Institute on Taxation and Economic Policy (ITEP)

Citations

ITEP's Citations Research Priorities

Washington Post: Yes, voters ‘deserve to know’ this GOP plan would raise taxes by $1 trillion

March 12, 2022

The bean counters at the Urban-Brookings Tax Policy Center and the Institute on Taxation and Economic Policy ran the numbers on what ITEP called the “only possible interpretation of Sen. Scott’s proposal” (making sure every household pays at least $1 in federal income tax) and found that the Republican plan would raise taxes by $100 […]

McClatchy: Would a gas tax break help drivers save that much money? Here’s what experts say

March 11, 2022

According to the American Petroleum Institute, the federal tax on gas is about 18 cents per gallon. National gas prices average about $4 per gallon as of March 11, according to AAA. “Even if Americans trust companies like Exxon and BP to pass on the full savings of the gas tax holiday to consumers, the […]

Bridge Michigan: Michigan GOP tax cut plan helps wealthy at expense of equity

March 11, 2022

Following is an excerpt from an opEd co-authored by ITEP policy analyst Neva Butkus in Bridge Michigan: At the beginning of 2022, the national Institute on Taxation and Economic Policy (ITEP) forecasted the “tax cut fever” that has been sweeping through state legislatures across the nation — including here in Michigan, with the Legislature’s passage […]

California Budget & Policy Center: California’s Tax & Revenue System Isn’t Fair for All

Californians need quality public health and schools, access to affordable housing and clean water, and safe roads and neighborhoods along with many more services to live and thrive – no matter one’s zip code. Accordingly, the state’s tax and revenue system must raise adequate revenue to cover the services provided by state and local governments and make […]

Truthout: GOP’s Tax Plan Would Raise Taxes by Over $1,000 Annually for Poorest Americans

March 9, 2022

In a report released on Monday, the Institute on Taxation and Economic Policy (ITEP) estimated that the poorest Americans would be the most affected by Scott’s plan — meaning that the GOP’s tax plan would essentially be to tax the poor. The poorest 20 percent of Americans, who make $12,300 a year on average, would […]

Pennsylvania Capital Star: GOP plan would be a tax hike for 35% of Pa. residents

March 9, 2022

The share of households facing tax hikes would vary across states, according to an analysis by the Institute on Taxation and Economic Policy, ranging from a low of about 24 percent in Washington State to high of roughly 50 percent in Mississippi, which is among the poorest states in the country. Read more

Associated Press-Georgia: Tax cut sails through House; findings show big boost to rich

March 9, 2022

But an analysis by the liberal-leaning Georgia Budget & Policy Institute, using modeling by the Institute on Taxation and Economic Policy, shows that 62% of the benefits would go to the top 20% of Georgia tax filers. While the top 1% of Georgia taxpayers, earning more than $575,000 a year, would get 18% of all […]

CNN: Fact-checking Biden’s 2022 State of the Union address

March 2, 2022

Facts First: This needs context. Biden left out a significant word from the prepared text of his speech. The prepared text, which the White House emailed to journalists just before Biden spoke, said that the 55 Fortune 500 companies paid zero dollars last year in federal income taxes. That was indeed the conclusion of a […]

CBS News: Fact check: Joe Biden’s State of the Union address

March 1, 2022

President Biden: “Last year, 55 of the Fortune 500 companies earned $40 billion in profit and paid zero in federal taxes.” Fact check: True. This statistic comes from the Institute on Taxation and Economic Policy (ITEP), a liberal think tank. Across several different industries, the ITEP states there are at least 55 of the “largest corporations in […]

Politifact: States’ Pursuit of Top-Heavy Tax Cuts Is Disconnected from Reality

February 25, 2022

Steve Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy, said that group includes many retirees or people with disabilities who are collecting Social Security benefits, low-income working families, and people who qualify for tax credits or make less than the standard deduction ($12,550 for single filers in 2021, and $25,100 […]

The Guardian: ‘A really bad deal’: Michigan awards GM $1bn in incentives for new electric cars

February 25, 2022

Meanwhile, GM has recorded $70bn in profits since 2010 while taking $8bn in subsidies in recent decades – more than all but one company nationwide. The idea that it needed incentives to invest in Michigan “is absurd”, said Matt Gardner, a senior fellow at the progressive-leaning Institute on Taxation and Economic Policy (ITEP). Businesses report that tax subsidies infrequently […]

New Jersey Policy Perspective: Making New Jersey Affordable for Families – The Case for a State-Level Child Tax Credit

A state-level child tax credit would recognize the unique costs of raising children and the support that most families need to care for their kids and set them up for success. When families can pay for basic expenses and save for their children’s futures, it improves child well-being immediately by reducing key costs like food […]

Yahoo! Finance: Young workers may see $800 more in their tax refunds this year

February 18, 2022

Many young workers may get an extra $820 in their tax refund this year because of the expansion of a key poverty-fighting credit, a new analysis found. The expanded Earned Income Tax Credit (EITC) will reach more than 1 in 3 young adults this year, according to the report from the Institute on Taxation and Economic […]

American Prospect: The Year of the Tax Cut

February 17, 2022

State lawmakers are also pointing to substantial, but temporary, budget surpluses to justify tax cuts, but these surpluses are “deceptive and fleeting,” says Neva Butkus of the Institute on Taxation and Economic Policy (ITEP), a Washington think tank. Twenty-three states lowered their revenue estimates compared to pre-pandemic levels, and 19 states counted delayed fiscal year […]

USA Today: New rules for 2021 taxes may mean bigger refund for young workers, retirees with side jobs

February 16, 2022

More than 1 in 3 young adults – or more than 5 million people – would benefit from this change in the earned income tax credit, seeing an average of benefit $820, according to the Institute on Taxation and Economic Policy, a progressive think tank, which is advocating for a permanent change in the age restrictions. […]

West Virginia Center on Budget and Policy: House Personal Income Tax Cut Plan Largely Benefits Wealthy, Not Fiscally Sustainable

The West Virginia Legislature has introduced a bill to cut and eventually eliminate the state’s personal income tax. The House Finance Committee voted to advance that bill to the House floor with no discussion or questions asked. Like previous attempts to eliminate the state’s income tax, HB 4007 would lead to major revenue losses for the […]

Oklahoma Policy Institute: Strengthening the Grocery Tax Credit Would Provide Fiscally Smart Tax Relief to Working Oklahomans

Oklahoma can effectively eliminate the state and local sales tax on groceries for most low-income families by strengthening the Sales Tax Relief Credit. At a time when many Oklahomans are struggling to put food on the table and are at risk of eviction, a more robust Sales Tax Relief Credit can help put money back into the pockets […]

Democracy Now!: Alabama Amazon Workers Vote in 2nd Union Election as Amazon Dodges $5 Billion in Taxes

February 10, 2022

Meanwhile, a new report found Amazon was able to dodge over $5 billion in federal income taxes in 2021. Amazon reported record revenue of $35 billion last year but benefited from a federal income tax rate of just 6%, thanks to corporate tax breaks. The report was issued by the Institute on Taxation and Economic […]

CNBC: 1 in 3 young adults will see an average $800 tax credit boost this year

February 10, 2022

For the 37% of workers 19 to 24 who are now eligible to receive the credit, the expansion will mean an average boost of $820, according to a study from the Institute on Taxation and Economic Policy. If an individual has no other tax liability, that money will be sent to them in their refund […]

Common Good Iowa: New Income Tax Cuts – a Recipe for Disaster and Inequity

Iowa lawmakers have repeatedly cut taxes over the last three decades in ways that provide the greatest benefits to the highest-income taxpayers while ratcheting down investments that historically made the state attractive to raise a family or do business — including public schools and public health. Now, within months of passing tax cuts that when […]

Idaho Center for Fiscal Policy: HB 436 Tax Cuts Benefit Wealthy Idahoans

The tax cuts proposed in HB 436 would benefit wealthy Idahoans the most. The bill would also collapse the state’s five tax brackets to four, and would lower the income tax rate on the wealthiest tax bracket from 6.5% to 6%. Read more

Idaho Center for Fiscal Policy: Idaho Families Would Benefit From Move to Include More Children in State’s Child Tax Credit

From housing to child care, hard-working Idaho families face high costs in our growing state. Since 2018, Idaho’s tax code has supported families through the state Child Tax Credit (CTC). In the American Rescue Plan Act (ARPA), Congress approved a temporary change to expand the definition of “child” to include 17-year-olds in tax year 2021. […]

Hawai’i Budget & Policy Center: Expanding Economic Opportunity with the Hawai’i EITC

Hawai’i’s working families continue to struggle with the nation’s highest gap between median earnings and the cost of living, and this difficult reality has only been made harsher by the COVID-19 pandemic. In fact, more than a third of Hawai’i households had at least some difficulty paying for their monthly expenses in December of 2021. […]

Arkansas Advocates for Children and Families: Tax Cut Plan Even More Expensive, Skewed Toward The Wealthy

The likely proposal for the long-discussed special session seems to have settled, and its main feature would be to cut the top personal and corporate income tax rates. This disproportionately benefits the wealthy, and the corporate income tax cut will largely be captured by out-of-state shareholders, meaning the revenue will leave the state economy entirely. […]

Wisconsin Budget Project: Tax Shift Would Hike Taxes for People with Low Incomes and Give a Big Tax Cut to the Top 1%

Last month, an influential group of lobbyists released a proposal to raise Wisconsin’s sales tax to 8%, making it the highest state sales tax in the country, and eliminate the state individual income tax, Wisconsin’s biggest source of revenue. The plan would result in the largest tax cuts going to white households, with households of color […]