Florida
GOP-Trump Tax Framework Would Provide Richest One Percent in Florida with 68.2 Percent of the State’s Tax Cuts
October 4, 2017 • By ITEP Staff
The “tax reform framework” released by the Trump administration and congressional Republican leaders on September 27 would not benefit everyone in Florida equally. The richest one percent of Florida residents would receive 68.2 percent of the tax cuts within the state under the framework in 2018. These households are projected to have an income of at least $620,400 next year. The framework would provide them an average tax cut of $130,300 in 2018, which would increase their income by an average of 4.7 percent.
In Florida 56.3 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
August 17, 2017 • By ITEP Staff
A tiny fraction of the Florida population (0.7 percent) earns more than $1 million annually. But this elite group would receive 56.3 percent of the tax cuts that go to Florida residents under the tax proposals from the Trump administration. A much larger group, 53.1 percent of the state, earns less than $45,000, but would receive just 3.8 percent of the tax cuts.
Florida Policy Institute: The Growing Divide: Federal Tax Plan Would Give Massive Tax Cuts to Wealthy Floridians as the Poorest Americans Continue to Struggle
July 21, 2017
The federal tax plan broadly outlined by the current administration would do very little to create opportunities for Floridians struggling to make ends meet. Instead, the tax plan would provide massive tax cuts for Florida’s highest income earners, accordingly to a recent report by the Institute on Taxation and Economic Policy (ITEP). Broadly outlined, the plan is likely to make an already unfair tax system that favors the wealthy even worse.
Trump Tax Proposals Would Provide Richest One Percent in Florida with 60.4 Percent of the State’s Tax Cuts
July 20, 2017 • By ITEP Staff
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Florida would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $2,797,700 in 2018. They would receive 60.4 percent of the tax cuts that go to Florida’s residents and would enjoy an average cut of $193,570 in 2018 alone.
Florida Policy Institute: New Report Finds Shortcomings in Florida’s Scholarship Tax Credit Program
May 19, 2017
State tax policies are undermining high-quality public education by redirecting public dollars for K-12 education toward private schools via tuition tax credits, according to a new report published by the Institute of Taxation and Economic Policy (ITEP) and the School Superintendents Association (AASA). In the case of Florida, the scholarship tax credit program failed to […]
Investors and Corporations Would Profit from a Federal Private School Voucher Tax Credit
May 17, 2017 • By Carl Davis
A new report by the Institute on Taxation and Economic Policy (ITEP) and AASA, the School Superintendents Association, details how tax subsidies that funnel money toward private schools are being used as profitable tax shelters by high-income taxpayers. By exploiting interactions between federal and state tax law, high-income taxpayers in nine states are currently able […]
Public Loss Private Gain: How School Voucher Tax Shelters Undermine Public Education
May 17, 2017 • By Carl Davis, Sasha Pudelski
One of the most important functions of government is to maintain a high-quality public education system. In many states, however, this objective is being undermined by tax policies that redirect public dollars for K-12 education toward private schools.
Florida Policy Institute: Florida’s Shadow Budget Needs Greater Scrutiny
February 2, 2017
Silent spending, in the form of numerous kinds of tax breaks, costs Florida billions of dollars in lost revenue a year. Unlike money spent through the state budget process, this “shadow budget” is not routinely examined to see if it is meeting worthwhile goals or promoting a stronger economy. This is money that is spent […]
Florida Policy Institute: A Citizens Guide to Florida’s Budget
February 2, 2017
Florida is known worldwide as a vacation destination, but those of us who live here know that the way Florida takes in and spends money affects every aspect of our lives. From now until 2030, people age 60 and older will account for most of Florida’s population growth, representing 56.9 percent of the gains. Adequate […]
Governing: Back-to-School Tax Holidays Losing Popularity Among Lawmakers
August 30, 2016
“[Tax holidays] don’t help lower-income people much either, according to the left-leaning Institute on Taxation and Economic Policy (ITEP).” Read more
Florida Times Union: Tonyaa Weathersbee: Broken promises are a reason to vote no on pension sales tax
August 25, 2016
“According to a 2015 report by the Institute on Taxation and Economic Policy, a nonprofit, non-partisan research organization that examines issues of tax fairness and sustainability, Florida has the second most regressive tax structure in the nation.” Read more
Tallahassee Democrat: I am undocumented and I pay my taxes
April 19, 2016
“The Institute on Taxation and Economic Policy recently estimated that state and local tax revenues would increase by an additional $805 million each year if President Obama’s immigration actions are implemented. The same report found that the 11 million undocumented immigrants who reside in the country contribute $11.64 billion in state and local taxes per […]
Sun Sentinel: Prosperous but Undocumented
April 15, 2016
“Of the nation’s estimated 11 million undocumented immigrants, about 1 million are professionals, according to a report from Migration Policy Institute, a nonpartisan think tank based in Washington, D.C. In Florida, about 79,000 professional people are undocumented immigrants.” Read more
Low Tax for Whom?: Florida is a “Low Tax State” Overall, But Not for Families Living in Poverty
September 17, 2015 • By Meg Wiehe
Annual data from the U.S. Census Bureau appear to lend support to Florida's reputation as a "low tax state," ranking it 48th nationally in taxes collected as a share of personal income.1 But focusing on the state's overall tax revenues has led many observers to overlook the fact that different taxpayers experience Florida's tax system very differently. In particular, the poorest 20 percent of Florida residents pay significantly more of their income (12.9 percent) in state and local taxes than any other group in the state. For low-income families, Florida is far from being a low tax state.2 In fact,…
Slate: Don’t Fall for Back-to-School Tax Holidays
August 14, 2015
If shoppers are simply shifting their spending to save on taxes, that means the states are losing revenue. That’s certainly the position of the Institute on Taxation and Economic Policy, a nonpartisan think tank that estimates the popular break will cost the states offering it $300 million this year. “Revenues lost through sales tax holidays […]
TJC News: State Sales Tax Holiday Begins Friday
August 7, 2015
“Paying more to skip the crowds is a back to school shopping strategy some embraced Thursday before the start of the Texas Sales Tax Holiday weekend. A few examples of exempt items include clothing, shoes, school supplies, backpacks, computers, printers, bedspreads and linens. According to the Institute on Taxation and Economic Policy, sales-tax holidays cost […]
Sun Sentinel: Businesses Getting Bigger Breaks to Move or Expand
July 20, 2015
Broward and Palm Beach counties have awarded millions of taxpayer dollars for company relocations or expansions in recent months, including two major deals completed in just the past two weeks. Critics contend that the amount of money spent to lure employers is out of line. A 2013 report by the Institute on Taxation and Economic […]
Cheat Sheet: 10 Worst States in America for Fair Tax Systems
July 13, 2015
Americans generally believe that higher income households should pay a greater percentage of their incomes in taxes than lower income households. Yet the exact opposite occurs. The Institute on Taxation and Economic Policy (ITEP) finds the nationwide average effective state and local tax rates by income group are 10.9% for the poorest 20% of individuals […]
Washington Post: States are Racing to See Who Can Give Rich People a Bigger Tax Break on Their Yachts
June 22, 2015
It’s true that lower taxes might bring new customers into the market, which would be great for the yacht industry. Yet every dollar spent on new boats is a dollar that a rich customer isn’t spending on something else. Favoritism for yacht manufacturers and dealers helps them only at the expense of all the other […]
Integrity Florida: Subsidizing Corporate Tax Dodgers
April 21, 2015
Thanks to the data provided by CTJ/ITEP, Integrity Florida found that all of the profitable Fortune 500 corporations headquartered in Florida paid state governments in the U.S. on average a lower corporate profits tax rate than Florida’s 5.5 percent rate between 2011 and 2013. Most of these corporations have received taxpayer-funded subsidy deals and government […]
Florida Center for Fiscal and Economic Policy: Tax Fairness: An Answer to Florida’s Budget Problems
March 12, 2015
“The Institute on Taxation and Economic Policy ranks Florida as having the second most unfair (or “regressive”) tax system in the nation. High‐income residents pay a far smaller share of their income in state and local taxes than middle class residents. The high‐income one percent of Floridians pay just 1.9 percent of their income in […]
Palm Beach New Times: Florida Has the 2nd Least Fair Tax System in the Nation
February 4, 2015
A big selling point to convincing people to move to the Sunshine State has always been that Florida has no state income tax. And that’s true. But the reality is that Florida ranks at the very bottom when it comes to the fairest taxes in the U.S. This means that the poorest of those living […]
Sunshine State News: Florida taxes second-most regressive in US
January 16, 2015
“Florida’s tax system poses a larger burden on poorer residents than almost any other state, according to a report released Wednesday by policy researchers at the Institute on Taxation and Economic Policy. In its “Who Pays?” report, ITEP found Florida’s to be the second-most regressive tax system, after the state of Washington.”
The Tampa Bay Times: Florida taxes second-most regressive in US
January 16, 2015
Florida’s tax system poses a larger burden on poorer residents than almost any other state, according to a report released Wednesday by policy researchers at the Institute on Taxation and Economic Policy. In its “Who Pays?” report, ITEP found Florida’s to be the second-most regressive tax system, after the state of Washington. “Florida’s tax […]
Sun Sentinel: Florida’s taxes weigh heaviest on poor, study says
January 16, 2015
“Individuals and families at the bottom fifth in income in Florida pay 13 percent of their income in state and local taxes, while the state’s top 1 percent pay only 2 percent, said the Institute on Taxation and Economic Policy, a nonpartisan research group based in Washington, D.C. The institute studies tax issues in an […]
