Institute on Taxation and Economic Policy

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CNET: New Child Tax Credit Could Give Your Family A Bonus Check Every Month For A Year. What To Know

February 10, 2021

For the bottom 20% of families in terms of income, the proposed expansion of the CTC would increase income by an average of 9.7% — even higher if you only consider tax filers with children, according to the Institute on Taxation and Economic Policy. The proposal would also lift 4.1 million children above the poverty line, […]

Fatherly: This Chart Reveals How Much Money Families Will Get From Stimulus Package

February 10, 2021

It’s a genuine anomaly in American welfare policy, and a true sign that American politics is changing. But exactly how much money folks at different income levels can expect to receive is a complicated question, and it’s one that has been answered. Luckily, the Institute on Taxation and Economic Policy has a staff of people […]

Washington Post: The Pandemic Hit Undocumented Restaurant Workers Hard. These Bartenders Swooped in to Feed Them.

February 10, 2021

Of the 11 million undocumented immigrants in the country, many are cumulatively paying billions of dollars each year to state and local taxes, according to the nonpartisan Institute on Taxation and Economic Policy. Some file taxes under an individual taxpayer identification number in hopes that one day it will help their case in gaining legal status. […]

Forbes: Democrats’ Stimulus Priorities Would Boost Income By 33% For Poorest Americans

February 10, 2021

Amid fierce debate among liberal economists over the size of the next federal stimulus bill, a new analysis from the left-leaning Institute on Taxation and Economic Policy found that three of Democrats’ anti-poverty initiatives in the draft legislation—another round of direct payments and major expansions of the child tax credit and the earned income tax […]

AccountingToday: Immigration Reform Taxes Could Help States with Post-COVID Recovery

February 10, 2021

The Institute on Taxation and Economic Policy, a nonprofit, nonpartisan think tank, proposed that states and localities can significantly increase revenue collection by legalizing undocumented immigrants. According to an ITEP report, undocumented immigrants collectively pay an estimated $11.64 billion in taxes a year. The state of California, home to more than 3 million undocumented immigrants, collects […]

Business Insider: The Poorest Americans Can Expect to See a 33% Income Boost with Stimulus Checks and Tax Credit Expansions, New Report Finds

February 10, 2021

The poorest 20% of Americans can expect to see a nearly 33% boost to their incomes with key Democratic stimulus provisions of $1,400 stimulus checks, and the expansion of child tax credits and the Earned Income Tax Credit. In a report released on Tuesday by the Institute on Taxation and Economic Policy — a nonpartisan […]

Law360: NY Gov.’s Pot Tax Proposal Unique, Tax Group Says

February 9, 2021

A potency-based cannabis tax proposal by New York’s governor would bring in more sustainable revenue to the state if passed, Institute on Taxation and Economic Policy said on Tuesday. Read more

YahooFinance: Democrats Propose Leaving Out High Earners from Stimulus Checks and Trimming Jobless Benefits

February 9, 2021

Under Biden’s initial ‘American Rescue’ proposal, high-income households making $247,400 to $601,700 would get an average payment of $930 compared with a $280 payment for the same group under the House Democrats’ new plan, according to an analysis by the Institute on Taxation and Economic Policy. Read more

Forbes: Biden Says He Supports $75,000-A-Year Threshold For Full $1,400 Stimulus Checks

February 9, 2021

An analysis from the left-leaning Institute on Taxation and Economic Policy found that proposals in the Democratic bill would boost income for the poorest Americans by around 33%. Read more

Washington Post: Here’s the New Democratic Plan for $1,400 Stimulus Payments

February 9, 2021

The best argument in favor of the checks is that they have kept many Americans out of poverty during the crisis. An analysis by the left-leaning Institute on Taxation and Economic Policy found that the bottom 20 percent of Americans — those earning less than $21,300 — would see their income rise nearly 30 percent, helping keep […]

Tampa Bay Times: Florida Should Close Tax Loopholes for Corporations | Column

February 9, 2021

Because of its lopsided reliance on sales tax — which forces poorer people to pay a larger share of their income in taxes than richer people — Florida has one of the most unequal tax structures in the country, according to the nonpartisan Institute on Taxation and Economic Policy. The poorest 20 percent of Florida […]

The Fiscal Times: Poorest Americans Would Get Major Income Boost From Covid Relief Bill: Report

February 9, 2021

Three provisions in the legislation released this week by the House Ways and Means Committee would provide a 33% income boost on average for the poorest 20% of Americans, according to an analysis by the left-leaning Institute on Taxation and Economic Policy. Read more

Wall Street Journal: Amazon’s U.S. Tax Costs Jumped in 2020. It Likely Would Pay Even More Under Biden Plan.

February 5, 2021

Amazon’s low reported tax expenses in earlier years, along with similar figures from other companies, helped spur Democratic proposals for minimum taxes that would affect them. “Half a loaf is better than none,” Matt Gardner, senior fellow at the left-leaning Institute on Taxation and Economic Policy, said of Amazon’s higher tax costs for 2020. However, […]

Bloomberg: Cuomo, Murphy Call for More Covid Relief to Hardest-Hit States

February 5, 2021

New Jerseyans stood to pay $3.1 billion more in taxes annually as a result of the 2017 change, according to a study by the Institute on Taxation and Economic Policy, a non-profit, non-partisan research group based in Washington. Read more

Washington Post: Here’s the new Democratic plan for $1,400 stimulus checks

February 4, 2021

The best argument in favor of the checks is that they have kept many Americans out of poverty during the crisis. An analysis by the left-leaning Institute on Taxation and Economic Policy found the bottom 20 percent of Americans — those earning less than $21,300 — would see their income rise nearly 30 percent, helping […]

CNBC: Fewer people may qualify for the $1,400 stimulus payments. Here’s why

February 4, 2021

At the same time, the additional $1,400, on top of the $600 payments sent earlier this year, would increase the incomes of the poorest 20% of Americans, those earning less than $21,300 in 2020, by 29%, according to a report from the left-leaning Institute on Taxation and Economic Policy. Read more

Jacobin: The Washington Post Deserves 324 Billion Pinocchios for Its Attacks on Bernie Sanders

February 4, 2021

Kessler’s entire line of argument deserves about 324 billion Pinocchios — one for each dollar that flowed to the richest fifth of the country in just 2020 alone, according to the Institute on Taxation and Economic Policy. The group’s analysis shows that almost three-quarters of the tax cuts flowed to that cohort.. Read more

Newsweek: Democrats May Block Millions of Families from Receiving Full Stimulus Checks

February 4, 2021

Senate Republicans on Monday proposed that Congress limit full stimulus checks to individuals earning up to $40,000 and couples earning $80,000—a move that would deny checks to an additional 80 million people, according to the Institute on Taxation and Economic Policy. Read more

Public News Service: Report: Biden Relief Package Could Reduce Child Poverty in Nebraska

February 3, 2021

President Joe Biden’s proposal to expand the Child Tax Credit would help reduce child poverty and extend the credit to nearly half of all Black and Hispanic children, according to new analysis by the Institute on Taxation and Economic Policy. Amy Hanauer, executive director for the institute, said the move will help working people in […]

Jacobin Magazine: The Chamber of Commerce Wants to Slash COVID-19 Relief Checks. We Can’t Let Them

February 3, 2021

Senate Republicans on Monday proposed that Congress limit full stimulus checks to individuals earning up to $40,000 and couples earning $80,000 — a move that would deny checks to an additional eighty million people, according to the Institute on Taxation and Economic Policy. Read more

NJ.com: Biden says GOP plan with $1,000 payments is too small as Senate moves ahead with his plan. Here’s the latest.

February 3, 2021

The Institute on Taxation and Economic Policy, a progressive research group, said that 90% of New Jersey adults and 91% of children would receive at least a partial payment. But that’s a lower percentage than any other state, tied with Massachusetts. Of the 5.6 million adults in the state who would receive a stimulus check, […]

Fiscal Times: Biden Urges Senate Dems to Go Big on Covid Relief

February 2, 2021

The difference translates to 80 million fewer people getting payments under the GOP plan, according to an analysis by the left-leaning Institute on Taxation and Economic Policy cited by the Post’s Jeff Stein. Read more

Washington Post: White House open to narrowing who qualifies for stimulus checks but keeping payments at $1,400 per person

February 2, 2021

Biden’s plan would provide stimulus payments to approximately 95 percent of the country, while the Republican plan, lowering the threshold to those making under $50,000 a year, would provide payments to about 70 percent of the country, according to preliminary estimates of the proposals by the Institute on Taxation and Economic Policy, a left-leaning think […]

Bloomberg: Vehicle Mile Tax Draws Fresh Attention as Buttigieg Takes Post

February 2, 2021

Large segments of the population are as skeptical of government as they’ve ever been, so asking them to install devices in their vehicles to determine how far and sometimes even where they’ve driven seems “tone deaf for this moment,” Carl Davis, research director at the Institute on Taxation and Economic Policy, said. “I don’t know […]

The Hill: Biden plan would provide more taxpayers stimulus checks than GOP’s

February 2, 2021

The Tax Foundation’s findings are similar to an estimate from the left-leaning Institute on Taxation and Economic Policy that found that about 95 percent of adults and children are in households that would receive payments under Biden’s plan. Read more

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].