News Releases
GOP Will Have to Radically Depart from Previous Proposals to Meet Its Tax Reform Goals
July 27, 2017 • By ITEP Staff
Following is a statement by Alan Essig, executive director of the Institute on Taxation and Economic Policy, regarding GOP leadership’s tax reform goals released today. The tax reform goals outlined in the letter will not be achieved if the GOP pursues pending Trump Administration and House tax proposals. “First was a so-called health reform bill […]
50-State Analysis of Trump’s Tax Outline: Poorer Taxpayers and Poorer States are Disadvantaged
July 20, 2017 • By Alan Essig
Not only would President Trump’s proposed tax plan fail to deliver on its promise of largely helping middle-class taxpayers, it also would shower a disproportionate share of the total tax cut on taxpayers in some of the richest states while southern and a few other states would receive a smaller share of the tax cut […]
Regardless of Political Maneuvers, Tax Cuts for the Rich Remain Tied to Cuts in Health Care
July 13, 2017 • By ITEP Staff
The GOP continues its dogged attempt to unravel the Affordable Care Act under the guise of ‘fixing’ our health system despite multiple Congressional Budget Office reports indicating millions stand to lose health care coverage. It’s is not obvious that this version of the bill is much different from the previous fiasco of a bill in which CBO projected 22 million would lose coverage.
Speaker Ryan’s “Bold Agenda” for the Country Boils Down to Tax Breaks for the Wealthy
June 20, 2017 • By Alan Essig
Speaker Paul Ryan today correctly outlined some of working people’s concerns, including the desire for more good jobs and access to the training required to secure those jobs. But his bottom line policy prescriptions for addressing the concerns of working people are the same old trickle-down economic policies that time after time have proven to primarily benefit the wealthy.
Trump’s Budget Proposal and Tax Plan Are the Antithesis of Populism
May 23, 2017 • By Alan Essig
A month ago, President Trump released a tax sketch that likely would redistribute wealth upward, and today he has poured salt on the wound with a proposed budget that would gut safety net programs and cut funding for other services that help move people out of poverty. Yet the PR refrain is the same Orwellian prattle we’ve been hearing for years: water isn’t wet, tax cuts for the rich will eventually trickle down to the rest of us, and balancing the federal budget must always rely on cutting programs that benefit ordinary people.
Corporate Lobbyists Should Not Shape the Nation’s Tax Reform Debate
May 18, 2017 • By Alan Essig
If the lineup for today's House Ways and Means Committee hearing on tax reform is an indication of how the tax policy debate will unfold in the coming months, businesses and their lobbyists will have outsize influence in the process. This is a mistake.
Report: Private School Voucher Proposal Creates Tax Shelter for Wealthy; Would Starve Public Schools of Critical Funds
May 17, 2017 • By ITEP Staff
A new report by the Institute on Taxation and Economic Policy (ITEP) and AASA, the School Superintendents Association, details how tax subsidies that funnel money toward private schools are being used as profitable tax shelters by high-income taxpayers. Further, legislation pending in Congress would create new opportunities for corporations and successful investors to earn huge […]
Profitable Fortune 500 Companies Avoid $126 Billion in State Corporate Taxes Over Eight Years
April 27, 2017 • By ITEP Staff
The Effective State Tax Rate Paid by Profitable Fortune 500 Corporations Is Declining,Yet States Continue to Actively Dismantle Their Corporate Income Taxes (Washington, D.C.) As states struggle with tough budget decisions about funding essential public services, the average effective state tax rate paid by profitable Fortunate 500 companies continues to drop due to copious loopholes […]
Trump Tax Plan Revives Economic Voodoo
April 26, 2017 • By Alan Essig
Following is a statement by Alan Essig, executive director of the Institute on Taxation and Economic Policy, regarding the tax plan released today by the Trump Administration. The administration has said that this plan will be the “largest tax cut in history.” “The Trump tax plan is not tax reform but a massive tax cut […]
New Report: DACA-Eligible Immigrants Annually Pay $2 billion in State and Local Taxes
April 24, 2017 • By Meg Wiehe
Young undocumented immigrants’ tax contributions would drop by nearly half if DACA protections were rescinded A new Institute on Taxation and Economic Policy report examined the state and local tax contributions of young immigrants eligible for DACA (deferred action for childhood arrivals) and found that, collectively, they annually contribute $2 billion in state and local […]
New Analysis: Average Alaskan Would Pay Less Under Income Tax Than Under Other Fiscal Options
April 23, 2017 • By ITEP Staff
Cutting the Permanent Fund Dividend (PFD) or Implementing a Sales Tax Would Be Costlier than Income Tax for Most Alaskans A new analysis by the Institute on Taxation and Economic Policy (ITEP) finds that for most Alaskans, a state income tax would capture less of their income than other revenue-raising alternatives such as cutting the […]
Resources for Tax Day 2017
April 13, 2017 • By ITEP Staff
Federal and state taxes are a contentious point of policy debate all year round but are especially salient in the minds of most Americans as Tax Day approaches. This year, people across the country will take to the streets in cities across the nation to demand President Donald Trump release his tax returns. This isn’t […]
New Analysis Compares Tax Rates Paid by Companies Lobbying for/against Border Adjustment Tax
March 31, 2017 • By Matthew Gardner
An Institute on Taxation and Economic Policy analysis finds that, on average, companies that are opposed to the Border Adjustment Tax pay higher tax rates than a coalition of companies lobbying against the tax. The Border Adjustment Tax or BAT is being proposed as part of a broader GOP plan to overhaul the corporate tax […]
Gas Tax Trivia Apropos for April Fool’s Day
March 29, 2017 • By ITEP Staff
April 1 will mark the longest-running streak that the federal gas tax has remained stagnant, a short analysis from the Institute on Taxation and Economic Policy reveals. Saturday will mark the 8,584th day (23.5 years) that the nation’s federal gasoline tax rate has remained at 18.3 cents per gallon. This surpasses the previous record of […]
Corporations’ Offshore Cash Hoard Grew to $2.6 Trillion in 2016
March 28, 2017 • By ITEP Staff
U.S. corporations now hold a record $2.6 trillion offshore, a sum that ballooned by more than $200 billion over the last year as companies moved more aggressively to shift their profits offshore, according to a new report, Fortune 500 Companies Hold a Record $2.6 Trillion Offshore, released today by the Institute on Taxation and Economic Policy (ITEP).
New 50-State Analysis of AHCA Tax Provisions
March 27, 2017 • By ITEP Staff
A new Institute on Taxation and Economic Policy analysis of tax provisions in the American Health Care Act provides a 50-state breakdown of how taxpayers would be affected by the Republican plan to repeal the net investment tax and additional Medicare tax, each of which apply only to the best-off Americans. Repealing these taxes would, […]
ITEP and CTJ Boards Announce Alan Essig as New Executive Director
March 6, 2017 • By ITEP Staff
The Institute on Taxation and Economic Policy Board of Directors and the Citizens for Tax Justice Board of Directors are pleased to announce that Alan Essig has been named the next executive director of both organizations. Robert McIntyre, director of CTJ, will retire effective March 31, and Matthew Gardner, former executive director of ITEP, has assumed the position of senior fellow. Mr. Essig will begin his new role on April 3, 2017.
Yes, They Pay: Updated Report Finds Undocumented Immigrants Annually Pay $11.74 Billion in State and Local Taxes
March 2, 2017 • By ITEP Staff
A newly updated report released today provides data that helps dispute the erroneous idea espoused during President Trump’s address to Congress that undocumented immigrants are a drain to taxpayers. In fact, like all others living and working in the United States, undocumented immigrants are taxpayers too and collectively contribute an estimated $11.74 billion to state […]
Contrary to Rhetoric, President’s Tax Plan Will Disproportionately Benefit Wealthy Taxpayers and Corporations
February 28, 2017 • By ITEP Staff
Following is a statement by Matthew Gardner, senior fellow at the Institute on Taxation and Economic Policy, regarding President Donald Trump's address to Congress. During the speech, Trump said he will reduce the corporate tax rate and provide "massive" tax relief for the middle class.
Trump/Congressional Tax Holiday Would Net $514 Billion Corporate Tax Break
January 18, 2017 • By ITEP Staff
Fortune 500 corporations stand to reap $514 billion in tax breaks under President-elect Trump's proposal to allow companies to pay only a 10 percent tax rate on offshore profits. And the 10 firms that have most aggressively shifted their profits offshore would glean fully 25 percent of this massive corporate tax break, the Institute on Taxation and Economic Policy (ITEP) said today.
News Release: U.S. Should Take a Page from European Commission’s Book And Crack Down on Corporate Tax Avoidance
August 30, 2016 • By ITEP Staff
Following is a statement by Matt Gardner of the Institute on Taxation and Economic Policy regarding the European Commission’s ruling today that the Apple Corporation must pay as much as €13 billion ($14.5 billion) in back taxes due to an illegal tax break granted by the Irish government. “The European Commission action is a chastening […]
ITEP Statement on Illinois Department of Revenue Analysis of House Bill 689
May 4, 2016 • By ITEP Staff
For Immediate Release: May 4, 2016 Contact: Jenice R. Robinson, 202.299.1066 X29, [email protected] Earlier today, the Illinois Department of Revenue (ILDOR) released an economic analysis of the tax changes included in House Bill 689, which would transform the state’s personal income tax from its current flat rate to a graduated-rate system. The following is […]
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