News Releases
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news release April 16, 2025 Trump Administration’s Decision to End Direct File is Another Gift to Big Corporations
Contact: Jon Whiten ([email protected]) According to multiple reports, the Trump administration plans to eliminate the IRS Direct File program, a free electronic system for filing tax returns directly to the… -
news release March 18, 2025 New Analysis: Congress Considering Creating an Unprecedented Tax Shelter to Steer Billions to Private K-12 School Vouchers and Wealthy Individuals
Contact: Jon Whiten ([email protected]) A bill introduced in Congress would create an unprecedented 100% tax credit for donations to nonprofits that give out private K-12 school vouchers and create a… -
news release February 20, 2025 States Could Raise $19 Billion a Year with One Policy Change Targeting Corporate Tax Avoidance
Worldwide combined reporting negates the tax benefits of shifting corporate income offshore Public polling has consistently shown for decades that most people believe big multinational corporations are paying too little… -
news release October 23, 2024 Harris Tax Plan Would Raise Taxes on the Richest 1%, Cut Them for Everyone Else
Contact: Jon Whiten ([email protected]) The tax proposals announced by Vice President Harris would, on average, lead to a tax increase for the richest 1 percent of Americans and a tax… -
news release October 7, 2024 Trump’s Tax Plan: Like Robin Hood in Reverse
Proposed tax changes would give richest 5% a tax cut, raise taxes on all other groups Contact: Jon Whiten ([email protected]) The tax proposals announced by former President Trump would, on… -
news release July 30, 2024 Study: Undocumented Immigrants Contribute Nearly $100 Billion in Taxes a Year
Contact: Jon Whiten ([email protected]) Immigration policies have taken center stage in public debates this year, but much of the conversation has been driven by emotion, not data. A new in-depth… -
news release June 27, 2024 New Analysis Details How Corporate Tax Cuts Worsen Economic and Racial Inequality
Contact: Jon Whiten ([email protected]) Corporate tax cuts exacerbate economic and racial disparities, according to a new report from the Institute on Taxation and Economic Policy and Liberation in a Generation… -
news release June 20, 2024 SCOTUS Ruling on Moore Prevents Big Retroactive Corporate Tax Break, Leaves Door Open to Federal Wealth Taxes
The Supreme Court upheld the 2017 Trump tax law’s mandatory repatriation tax, one of the few revenue-raising measures in the law. The Court’s ruling is an important victory for fair taxation, as invalidating the tax would have given about 400 multinational corporations a collective $271 billion tax break.
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news release May 2, 2024 One Legacy of the Trump Tax Law: Big Tax Breaks for Big Corporations
The tax law signed by former President Trump in 2017 has slashed taxes for America’s largest, most profitable corporations, a new analysis by the Institute on Taxation and Economic Policy shows.
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news release March 14, 2024 As Chicago Nears Vote on Mansion Tax, New ITEP Brief Looks at This Increasingly Popular Policy
Contact: Jon Whiten ([email protected]) Chicago voters will on Tuesday decide whether to levy a higher real estate transfer tax on properties sold for more than $1 million to help fight… -
news release March 8, 2024 ITEP Statement & Resources: Tax Fairness and The State of the Union
When it comes to tax fairness, President Biden has a clear and compelling vision. Make large, profitable corporations and the wealthy pay their share, reduce taxes on low-income and working families with robust refundable tax credits, and use the trillions of dollars in new resources to create the kind of America we all want to see.
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news release February 29, 2024 New Study: Corporate Tax Avoidance Remains Widespread Under Trump Tax Law
Contact: Jon Whiten ([email protected]) The tax overhaul signed into law by former President Donald Trump in 2017 cut the federal corporate income tax rate from 35 percent to 21 percent,… -
news release January 16, 2024 ITEP Statement on Federal Tax Deal on Child Tax Credit, Business Tax Breaks
Child poverty is a problem. Corporations paying too much in taxes is not. Unfortunately, many members of Congress have refused to direct resources to help children in poverty unless an equal amount of resources is simultaneously directed towards corporate tax cuts.
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news release January 9, 2024 Tax Systems in 44 States Exacerbate Inequality, In-Depth ‘Who Pays?’ Study Finds
The vast majority of state and local tax systems are upside-down, with the wealthy paying a far lesser share of their income in taxes than low- and middle-income families. That’s according to the latest edition of the Institute on Taxation and Economic Policy’s Who Pays?, the only distributional analysis of tax systems in all 50 states and the District of Columbia.
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news release December 7, 2023 The Reach of the Ever-Shrinking Estate Tax is at a Historic Low
Contact: Jon Whiten ([email protected]) Last month when the IRS announced the inflation-adjusted 2024 tax brackets, it also adjusted the basic exemption to the federal estate tax. Next year, an individual… -
news release October 30, 2023 New from ITEP: Three Localities Are Leading the Way on Local EITCs
Refundable local EITCs improve the economic security of workers, families, and children. These credits put dollars directly into the pockets of financially vulnerable households, helping them afford the basics and achieve better health and economic outcomes.
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news release September 27, 2023 As SCOTUS Considers ‘Moore’ Case, Hundreds of Billions of Dollars Hang in the Balance
Later this year, the Supreme Court will hear Moore v. United States which could become the most important tax case in a century.
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news release August 3, 2023 Gimmicky Sales Tax Holidays to Cost States & Localities $1.6 Billion This Year
Sales tax holidays are bad policies that have too often been used as a substitute for more meaningful, permanent reform.
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news release July 5, 2023 Big Corporations Have Reaped Billions in Tax Breaks from ‘Bonus Depreciation’
Big corporations have used a temporary policy that lawmakers are considering extending to get huge tax breaks, according to a new ITEP analysis. The new report looks at how much 25 major corporations saved from 2018-2022, and what their effective corporate tax rates have been as a result.
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news release June 12, 2023 ITEP Analysis: New Proposed Tax Cuts Would Flow Primarily to Wealthiest Americans and Foreign Investors
Contact: Jon Whiten ([email protected]) The trio of tax bills that House Republicans plan on moving forward this week include huge tax cuts that would mostly benefit the wealthiest Americans and… -
news release June 7, 2023 ITEP Statement: American Family Act Prioritizes Tax Credits for Low- and Middle-Income Families
Restoring the more robust CTC should be a top priority of all lawmakers from both sides of the aisle. But unfortunately, this bill stands in stark contrast to other tax bills taking shape that would deeply cut taxes for profitable corporations and wealthy families.
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news release May 28, 2023 ITEP Statement: Debt Deal Avoids the Elephant in the Room
It’s a relief to see that Congressional leaders and the President have come to an agreement to raise the debt limit and avert an economic disaster. But by instituting work requirements for critical assistance programs and rescinding important funding to crack down on wealthy tax cheats, this deal will rig the economy even more in favor of the most well-off Americans while failing to fix the real structural problems that led to the current debt crisis in the first place.
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news release May 11, 2023 States Looking to Make Property Taxes Affordable Should Turn to ‘Circuit Breakers’
Many state legislatures this year have been considering property tax cuts – but too many are ignoring the solution that speaks more directly to questions of property tax affordability than any other policy option: the “circuit breaker.”
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news release May 4, 2023 Extending Temporary TCJA Provisions: A Windfall for the Wealthy with an Enormous Price Tag
The push by Congressional Republicans to make permanent a series of tax laws that expire at the end of 2025 would cost nearly $300 billion in the first year and deliver the bulk of the tax benefits to the wealthiest Americans.
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news release March 30, 2023 ITEP Launches Local Tax Team
Contact: Jon Whiten ([email protected]) For decades, the Institute on Taxation and Economic Policy (ITEP) has played a role in shaping equitable and sustainable tax systems at the federal and state…