Following is a statement by Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, regarding the Trump administration’s musings to respond to the COVID-19 health and economic crisis with tax cuts.
News Releases
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news release May 6, 2020 ITEP: White House Seeks to Exploit COVID-19 Crisis to Enact Unpopular Tax Cuts
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news release April 24, 2020 ITEP: Making Decisions on Federal Relief Based on Blue v. Red States is Morally Bankrupt
Media contact Following is a statement by Meg Wiehe, deputy executive director of the Institute on Taxation and Economic Policy, regarding Senate Majority Leader Mitch McConnell’s press release on “blue… -
news release April 21, 2020 ITEP: Congress Must Provide More Relief to States
Media contact Following is a statement by Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, regarding the Senate bill on small business relief. “State budgets have… -
news release April 14, 2020 ITEP: Tax Cuts for Millionaires in the CARES Act Violate Public Trust
“Public trust and the broad agreement that families and communities needed immediate relief from the economic crisis allowed the $2.2 trillion economic relief package to move quickly through Congress. Yet during a crisis in which thousands have lost their lives and millions are losing their jobs, their health care and their retirement security, some of our lawmakers snuck in tax benefits for the nation’s richest families.”
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news release March 27, 2020 The Job Is Not Yet Done: ITEP Statement on the $2 Trillion Relief Package
Following is a statement by Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, regarding the $2 trillion relief package expected to be enacted today. ITEP’s distributional… -
news release March 25, 2020 New Analysis Shows Average Rebate for Families in the Stimulus Bill
The Senate agreed to a compromise stimulus bill last night that improves on flaws in its initial bill but still fails to go as far as other proposals and leaves out immigrants who file taxes via Individual Taxpayer Identification Numbers (ITIN), the Institute on Taxation and Economic Policy said today.
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news release March 23, 2020 New Analysis: Revised GOP Stimulus Proposals Still Fails to Meet Critical Needs
Media Contact The revised GOP stimulus proposal still fails to do enough for struggling families while providing a no-strings-attached bailout to corporations, the Institute on Taxation and Economic Policy said… -
news release March 20, 2020 New Analysis Compares Republican- and Democratic-Sponsored Proposals to Help Families and Individuals
Media Contact The economic stimulus bill released by Senate Majority Leader Mitch McConnell Thursday night would leave behind millions of adults and children and do little to help struggling families… -
news release March 19, 2020 Senate Bill Addresses Unprecedented Health and Economic Crisis with Wrong-Headed Corporate Tax Cuts
Following is a statement by Amy Hanauer, ITEP’s executive director, regarding the GOP aid plan introduced today by the Senate: -
news release February 19, 2020 White House Advisors’ Push for Corporate ‘Minimum Tax’ Will Not Fix the Tax Law
A White House proposal to follow Trump’s massive corporate tax cuts with a minimum corporate tax would be like shooting a person on Fifth Avenue and then offering them a band aid.
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news release February 10, 2020 “Budget for America’s Future” Cuts Funding for Essentials
The budget proposal reinforces the Trump Administration’s commitment to maintaining trillions in tax cuts for the rich and corporations, even if it requires cutting support for food assistance, cutting funding support for education, harming our environment or taking away health care from millions of Americans.
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news release December 16, 2019 Fortune 500 Companies Avoided $73.9 Billion in Tax Under First Year of Trump Tax Law
A comprehensive examination of Fortune 500 companies’ financial filings in 2018, the first year of the Tax Cuts and Jobs Act, finds that the law did nothing to curb corporate tax avoidance, with 91 companies paying $0 in taxes on U.S. income in 2018 and profitable companies overall paying a collective effective tax rate of 11.3 percent, which is barely more than half the 21 percent rate established by the tax law, the Institute on Taxation and Economic Policy (ITEP) said today.
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news release November 5, 2019 Amy Hanauer Appointed as Executive Director of ITEP-CTJ
Institute on Taxation and Economic Policy (ITEP) and Citizens for Tax Justice (CTJ) Boards of Directors announced today the appointment of Amy Hanauer as Executive Director to lead the organizations’ tax justice work. Hanauer, founder of Policy Matters Ohio, will assume responsibilities mid-January 2020, joined by long-time ITEP-CTJ team member Meg Wiehe in her expanded role as Deputy Executive Director. Together the pair will lead the organizations in transforming tax policies to better meet the country’s needs.
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news release September 12, 2019 Senator Releases Plan That Would Increase Capital Gains Tax Rates, Close Loopholes
Following is a statement from Alan Essig, executive director for the Institute on Taxation and Economic Policy, on the paper released today by the Senate Finance Committee’s ranking Democrat, Ron Wyden, calling for anti-deferral accounting, which could dramatically reform the way the U.S. taxes capital gains.
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news release September 12, 2019 New Report: A Chicago EITC Would Benefit up to 1 Million Chicago Families
Media contact Report outlines policy options for Chicago Resilient Families Initiative Task Force Recommendations A new report reveals that a city-level, Chicago Earned Income Tax Credit would boost the economic security… -
news release August 7, 2019 Leadership Transition Announcement
Notes from Alan Essig, Executive Director of the Institute on Taxation and Economic Policy and Citizens for Tax Justice, and Joan Entmacher, Board Chair of the Institute on Taxation and Economic Policy, and Ed Jayne, Board Chair of Citizens for Tax Justice, announcing leadership transition.
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news release July 17, 2019 Sales Tax Holidays Are Outdated Gimmicks That Have Run Their Course
Just as the very first sales tax holiday for car sales did not fix the auto industry’s challenges, providing consumers a temporary reprieve on sales tax will not address families’ pocketbook concerns.
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news release June 27, 2019 Travelers in 12 States Will Pay More in Gas Taxes Beginning Monday
Drivers in 12 states who hit the road during this summer driving season will be paying more in gas tax beginning Monday, July 1.
While the federal gas tax has remained stagnant for nearly 26 years, many states have stepped up and increased their taxes so they can raise revenue to fund infrastructure and other projects. California, Indiana, Maryland, Michigan, Montana, Nebraska, Ohio, Rhode Island, South Carolina, Tennessee and Vermont all will raise their gas taxes.
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news release June 11, 2019 Treasury Regulations Address Long-Standing Tax Loophole
Following is a statement by Carl Davis, research director at the Institute on Taxation and Economic Policy, regarding Department of Treasury regulations released today to address state policies that allow… -
news release May 22, 2019 Five Recent Federal Tax Credit Proposals Target Benefits to Bottom 60 Percent of Taxpayers
Five tax proposals announced this year are a radical departure from the top-heavy 2017 Tax Cuts and Jobs Act, targeting their benefits instead to low- and moderate income families while providing no or nominal tax cuts to the highest-earning households, a new Institute on Taxation and Economic Policy analysis of each of the five plans reveals.
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news release April 17, 2019 New 50-State Analysis: State Child Tax Credits Would Lift 2.1 to 4.5 Million Children out of Poverty
Expanding the Child Tax Credit (CTC) at the state level could lift millions of children out of poverty and help families who benefited little or not at all from the 2017 federal expansion of the CTC, according to a 50-state report released today by the Institute on Taxation and Economic Policy and the Center on Poverty and Social Policy at Columbia University.
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news release April 11, 2019 60 Fortune 500 Companies Avoided All Federal Income Tax in 2018 Under New Tax Law
Media Contact An in-depth analysis of Fortune 500 companies’ financial filings finds that at least 60 of the nation’s biggest corporations didn’t pay a dime in federal income taxes in… -
news release March 11, 2019 White House Budget Fails to Acknowledge Role of Tax Cuts in the Deficit while Calling for Draconian Spending Cuts
As expected, the president’s budget would enshrine top-heavy tax cuts into law and finance them by slashing domestic programs. It is time for a course correction.
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news release March 7, 2019 Gov. Pritzker’s Tax Proposal Is a Huge Step Toward Fairer Taxes
Gov. Pritzker’s Fair Tax proposal reflects a necessary and strong commitment to reforming Illinois’s tax system in a fair way that will help the state raise the revenue it needs to stabilize its finances and improve quality of life for all its residents. The state’s financial crisis spans several years and getting the state back on firm fiscal footing requires bold solutions and—yes—tax increases.
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news release February 28, 2019 Education Department Tax Credit Proposal Would Undermine Public Schools
The Education Department today announced a proposed new federal tax credit for so-called school choice. The $5 billion proposal would give those who donate to private school voucher programs a tax credit. Following is a statement by Carl Davis, research director at the Institute on Taxation and Economic Policy.