News Releases

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).

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, […]

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.

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 […]

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.

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.

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 […]

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 […]