries. Read more
The New York Times: How FedEx Cut Its Tax Bill to $0
November 17, 2019
“Something like $1.5 billion in future taxes that they had promised to pay, just vanished,” said Matthew Gardner, an analyst at the liberal Institute on Taxation and Economic Policy in Washington. “The obvious question is whether you can draw any line, any connection between the tax breaks they’re getting, ostensibly designed to encourage capital expenditures, and what […]
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
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].
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
Subscribe to ITEP Emails
Tax research and policy news in your inbox.
Promote Fair Tax Policy
Your gift to ITEP promotes tax justice. With your help, we do research that supports taxing millionaires and billionaires, taxing big corporations and raising revenue for the things our people, our communities and our planet need.
Together, we can create a country with more economic justice, more racial justice, more climate justice… and more tax justice.