States
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media mention October 5, 2016 Rapid City Journal: SD tax policies model of unfairness
“The non-partisan, non-profit Institute On Taxation And Economic Policy says that in 2015, South Dakota had the fourth most regressive tax system in the United States. Poor and middle-income residents… -
media mention October 4, 2016 Bloomberg: More Than 73% of Fortune 500 Cos. Used Tax Havens in 2015
“More than 73% of Fortune 500 cos. had subsidiaries in offshore tax havens, said the U.S. PIRG Education Fund, Citizens for Tax Justice and the Institute on Taxation and Economic… -
media mention October 4, 2016 San Francisco Chronicle: Trump, Clinton tax plans lack proposals for major reform
“‘They’re not changing the fundemental way we tax incom… it’s really a missed opportunity,’ said Matthew Gardner, executive director of the Institute on Taxation and Economic Policy.” Read more -
media mention October 4, 2016 Think Progress: Undocumented immigrants could teach Trump a few things about paying taxes
“Similarly, a 2016 Institute on Taxation and Economic Policy report found that undocumented workers are a net positive to the economy, contributing roughly $11.64 billion every year, or an average… -
media mention October 4, 2016 CBS Connecticut: Companies Store Trillions In Offshore Accounts
“The study by ConnPirg, the Connecticut Public Interest Research Group, along with the Institute on Taxation and Economic Policy, shows $2.5-trillion squirreled away in offshore accounts.” Read more -
media mention October 4, 2016 WTNH: New report highlights Connecticut companies utilizing tax havens
“Matthew Gardner, a spokesperson for the Institute on Taxation and Economic Policy, explained that the only way for the U.S. to get this tax money back would be to adjust… -
report October 4, 2016 Offshore Shell Games 2016
This study explores how in 2015 Fortune 500 companies used tax haven subsidiaries to avoid paying taxes on much of their income. It reveals that tax haven use is now standard practice among the Fortune 500 and that a handful of the country’s wealthiest corporations benefit the most from this tax avoidance scheme.
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media mention October 3, 2016 Bloomberg BNA: Rubio Introduces Senate Bill to Block IRS Estate Tax Rules
“‘The interesting question is: When does writing regulations amount to enforcing existing laws effectively and when does it amount to codifying new laws?’ said Matthew Gardner, executive director of the… -
media mention October 3, 2016 Politifact: Tom DeLay says most illegal immigrants draw ‘welfare benefits,’ send children to public schools
“Tanya Broder, a staff attorney for the National Immigration Law Center, said by phone that ‘undocumented immigrants have the same tax obligations as any other resident.’ Broder emailed a 2015… -
media mention October 3, 2016 Malay Mail Online: Does Trump pay taxes? Debate triggers new scrutiny
“Matthew Gardner of the Institute on Taxation and Economic Policy told AFP that some analysts suspect real estate moguls regularly generate losses on real estate income to avoid paying taxes… -
report September 30, 2016 Comment Letter to FASB on Income Tax Disclosure
We appreciate the Financial Accounting Standards Board’s (FASB) ongoing review of its accounting standards to ensure that financial statements are “facilitating clear communication of information that is important to financial statement users.” Overall, the changes to disclosure requirements proposed by FASB in the exposure draft would represent a significant step forward toward providing users of financial statements the clarity that they need. We believe, however, that the exposure draft does not go far enough in providing the clarity needed and sought by investors and the public alike.
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media mention September 27, 2016 Bloomberg: Ohio Income Tax Cuts
“The shifting composition of Ohio’s taxes has meant a shift, too, in who pays for state and local government. According to an analysis by the Institute on Taxation and Economic… -
media mention September 27, 2016 Think Progress: Use this guide to fact check Trump during the debate.
“In reality, undocumented immigrants are a net positive to the economy, contributing $11.64 billion into local and state taxes, according to a 2016 Institute on Taxation and Economic Policy report.… -
media mention September 15, 2016 Forbes: “Brown People” Are “Genetically Inferior” Trump Supporter Claims, With No Facts To Prove It
“The Institute on Taxation and Economic Policy, a non-profit, non-partisan think tank, reported that in 2012, undocumented immigrants paid more than $11.6 billion in state and local taxes.” Read more -
media mention September 15, 2016 Bloomberg Government: Trump to Tout Tax Plan’s Growth Benefits Amid Questions of Cost
“Matt Gardner, executive director of the left-leaning Institute on Taxation and Economic Policy, called dynamic scoring a ‘myopic analysis that’s done with a thumb on the scale. The premise is… -
media mention September 15, 2016 The Oklahoman: Flawed alternatives offered by criticis of Oklahoma criminal fees
“This is why, when the Institute on Taxation and Economic Policy analyzed tax systems in all 50 states in 2015, the group found Oklahoma families with annual income of less… -
report September 15, 2016 State Tax Codes as Poverty Fighting Tools
Despite this unlevel playing field states create for their poorest residents through existing policies, many state policymakers have proposed (and in some cases enacted) tax increases on the poor under the guise of “tax reform,” often to finance tax cuts for their wealthiest residents and profitable corporations.
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brief September 14, 2016 Property Tax Circuit Breakers
State lawmakers seeking to make residential property taxes more affordable have two broad options: across-the-board tax cuts for taxpayers at all income levels, such as a homestead exemption or a tax cap, and targeted tax breaks that are given only to particular groups of low- and middle-income taxpayers. One such targeted program to reduce property taxes is called a “circuit breaker” because it protects taxpayers from a property tax “overload” just like an electric circuit breaker: when a property tax bill exceeds a certain percentage of a taxpayer’s income, the circuit breaker reduces property taxes in excess of this “overload” level. This policy brief surveys the advantages and disadvantages of the circuit breaker approach to reducing property taxes.
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brief September 14, 2016 Reducing the Cost of Child Care Through State Tax Codes
Low- and middle-income working parents spend a significant portion of their income on child care. As the number of parents working outside of the home continues to rise, child care expenses have become an unavoidable and increasingly unaffordable expense. This policy brief examines state tax policy tools that can be used to make child care more affordable: a dependent care tax credit modeled after the federal program and a deduction for child care expenses.
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brief September 14, 2016 Rewarding Work Through State Earned Income Tax Credits
The Earned Income Tax Credit (EITC) is a policy designed to bolster the earnings of low-wage workers and offset some of the taxes they pay, providing the opportunity for struggling families to step up and out of poverty toward meaningful economic security. The federal EITC has kept millions of Americans out of poverty since its enactment in the mid-1970s. Over the past several decades, the effectiveness of the EITC has been magnified as many states have enacted and later expanded their own credits.
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brief September 14, 2016 Options for a Less Regressive Sales Tax
Sales taxes are one of the most important revenue sources for state and local governments; however, they are also among the most unfair taxes, falling more heavily on low- and middle-income households. Therefore, it is important that policymakers nationwide find ways to make sales taxes more equitable while preserving this important source of funding for public services. This policy brief discusses two approaches to a less regressive sales tax: broad-based exemptions and targeted sales tax credits.
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media mention September 13, 2016 Investopedia: How Does Amazon Charge Taxes on Its Products?
Technically speaking, Amazon does not charge sales tax because only governments can levy taxes. What Amazon can do is set up processes and systems through which taxes are applied… -
media mention September 13, 2016 AJC.com: Navigate the ins and outs of Social Security and taxes
“State policy on taxation of benefits varies. Twenty-nine states (including the District of Columbia) that have a broad-based income tax exempt all Social Security from tax, according to a tally… -
media mention September 13, 2016 Washington Post:
“‘We should be, shareholders should be, angry that Medtronic has access to as much of the benefits of U.S. citizenship as they do,’ said Matt Gardner, executive director of the… -
media mention September 13, 2016 The Daily Cardinal: Scott Walker to push for new sales tax holiday
“These temporary reprieves from sales taxes don’t do much to help relieve financial burdens, according to a New York Times article. In the article, Meg Wiehe, state tax policy director…