ITEP Work in Action

Updated StayNJ senior tax cut proposal would still send the biggest benefits to already-wealthy households. Read more.

A new House Republican proposal would cut business taxes, expanding the primary cause of the nation’s increasing debt ratio. Read more.

The Ohio Senate has voted to weaken the state’s fiscal foundations in order to hand out billions of dollars to wealthy households. The changes to the state’s personal income taxes, currently included in the Senate’s version of the budget bill, will disproportionately benefit the rich, they will lead to temporary tax increases on some middle-income […]

An analysis by the Institute on Taxation and Economic Policy determined that should this package become law, Americans at the bottom 20 percent of income levels would receive an average tax cut of $40 next year, but the richest one percent would receive an average $16,550 tax cut. Read more.

This is the most ill-considered piece of legislation that I’ve witnessed in years in front of this committee. Just 10 days after our Republican colleagues were prepared to bring the nation to the brink of default to the precipice, if not over the edge, they now come back with a tax cut. Read more.

Housing affordability is one of the most pressing challenges facing New Jersey, but not all policies aimed at making the state affordable are equally effective, efficient, or equitable. When evaluating new proposals and changes to the tax code, it’s critical to consider who stands to benefit, by how much, and who is left behind. In […]

Black and Hispanic Americans are less financially prepared for retirement than their white counterparts for multiple reasons. Participants at the 2023 Pension Research Council Symposium grappled with the underlying causes and suggested reforms. Read more.

With no budget compromise yet from the Virginia General Assembly, $1 billion in untargeted tax cuts that mostly benefit the wealthy and profitable corporations are still on the table. Read more.

Ohio’s leaders can use the tax system to increase economic stability for every family in the state. The Earned Income Tax Credit (EITC) is a proven, powerful tool to do just that. In 2021, the federal EITC lifted about 5.3 million people above the poverty line, including nearly 3 million children. Read more.

The NC Senate tax plan will double down on the path to zero income tax — keeping in place the elimination of the corporate income tax and reducing the personal income tax to 2.49 percent after 2029 — to benefit the very wealthy and profitable corporations. Read more.

A new report from the Institute on Taxation and Economic Policy (ITEP) predicts that making permanent the temporary provisions of the 2017 Tax Cuts and Jobs Act (TCJA) will cost nearly $290 billion in 2026. H.R. 976, the TCJA Permanency Act, would permanently enshrine the portions of the TCJA that were set to expire in 2025. In Arizona, […]

Lawmakers have proposed a variety of tax cuts, some of which would provide outsize benefits to the most affluent households and widen existing racial and economic disparities. Other proposed tax changes would make the Commonwealth more equitable by targeting benefits to lower-income households who need them the most. Read more.

According to a report released today by the nonpartisan Congressional Budget Office (CBO), extending the Trump tax cuts would add $3.5 trillion to the deficit through 2033. Read more.

With less than two weeks left in the 2023 legislative session, lawmakers have very little time remaining to reach agreement on, reveal, and adopt the Fiscal Year 2024 state budget. Bills that would change tax policy are typically unveiled as part of the budget package. Though they have not yet been introduced, this year’s budget […]

The Legislature on Wednesday and Thursday will consider property tax breaks and corresponding income tax cuts that together would restrict the revenue that’s available to fund important programs that all Nebraskans rely on for years to come. Read more.

The written testimony of ITEP Executive Director Amy Hanauer is below the embedded video of the hearing. Dear D.C. Tax Revision Commission,  Thank you for inviting me to testify last week on the research of my colleagues at the Institute on Taxation and Economic Policy. We’re grateful to have our perspective included and as a […]

The proposed changes to the state’s personal income tax in the House substitute budget bill are another blow to Ohio’s only tax that is based on the ability to pay, weakening the public programs, institutions, and supports that make the state strong. Read more.

Wealth inequality in the US is more extreme and dangerous than income inequality; and we need to change our approach, so we effectively tax wealth as well as income. We offer five reasons why a wealth tax makes sense. Read more.

On April 12, ITEP Executive Director Amy Hanauer joined Bloomberg Government’s 2023 State Policy Breakfast to discuss current legislative trends and developments in State Houses across the country. You can watch the video here.  

For a video of Marco’s testimony, click here. Thank you, Assemblywoman Anderson, and thank you chairman and members of the Assembly for the opportunity to speak on the topic of Nevada’s state tax system. My name is Marco Guzman, and I am a Senior State Policy Analyst with the Institute on Taxation and Economic Policy […]

Oregon can clamp down on multinational corporations shifting profits overseas, create a more level playing field for Oregon businesses, and raise millions in revenue by enacting “complete reporting” by large corporations. Read more.

With $10.8 billion in recurring revenue and at least $1.6 billion in one-time funds, the Oklahoma Legislature has significant fiscal decisions to make this session. Oklahoma leaders have repeatedly stated their intentions, including House Speaker Charles McCall who wants to provide “inflation relief” and Gov. Kevin Stitt who heralds a commitment to “fiscal discipline.” However, most of […]

This general assembly has the good fortune of budgeting in a time of surplus. Smart federal policy drove cash to people and businesses so when the worst of covid passed, the economy could rebound. The federal government has also sent crisis dollars to states, propping up potential shortfalls and funding major investments in many areas […]

We all want to live in a state with great schools, well-maintained infrastructure, thriving communities, and strong families. But Arkansas’s Governor and many legislative leaders have expressed their support for sharply cutting – or even eliminating – our personal income tax, which would undermine our ability to ever achieve this goal. Read more.

New analyses of the elimination of New Hampshire’s Interest and Dividends Tax show that the reduction in tax revenue disproportionately benefits individuals and households with high incomes while significantly reducing revenues available for public services. Read more.