January 27, 2023
House Republicans want tax changes that experts say would increase inequality and aren’t likely to pass the Senate. In a gridlocked federal landscape, states may hold the key. Read more.
January 27, 2023
During his State of the State address this year, Idaho Gov. Brad Little quoted Lt. Gov. Scott Bedke’s piece of ranch family wisdom. “It won’t be the bad years that put you out of business; it’s what you did in the good years that sets you up for failure or success.” Flush with cash, too […]
January 26, 2023
At its core, the Internal Revenue Service (IRS) is the federal government’s revenue collector and benefits administrator. Yet with Congress inclined to run virtually every function of the government through the tax code in some form, the agency is equivalent to the central processing unit of every electronic device on the planet. Read more.
January 26, 2023
The wealthiest Wisconsin residents already pay a smaller share of their incomes in state taxes than the rest of the population, and replacing the state’s current graduated-rate income tax structure with a flat tax would increase that disparity, a national tax expert says. Read more.
January 26, 2023
Republicans in the House of Representatives appear divided over a proposed national sales tax that would replace income taxes, with Democrats using the issue to attack the GOP. Read more.
January 25, 2023
Imagine this: Instead of paying federal taxes to the IRS, you pay them to your local cafe every time you buy a latte or to your supermarket when you make a grocery run — or to countless other businesses when you make purchases. Read more.
January 25, 2023
From Kansas to Wisconsin to Nebraska, the conversation surrounding a flat tax has picked up as of late, with more state legislators pushing for as much. Read more.
January 20, 2023
Washington state Democrats Sen. Noel Frame and Rep. My-Linh Thai announced legislation Thursday to create a state wealth tax on financial assets in excess of $250 million. They say it could generate an estimated $3 billion per year to fund housing and education, and decrease the tax burden on working-class people. Read more.
January 13, 2023
The IRS is gearing up for another tax season amid a slew of challenges, according to a new report. Most pressing is the need to upgrade its “antiquated” systems and hire more workers to provide better service, a watchdog group within the IRS found. Yet the agency’s leadership also faces another test: repelling the latest […]
January 10, 2023
Now that Kevin McCarthy has finally been elected House speaker, and a new congressional term sworn in, the GOP has already voted on one of its key promises made during last year’s midterm elections: to target the Internal Revenue Service. Read more.
January 10, 2023
State coffers are overflowing, but inflation could put a pinch on spending plans and tax cuts. The labor market remains tight just when the demand for more teachers is skyrocketing. And then there are the ongoing culture wars. Welcome to 2023. Read more.
January 4, 2023
More states are slashing or eliminating taxes, lessening the burden mostly for the wealthy. What does that cost the rest of us? Read more.
January 3, 2023
If you raised children during the pandemic, you probably remember something remarkable: getting checks in the mail, every month, from the federal government. The expanded child tax credit provided a few hundred dollars to help pay for your son’s braces or your daughter’s ballet lessons — or to ease the stress over whether you had […]
January 3, 2023
A preliminary review of the thousands of pages of Donald Trump’s tax returns released by a key congressional committee on Friday confirms that the former president was using business losses in the tens of millions of dollars to reduce his annual tax liability, in some cases all the way down to zero. Read more.
January 2, 2023
We would do well to remember the millions of families in New York that were already experiencing the storms of poverty, inequality and policy violence, not to mention those who have nowhere safe to celebrate the holidays. Read more.
January 2, 2023
This time of year, we find ourselves touched by the generosity, grace and kindness of people helping people. Extending ourselves to others reveals the best of who we are as humans, and that emerges so clearly during the holiday season. Yet as moved as I often am by the ways people show up for each […]
December 24, 2022
The government spending bill that was just passed through the Senate and awaits approval from Congress is estimated to total nearly $1.7 trillion. While it will fund a variety of initiatives like aid to Ukraine and enhanced retirement savings, it will not extend “accelerated depreciation” tax breaks, which were initiated during the Trump administration and seen by […]
December 20, 2022
The child tax credit has been available at the federal level since 1997. Before 2021, families were able to take advantage of a $2,000 credit per child. Under the American Rescue Plan, the credit was expanded to $3,000 per child between the ages of 6 and 17, and $3,600 for every child under 6 years […]
December 15, 2022
Lawmakers in Connecticut, New York and several other states want to expand tax breaks for families with children next year, inspired by a 2021 federal tax credit that dramatically reduced child poverty. Read more.
November 23, 2022
The IRS is sanctioning state laws allowing rich Americans to bypass the SALT cap and avoid billions in taxes, but a new Biden nominee could end the scheme. Read more.
November 23, 2022
Child poverty in the U.S. hit a record low last year, according to the U.S. Census Bureau, in part due to the American Rescue Plan Act’s expansion of the federal child tax credit. While the initiative expires at the end of 2021, states could continue the trend with their own child tax credit policies, a new […]
November 23, 2022
Voters in Massachusetts just ratified the Fair Share Amendment, which taxes income above $1 million to fund public services. A broad coalition of labor and community groups took on billionaire money and won. Read more.
November 23, 2022
Certain tax credits were made temporarily more generous in 2021. For certain people, there still may be time to claim the money, which may add up to thousands of dollars — but some politicians aren’t happy the IRS just reminded Americans about the cash. Read more.
November 11, 2022
Wealth inequality is at mind-boggling levels in Oregon and elsewhere. Listen to Research Director Carl Davis talk about the trends here.
Members of the media rely on ITEP for analysis and insight about how tax policies affect people. If you’re a reporter looking to talk to one of our experts, contact Jon Whiten at [email protected].