The liberal-leaning Maine Center for Economic Policy (MECEP) praised Mills for her support for Medicaid expansion, but criticized the proposal for failing to reverse LePage’s income tax cuts for the wealthy. Last year, MECEP and the Institute on Taxation and Economic Policy (ITEP) released a report that found that tax cuts passed during the LePage administration will cost the state $864 million in revenue this biennium. About half of the tax breaks went to the top 20 percent of earners while the bottom 20 percent received less than 5 percent of the benefit, the analysis found.
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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 February 14, 2019 Maine Free Press: Mills Budget Provides More School Funding, Fails to Fully Fund Revenue Sharing & Keeps LePage’s Tax Cuts
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media mention February 14, 2019 Daily Mail: REVEALED: Amazon pays NOTHING in federal corporate taxes for the second year running despite doubling its profits to more than $11billion
In last year’s filing Amazon similarly paid no corporate income taxes on its $5.6billion earnings. The Institute on Taxation and Economic Policy revealed the negative tax rate was the result of unspecified ‘tax credits’ and other benefits.
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media mention February 13, 2019 CBS News: After Amazon’s HQ2 Hunt, Some States Target Corporate Tax Breaks
While it’s common for corporations to seek tax breaks in exchange for moving to a particular location, Amazon’s solicitation was unusual in how public it was. Corporate location experts say… -
media mention February 13, 2019 ORT: 2017 Tax Reform Helps Corporations The Most. Who Knew?
The Tax Reform bill of 2017 was supposed to close loopholes which had allowed corporations to avoid paying taxes, but a study by Matt Gardner, Senior Fellow at the Institute on Taxation and Economic Policy (ITEP), of Netflix has shown that it reduced corporate taxes without closing the loopholes. He talks to Jan Miyasaki about the issues and how the trend to shift tax burden to the poor continues.
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media mention February 11, 2019 Cheddar: Netflix’s Tax Hack
Following is link to a video featuring Matt Gardner, ITEP senior fellow, discussing Netflix’s zero-tax bill. -
media mention February 11, 2019 NJTV: Lawmakers Introduce Bipartisan Bill to Fully Restore SALT Deduction
But analysts with the nonpartisan Institute on Taxation and Economic Policy say it’s inaccurate to isolate the SALT deduction. In reality, the average taxpayer in New Jersey will pay less.… -
media mention February 11, 2019 Forbes: Why Some of the Rich Want to Pay More in Taxes
Those with the very highest incomes have benefited disproportionately from tax cuts, and that lost revenue is driving the federal deficit ever higher. The Institute on Taxation and Economic Policy… -
media mention February 11, 2019 Morning Tax: The Latest in Wealth Taxes
The Institute on Taxation and Economic Policy noted recently that Netflix logged record profits in the U.S. in 2018, some $845 million, and ended up not owing any federal taxes.… -
media mention February 11, 2019 KFDM (CBS Affiliate): Shrinking Tax Refunds Stir Controversy
With the benefits of the tax cut spread out across 52 weeks, the gain may have been hard to spot, especially if workers saw increases in health insurance premiums or… -
media mention February 11, 2019 Newsweek: We Shouldn’t Wait for Washington to Tax the Rich: We Can Begin at the State Level
Following is an excerpt from an op-ed by ITEP deputy director Meg Wiehe published in Newsweek Magazine: The historic role tax and other policies have played in exacerbating the wealth… -
media mention February 9, 2019 The Guardian: How Did Netflix Get Away with Not Paying Income Tax in 2018
According to a blogpost from the Institute on Taxation and Economic Policy, the company posted its largest ever profit in 2018 – $845m – but paid no federal (or state)… -
media mention February 7, 2019 The Daily Mail: Netflix Paid NOTHING in Federal or State Taxes in 2018
Netflix didn’t pay a cent in state or federal income taxes last year, despite posting its largest-ever U.S. profit in 2018 of $845million, according to a new report. In addition,… -
media mention February 6, 2019 Montana Public Radio: Lawmakers Hear Massive Proposal For Statewide Sales Tax
Another D.C. based think tank, the Institute on Taxation and Economic Policy, puts Montana’s current tax system among their top ten most equitable systems in the country, in part because… -
media mention February 5, 2019 Arkansas Democrat Gazette: Arkansas Senate Panel Fives Fast Nod to Governor’s Tax-cut Plan
While the finance department projected the governor’s tax will eventually reduce tax revenue by $97 million a year after it’s fully implemented, Lisa Gee, a senior policy analyst for the… -
media mention February 5, 2019 Bloomberg Tax: Economic Policy Group Proposes Slew of Progressive Tax Policies
The Institute on Taxation and Economic Policy in a new report detailed several potential progressive tax policy proposals—including a revamp of capital gains taxation that would pull in nearly $2.5… -
media mention February 5, 2019 Washington Post: Live Commentary on Trump’s SOTU
E.J. DIONNE JR., 9:27 p.m.: “A massive tax cut for working families.” Really? “If you look at the richest 1 percent, they’re getting more than the bottom 60 percent of… -
media mention February 4, 2019 City Lab: The Airbnb Effect: It’s Not Just Rising Home Prices
And cities with less stringent Airbnb regulations might also be losing out on a lot of tax revenue. Traditional lodging entities (when combining city, state, and county taxes), are taxed… -
media mention January 29, 2019 Washington Post: Warren’s Push for a Wealth Tax Could Be a Game Changer
Many on the right are already lashing out at Warren’s proposal. (On Fox News, it was preposterously likened to Venezuelan socialism.) Others have argued that it would be unconstitutional, a… -
media mention January 28, 2019 The Hill: Warren Stakes out Ground with Wealth Tax Proposal
Steve Wamhoff, director of tax policy at the Institute on Taxation and Economic Policy, said middle-income Americans are essentially already taxed on their wealth because most of it is in… -
media mention January 28, 2019 Arizona Republic: Fact Check on Immigration
“It sounds extraordinarily high to me,” Meg Wiehe, deputy director at the nonpartisan Institute on Taxation and Economic Policy told NBC. Read more -
media mention January 28, 2019 Chicago Sun-Times: 47th Ward Candidate for Alderman
We need more progressive revenue sources to help address our pension obligations. Our state’s combination of a flat income tax, high sales taxes, and heavy local reliance on property taxes… -
media mention January 25, 2019 Bloomberg: Warren’s Tax Proposal Aims at Assets of Wealthiest Americans
Her plan would do more to relieve inequality than New York Democratic Representative Alexandria Ocasio-Cortez’s idea to raise the top income tax rate to 70 percent, according to Steve Wamhoff,… -
media mention January 25, 2019 Washington Post: Elizabeth Warren to Propose Wealth Tax
Estimates of how much money can be raised by taxing the very rich vary dramatically. The Institute on Taxation and Economic Policy, a left-leaning think tank, published a report on… -
media mention January 24, 2019 Wall Street Journal: Democrat Elizabeth Warren Proposes Wealth Tax
That is roughly 10 times the revenue that the current estate and gift taxes are projected to raise, but Ms. Warren’s “ultramillionaire-tax” proposal on the top 0.1% isn’t just about… -
media mention January 24, 2019 CNBC: Elizabeth Warren proposes ‘wealth tax’ on Americans with more than $50 million in assets
While the 1 percent of Americans with the highest incomes receive about 20 percent of the total income in the United States, the top 1 percent of wealth holders collectively…