News Releases
ITEP Statement: Senate-Passed Megabill Makes History in Appalling Ways
July 1, 2025 • By ITEP Staff
Today the Senate passed the tax and spending megabill, sending it to the House. See below for a statement from ITEP as well as our analyses of the tax impacts of the legislation. STATEMENT from AMY HANAUER, EXECUTIVE DIRECTOR OF THE INSTITUTE ON TAXATION AND ECONOMIC POLICY: “This abominable bill will make history – in […]
NEW: ITEP Analysis of Senate Tax Bill Shows Windfall for the Wealthy, Not Much for the Rest
June 25, 2025 • By ITEP Staff
Contact: Jon Whiten ([email protected]) With Senate Republicans hoping to hold a vote soon on their version of the tax and spending package passed by the House last month, a new national and state-by-state analysis from the Institute on Taxation and Economic Policy (ITEP) finds that, like the House-passed bill, the Senate proposal favors the richest […]
ITEP Statement & Resources on the Senate Tax Bill
June 17, 2025 • By ITEP Staff
This is a recklessly expensive bill that will expand economic inequality in America by making the tax code more tilted to the top, and pay for it in part by stripping health care from millions of Americans and rolling back critical climate investments.
ITEP Statement: House-Passed Tax Plan Widens the Gap Between the Rich and the Rest
May 22, 2025 • By ITEP Staff
After a floor session that began in the middle of the night, the House of Representatives has passed its reconciliation bill including massive tax cuts and deep cuts to spending. Statement from Amy Hanauer, Executive Director of the Institute on Taxation and Economic Policy: “It’s not surprising that this bill was written behind closed doors […]
ITEP Statement: House’s Recklessly Expensive Tax Bill Would Expand Inequality
May 13, 2025 • By ITEP Staff
This bill gives enormous additional tax cuts to wealthy people and corporations, spikes the deficit, and strips health care from millions of Americans.
ITEP Statement: Partial House Tax Bill Doubles Down on Trickle Down
May 10, 2025 • By ITEP Staff
So far this costly bill appears to double down on trickle down, with huge tax cuts that will further enrich the rich and not much for the rest of us. What’s more, many of the modest improvements for lower- and middle-income families are proposed to be temporary, whereas the benefits for the wealthiest are proposed to be permanent.
Trump Administration’s Decision to End Direct File is Another Gift to Big Corporations
April 16, 2025 • By ITEP Staff
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 agency. Statement from ITEP Executive Director Amy Hanauer “The tax preparation industry has for years lobbied to prevent the IRS from providing a tool to […]
New Analysis: Congress Considering Creating an Unprecedented Tax Shelter to Steer Billions to Private K-12 School Vouchers and Wealthy Individuals
March 18, 2025 • By ITEP Staff
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 lucrative tax shelter that would further enrich some of America’s wealthiest individuals. If passed, the Educational Choice for Children Act of 2025 (ECCA) would cost […]
States Could Raise $19 Billion a Year with One Policy Change Targeting Corporate Tax Avoidance
February 20, 2025 • By ITEP Staff
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 in taxes. Closing the loopholes these corporations use to avoid taxes is one of the most effective – and popular – solutions to this problem. […]
Harris Tax Plan Would Raise Taxes on the Richest 1%, Cut Them for Everyone Else
October 23, 2024 • By ITEP Staff
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 cut for all other income groups, according to a new in-depth analysis by the Institute on Taxation and Economic Policy (ITEP). This is in stark […]
Trump’s Tax Plan: Like Robin Hood in Reverse
October 7, 2024 • By ITEP Staff
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 average, lead to a tax cut for the richest 5 percent of Americans and a tax increase for all other income groups, according to a […]
Study: Undocumented Immigrants Contribute Nearly $100 Billion in Taxes a Year
July 30, 2024 • By ITEP Staff
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 study from the Institute on Taxation and Economic Policy aims to help change that by quantifying how much undocumented immigrants pay in taxes – both […]
New Analysis Details How Corporate Tax Cuts Worsen Economic and Racial Inequality
June 27, 2024 • By ITEP Staff
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 that is the first of its kind to analyze the distribution of these cuts across different racial and economic groups. This collaborative report examines the […]
SCOTUS Ruling on Moore Prevents Big Retroactive Corporate Tax Break, Leaves Door Open to Federal Wealth Taxes
June 20, 2024 • By ITEP Staff
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.
One Legacy of the Trump Tax Law: Big Tax Breaks for Big Corporations
May 2, 2024 • By ITEP Staff
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.
As Chicago Nears Vote on Mansion Tax, New ITEP Brief Looks at This Increasingly Popular Policy
March 14, 2024 • By ITEP Staff
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 homelessness. Regardless of the outcome in the Windy City, these “mansion taxes” are increasingly popular with local policymakers who are seeking innovative and progressive ways […]
ITEP Statement & Resources: Tax Fairness and The State of the Union
March 8, 2024 • By ITEP Staff
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.
New Study: Corporate Tax Avoidance Remains Widespread Under Trump Tax Law
February 29, 2024 • By ITEP Staff
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, but during the first five years it has been in effect, most profitable corporations paid considerably less than that. The details are explored in a […]
ITEP Statement on Federal Tax Deal on Child Tax Credit, Business Tax Breaks
January 16, 2024 • By ITEP Staff
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.
Tax Systems in 44 States Exacerbate Inequality, In-Depth ‘Who Pays?’ Study Finds
January 9, 2024 • By ITEP Staff
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.
The Reach of the Ever-Shrinking Estate Tax is at a Historic Low
December 7, 2023 • By ITEP Staff
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 can leave behind an estate of $13.61 million without triggering the tax (for a married couple, that doubles to $27.22 million). Clearly, the estate tax […]
New from ITEP: Three Localities Are Leading the Way on Local EITCs
October 30, 2023 • By ITEP Staff
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.
As SCOTUS Considers ‘Moore’ Case, Hundreds of Billions of Dollars Hang in the Balance
September 27, 2023 • By ITEP Staff
Later this year, the Supreme Court will hear Moore v. United States which could become the most important tax case in a century.
Gimmicky Sales Tax Holidays to Cost States & Localities $1.6 Billion This Year
August 3, 2023 • By ITEP Staff
Sales tax holidays are bad policies that have too often been used as a substitute for more meaningful, permanent reform.
Big Corporations Have Reaped Billions in Tax Breaks from ‘Bonus Depreciation’
July 5, 2023 • By ITEP Staff
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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