Institute on Taxation and Economic Policy

States

Pharos-Tribune: Immigrants bring immense value to America

October 14, 2016

“And though there are competing analyses about whether unlawfully present immigrants contribute more to the economy than they cost in education and health expenses, what cannot be denied is that, according to the nonpartisan Institute on Taxation and Economic Policy, illegal immigrants contribute more than $11.6 billion to state and local coffers each year and […]

WTOK News Center: Mississippi tax code getting scrutiny

October 14, 2016

“But check out a chart from the Institute on Taxation and Economic Policy. It’s all about state and local taxes. On one end is the lowest income families in the state. The wealthiest are at the other. The less you make, the bigger percentage of your income that’s going to taxes.” Read more

The Middletown Press: Several big Connecticut firms keep offshore subsidiaries for tax purposes

October 14, 2016

“The report, Offshore Shell Games, was compiled by the U.S. Public Interest Research Group, the Institute on Taxation and Economic Policy, and Citizens for Tax Justice.” Read more

CBS News: Is your state next to raise its gas tax?

October 14, 2016

“’There has been a lot of procrastination,’ said Carl Davis, research director of the Institute on Taxation and Economic Policy.  ‘It’s an issue that the states cannot put off any longer. There are 21 states which have gone a decade or more since the last time they increased their gas tax rate. These states have […]

DJournal: Mississippi’s poor pay more in taxes

October 13, 2016

“‘The state’s low- and middle-income earners paid nearly double the percentage of their income in taxes compared to the state’s highest income families,’ Donovan wrote in a report compiled for the legislators, basing her findings on a 2015 study by the Washington, D.C.-based Institute of Taxation and Economic Policy.”

report  

State Tax Subsidies for Private K-12 Education

October 12, 2016 • By Carl Davis

This report explains the workings, and problems, with state-level tax subsidies for private K-12 education. It also discusses how the Internal Revenue Service (IRS) has exacerbated some of these problems by allowing taxpayers to claim federal charitable deductions even on private school contributions that were not truly charitable in nature. Finally, an appendix to this report provides additional detail on the specific K-12 private school tax subsidies made available by each state.

Bloomberg BNA: U.S. Lags Behind Most OECD Countries in Tax System

October 11, 2016

“But the report is ‘a pretty incomplete view’ of a good tax system, because it glosses over the idea that the main goal should be raising money for public investments, Matthew Gardner, executive director of the Institute on Taxation and Economic Policy, told Bloomberg BNA.” Read more

International Business Times: Corporations Avoid Taxes By More Than The GDP Of France

October 11, 2016

“‘To put that in context, it is an amount larger than the GDP of France,’ said Clark Gascoigne, the deputy director of FACT, a coalition that includes Citizens for Tax Justice (CTJ), the Institute on Taxation and Economic Policy (ITEP), and the U.S. Public Interest Research Group (PIRG) Education Fund.” Read more

The Huffington Post: The Latino Contributions to New York

October 11, 2016

“According to the Institute on Taxation and Economic Policy, undocumented immigrants pay $11.6 billion in state and local taxes every year at an average rate of 8 percent, a significantly higher rate than the 5.4 percent rate, at which the top 1 percent earners pay annually.” Read more

Bloomberg BNA: S&P Global Says Repatriation Plan Could Jump-Start Overhaul

October 11, 2016

“’You can never know what infrastructure investment means,’ said Gardner, executive director of the Institute on Taxation and Economic Policy. ‘You can’t know that you’re changing anybody’s investment behavior. You can never know if it works.’” Read more

Herald-Standard: Immigration rights advocate says next president will have to address issues

October 11, 2016

“A report from the Institute on Taxation and Economic Policy (ITEP) published February revealed undocumented immigrants paid $11.6 billion in state and local taxes in 2013.” Read more

The Royal Gazette: Strange tale of sneakers and tax havens

October 11, 2016

“The report, prepared by Citizens for Tax Justice, the Institute on Taxation and Economic Policy and US Public Interest Research Group Education Fund, said that most of America’s biggest companies have subsidiaries in ‘tax havens’.” Read more

Open Secrets: Trump’s tax losses, and the political power of real estate

October 11, 2016

“’The potential tax benefits can far outstrip the expense’ of making campaign contributions, said Matthew Gardner, executive director of the nonpartisan Institute on Taxation and Economic Policy. ‘It’s an incredibly good investment. We all know very well that a million dollar political investment can yield a much larger tax break.’” Read more

Think Progress: Opposition to Washington’s historic carbon tax initiative is coming from the unlikeliest of sources

October 11, 2016

“To Bauman and his colleagues at CarbonWA, the initiative seemed like a win-win, something that would drive down carbon emissions while moving Washington’s notoriously regressive tax code — the worst in the entire country, according to the Institute on Taxation and Economic Policy — forward.” Read more

Crooks and Liars: US Corporate Tax Dodgers Hiding More Money Than The GDP Of France

October 11, 2016

“‘Multinational corporations’ use of tax havens allows them to avoid an estimated $100 billion in federal income taxes each year,’ says a new report just released by Citizens for Tax Justice (CTJ), Institute on Taxation and Economic Policy (ITEP) and U.S. Public Interest Research Group Education Fund (U.S. PIRG).” Read more

Don’t Mess With Taxes: IRS now accepting ITIN renewal applications

October 11, 2016

“State and local governments collect more than $11.6 billion a year from undocumented immigrants, according to the Institute on Taxation and Economic Policy (ITEP) update of its 50-state study.” Red more: 

CT News Junkie: Report Highlights Practice of Offshore Tax Havens

October 11, 2016

“The report, Offshore Shell Games, was compiled by the U.S. Public Interest Research Group, the Institute on Taxation and Economic Policy, and Citizens for Tax Justice.” Read more

Motion Picture Editors Guild: Large Companies Owe Hundreds of Billions in US Taxes, Report Says

October 11, 2016

“In 2015, the Fortune 500 companies avoided paying taxes on $2.5 trillion in accumulated profits held offshore, according to the study by the Citizens for Tax Justice, US PIRG Education Fund, and the Institute on Taxation and Economic Policy. Thirty of these companies accounted for $1.65 trillion (66%) of these offshore profits.” Read more

Bloomberg BNA: $718 Billion in Taxes Lost in 2015 to Offshore Profits

October 5, 2016

“The company that made the most in offshore profits in 2015 was Apple Inc. with $214.9 billion in earnings, according to “Offshore Shell Games,” by the U.S. PIRG Education Fund, Citizens for Tax Justice, and the Institute on Taxation and Economic Policy. The company would owe $65.4 billion in U.S. taxes if these profits weren’t […]

The Hill: Companies eyeing banks’ help with Treasury’s debt-equity rules

October 5, 2016

“But if Treasury exempts banks and other heavily regulated industries under section 385, it would ‘eviscerate’the department’s goal in clamping down on earnings stripping, warned Matthew Gardner, executive director of the Institute on Taxation and Economic Policy. Financial companies are ‘heavy users of offshore tax haven subsidiaries,’ he added.”

Salon: Donald Trump’s tax returns show the American tax code favors the rich

October 5, 2016

“’The real estate [loophole] is a pretty clear and, I think, pretty potent example of a tax break where middle-income Americans look at it and just say, “Well, this doesn’t do anything, this is basically inapplicable to me,”’ said Matthew Gardner, executive director of the Institute on Taxation and Economic Policy. ‘It’s legal; it probably […]

NPR: Corporate Profits Take Permanent Vacation In Caymans And Bermuda

October 5, 2016

“Matt Gardner, executive director of the Institute on Taxation and Economic Policy, is one of the study’s authors. He says: ‘In many tax havens, it’s easier to set up a subsidiary than it is to get a library card. Very often there is little asked of the company in terms of who owns it [and] […]

AppleInsider: Study claims Apple avoided paying $65.08B in US taxes through offshore arrangements

October 5, 2016

“The sums made Apple the biggest avoider of corporate taxes in the U.S., said Citizens for Tax Justice and the Institute on Taxation and Economic Policy, quoted by the U.K.’s Daily Mail. The organizations noted however that three quarters of Fortune 500 companies used offshore tax havens, cumulatively funneling $2.42 trillion and dodging $715.62 billion […]

IOL: Apple named biggest tax avoider in US

October 5, 2016

“It also revealed that in 2015 three quarters of the Fortune 500 firms – the largest corporations in America – hold £1.9 trillion of income in offshore tax havens. This amounted to £561.9 billion in American tax that they avoided paying. The study, by pressure group Citizens for Tax Justice and the Institute on Taxation […]

Tucson Weekly: What is ‘The Tax Foundation,’ and Why Does It Rank Arizona 21st in Tax Policies?

October 5, 2016

“A more liberal-leaning group, the Institute on Taxation and Economic Policy, has a different take on Arizona’s tax structure. It comes close to agreeing with the Tax Foundation on the ranking of Arizona’s combined state and local taxes. ITEP has us the 35th highest, the same as being the 15th lowest—which is in the same […]