Institute on Taxation and Economic Policy (ITEP)

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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

Nevada Current: NV can have a job-creating energy agenda, unless it costs money

February 2, 2021

The bottom 20 percent of Nevadans with an income of less than $20,500 pay 10.2 percent of their daily income in taxes, including 7 percent in sales tax, according to the Institute on Taxation and Economic Policy. However, Nevadans with an income of $473,600 or higher only pay about 2 percent share of their household […]

The (Tacoma) News Tribune: Washington parents would get big tax breaks under Biden’s COVID relief plan

February 2, 2021

The Institute for Taxation and Economic Policy estimated that the second lowest 20% of Washington income earners, those making $28,800 to $53,200, would save an average $2,470. The middle 20%, who make $53,200 to $84,400, would get an average $2,190 break, and the next group of 20% would see an average $2,110 break. They earn […]

Market Place: Caught in the Unemployment Benefits Gap

February 1, 2021

This episode features commentary from Jessica Scheider on the risk of too small a stimulus. Read more: https://www.marketplace.org/shows/marketplace/people-caught-unemployment-benefits-gap/

Law 360: La. Gov. Won’t Support Gas Tax Hike This Year Due To Virus

January 29, 2021

A January report from the American Petroleum Institute said Louisiana’s total per-gallon state taxes and fees of 20.01 cents on fuel rank below the national average of 36.83 cents for gasoline and 37.85 cents for diesel. Carl Davis, research director at the left-leaning Institute on Taxation and Economic Policy, told Law360 in November that Louisiana’s […]

Bloomberg: The 2017 Tax Law Report Card: Grading the Big Promises (Podcast)

January 29, 2021

On the latest episode of our weekly podcast, Talking Tax, Bloomberg Tax reporter Lydia O’Neal spoke with Tax Foundation economist Erica York and Institute on Taxation and Economic Policy senior fellow Matt Gardner about which of the law’s stated goals came to fruition. Listen here

Business Insider: Democrats Are Setting the Stage to Propose $300 Monthly Direct Payments for Families with Children under 17

January 27, 2021

The Institute on Taxation and Economic Policy, a left-leaning think tank, released an analysis on Tuesday projecting that the poorest 20% of Americans — or those earning below $21,300 annually — would experience the largest benefit boost with an extra $4,570. The bottom 60% of Americans would receive $3,360 on average, the institute forecast. Read more

The 74: With DeVos Out, Movement for Private School Choice Shifts to State Legislatures

January 27, 2021

The scholarship policies rely on tax credits — from 50 up to 100 cents on the dollar, depending on the state — in return for contributions to assist with private school tuition. The high return rates are “incredibly unusual,” says Carl Davis, research director at the Institute on Taxation and Economic Policy. Most other credits, he […]

Raw Story: Expert Explains Why You Pay More than Corporations — and the People Who Own Them

January 26, 2021

The actual taxes paid in any given year may be less than zero as a company collects refunds on past taxes. Many big companies including Amazon have enjoyed a negative income tax in recent years. Matthew Gardner of the Institute on Taxation and Economic Policy explains more here. Read more  

Bloomberg: The Trump Tax Cuts: Promises Made, Promises Kept?

January 26, 2021

In the waning days of the Trump administration, Bloomberg Tax examined the law’s stated goals and explored which of its seven major promises came to fruition. “The most prominent claims made were often the least serious claims,” said Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy. Read more

The Nation: These Progressives Helped Keep Hope Alive in 2020—and Prepare Us for 2021

January 25, 2021

The Nation’s annual honor roll recognizes progressive activists and leaders who helped keep hope alive and set the groundwork for transformational change in 2021. Since taking over in 2019 as executive director of Citizens for Tax Justice and the Institute on Taxation and Economic Policy, Hanauer has been calling out the economic fallacies that pass […]

Newsweek: Third Stimulus Check of $1,400 Will Likely Be Passed by End of March, Analysts Say

January 25, 2021

A study released earlier in January by the Institute on Taxation and Economic Policy indicated that the bottom 60 percent of U.S. earners would see a “significant” impact to their finances with a $2,000 payment. Read more

MarketWatch: Here’s the Maximum Amount Biden’s Stimulus Checks and Tax Credits Would Deliver to America’s Poorest Families

January 20, 2021

For the bottom 60% of incomes, the new round of direct payments, plus the two expanded tax credits would average $3,520, equaling around 11% of annual income, the Institute on Taxation and Economic Policy researchers said. “We are not out of the COVID-19 situation yet and this is what we need,” according to Steve Wamhoff, […]

The Daily Northwestern: Advocates Against Income Inequality Reassess After the Fair Tax Act’s Failure

January 20, 2021

The Fair Tax Amendment would have introduced a progressive income tax to Illinois. The state currently mandates a flat income tax of 4.95 percent. Illinois ranks eighth in the country for tax inequality, according to the Institute on Taxation and Economic Policy. Throughout the state, the lowest-income 20 percent contribute over 14.4 percent of total […]

Yahoo!Money: Here’s Who Gets a Payment under Biden’s $1,400 Stimulus Check Proposal

January 16, 2021

The $2,000 stimulus checks would also mean a big increase in income for America’s poorest families. The 20% of households with the lowest incomes would see their annual income increase by 29% if Congress passed the Democrats’ $2,000 stimulus check proposal, the Institute on Taxation and Economic Policy (ITEP) found. The effect of Biden’s plan […]

WWD: Execs Flag ‘Concerns’ Over Corporate Taxes Amid Rising Inequality

January 14, 2021

“The lack of accessible child care, climate change, inequality…all these things are pretty basic existential threats for American workers, families and America as a nation,” said Gardner. “And the only way they can be meaningfully solved is through government spending and intervention, and an effective government requires an effective tax system.” Corporate income tax revenues […]

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].