Florida

While tax discussions among federal lawmakers continue in fits and starts, major tax news continues to make waves across the nation...

President Biden's latest budget plan includes proposals that would raise $2.5 trillion in new revenue. While many of these reforms appeared in his previous budget, some of them are brand new, such as his proposal to prevent basis-shifting in partnerships and his Billionaires Minimum Income Tax.

One of the most surprising trends this legislative session is that conservative leaders and the business community joined with progressive advocates to oppose income tax repeal plans. There is a general consensus that income tax repeal is a step too far.

Rising gas prices have lawmakers around the country searching for ways to ease the pressure on consumers and almost half the states are considering reducing or temporarily repealing their gas tax, but another idea is taking hold...

“Billionaires are getting richer, and some of them are altogether avoiding taxes or paying a tiny percentage relative to their income and wealth. The 2017 tax law further worsened inequality by giving huge tax breaks to the rich. It’s inconceivable that a lawmaker would propose to single out the most vulnerable households for higher taxes.” --Steve Wamhoff

A proposal from Sen. Rick Scott would increase taxes for more than 35% of Americans, with the poorest fifth of Americans paying 34% of the tax increase.

ITEP is happy to announce the launch of our new State Tax Watch page, where you can find out about the most up-to-date tax proposals and permanent legislative changes happening across the country...

Since last year, multiple states across the country have proposed or are pursuing costly income and other tax cuts that are heavily tilted toward the highest-income households. State advocates have worked to beat back these proposals and sounded the alarm about the long-term consequences of tax cuts, but legislatures (most GOP-led) continue to introduce and approve top-heavy and permanent tax cuts. This state tax-cut fervor took center stage last night when Gov. Kim Reynolds of Iowa gave the Republican response to President Biden's SOTU address.

Sen. Scott and others who favor shifting taxes away from the rich and down the income distribution often focus solely on the federal personal income tax and ignore all the other taxes that Americans pay.

State lawmakers have been busy working out deals and negotiating how best to use excess revenues, and as the votes are beginning to come in, spending priorities are becoming clearer...

One-time payments have become a common theme around the country, as Idaho is one of roughly eleven states with plans to provide tax relief in a similar fashion...

As expected, with the start of many new legislative sessions around the country, lawmakers have introduced a slew of tax cut plans following better-than-expected budget outlooks that have, so far, weathered the impact of the pandemic...

The new year often brings with it a reinvigorated commitment to new goals and a fresh perspective on how to accomplish them, but it seems like lawmakers in states around the country are giving up already...

As the holiday season kicks into full gear, we’re putting the finishing touches on our State Tax Naughty or Nice list, and it looks like some late entrants are making a good case to be included...

Here at ITEP we want to give thanks and say we’re grateful for all of the hard work that advocates in states across the country are doing to secure progressive tax policy victories...

Covid-19 dramatically altered how and where many employees work, a shift that could have a long-term negative effect on commercial real estate occupancy rates and, ultimately, on local governments’ tax revenue base, a new study reveals.  The Impact of Work from Home on Commercial Property Values and the Property Tax in U.S. Cities concludes that even as the recovery strengthens, if […]

The fiscal implications of a decline in commercial property values are important because the property tax is the dominant local source of taxes, and commercial property makes up a significant portion of the property base in cities.

The end of Spooky Season is near but that hasn’t stopped state lawmakers from adding their frightening plans into the bubbling cauldron of bad tax policy ideas...

One of the few industries to excel during the economic downturn brought on by the pandemic has been the marijuana business, and lawmakers around the country are taking notice as they try to ensure that sales in their state are both legal and subject to tax...

Floridians who are paid lower wages spend significantly more of their income on state and local taxes than those with high income. This is because the state lacks a personal income tax and relies mostly on the sales tax to raise revenue. The state’s upside-down tax code also exacerbates racial inequity because Floridians with low […]

We asked New York state resident Morris Pearl, former Blackrock executive and current chair of the Patriotic Millionaires, a few questions to hear straight from the mouth of a millionaire how the SALT cap and its proposed repeal would affect his life.

History has repeatedly shown that such policies harm state economies, dismantle basic public services, and exacerbate tax inequities.

Policymakers tout sales tax holidays as a way for families to save money while shopping for “essential” goods. On the surface, this sounds good. However, a two- to three-day sales tax holiday for selected items does nothing to reduce taxes for low- and moderate-income taxpayers during the other 362 days of the year. Sales taxes are inherently regressive. In the long run, sales tax holidays leave a regressive tax system unchanged, and the benefits of these holidays for working families are minimal. Sales tax holidays also fall short because they are poorly targeted, cost revenue, can easily be exploited, and…

States were busy over the past week despite the Fourth of July holiday. Many are gearing up for upcoming tax and budget clashes that could shape their futures for some time...