Institute on Taxation and Economic Policy

Select Media Mentions

Washington Examiner: Indiana’s Tax Cuts Haven’t Led to Higher Paychecks

October 17, 2017

Carl Davis for the Institute on Taxation and Economic Policy: In announcing a tax cut framework in Indianapolis that was negotiated with House and Senate leaders, President Trump said, “Indiana is a tremendous example of the prosperity that is unleashed when we cut taxes and set free the dreams of our citizens … In Indiana, […]

Wisconsin Public Radio: Paul Ryan Defends Tax Proposal Health Insurance Subsidy Cut

October 17, 2017

A study by the Institute on Taxation and Economic Policy in Washington DC found about 60 percent of the proposed tax cuts would benefit the top 1 percent of income earners in Wisconsin. Ryan said Monday he hadn’t seen that report, but maintained his stance that cutting taxes on businesses would help middle-income people by creating more jobs. […]

International Business Times: Three quarters of Fortune 500 companies used offshore tax havens in 2016

October 17, 2017

New research has revealed that 73% or 366 companies on the Fortune 500 list, including brands as big as Nike, Apple and Citigroup, used tax havens to avoid US taxes in 2016. A new report, published on Tuesday (17 October) by the Public Interest Research Group (PIRG) Education Fund and the Institute on Taxation and […]

The Nation: How the Swindlers of Silicon Valley Avoid Paying Taxes

October 17, 2017

The Institute on Taxation and Economic Policy (ITEP), a nonpartisan organization, has warned, “Corporations would have even greater incentives to engage in accounting gimmicks to make their U.S. profits appear to be earned in offshore tax havens such as Bermuda and the Cayman Islands, where corporate profits are not taxed.” The logic for companies is […]

Fiscal Times: 4 Corporate Giants Benefiting from Offshore Tax Havens

October 17, 2017

A new report by the U.S. Public Interest Research Group Education Fund and the Institute on Taxation and Economic Policy finds that nearly three-quarters of Fortune 500 companies used offshore tax havens in 2016. The report says that four companies — Apple, Pfizer, Microsoft and General Electric — account for a quarter of the $2.6 […]

Bloomberg BNA: Taxes Lost to Offshore Profits Rise to $752B in 2016

October 17, 2017

The report, released Oct. 17 by the left-leaning U.S. Public Interest Research Group Education Fund and the Institute on Taxation and Economic Policy, “undermines the case for any tax proposal that would allow companies to repatriate their U.S. profits at a special low tax rate,” according to a news release. In addition to a lower […]

New York Times: U.S. and Europe May Collide on Taxing Apple and Amazon

October 13, 2017

The rulings on Amazon and Apple — which those companies are disputing — are byproducts of a race among governments to lure corporate giants to their shores in the hunt for new sources of revenue. That cutthroat competition is the reason that 73 percent of Fortune 500 companies have a subsidiary in a low-tax haven, […]

FiveThirtyEight: The GOP Had One Big Divide On Health Care. It Has Three On Taxes.

October 11, 2017

Here’s the problem: The draft Republican plan would raise a lot of people’s taxes. Estimates from the Tax Policy Center suggest that limiting tax deductions and going from seven tax brackets to three would cause tax increases for about 12 percent of taxpayers,1 including a third with incomes between $150,000 and $300,000, who would pay […]

Select State News Coverage of ITEP’s 50-State Analysis of the GOP Tax Proposal

October 10, 2017

The Sentinel: Trump Tax Even in Harrisburg Will Feature Truckers The Columbus Dispatch: 15% of Ohioans Could See Tax Increase Under GOP Plan KGW Portland: Richest Oregonians Benefit Most from Proposed Tax Cuts Raleigh News & Observer: The Racial Wealth Divide Could Grow with Tax Changes Northwest Indiana Times: Hoosiers Would Lose in Trump Tax […]

Ralph Nader Radio Hour: The Truth About Trump’s Tax Plan

October 7, 2017

Ralph and Alan Essig, Executive Director of Citizens for Tax Justice break down President Trump’s Tax Reform proposal and insurance expert, Robert Hunter, returns to explain what’s going on with hurricane and flood insurance in the wake Harvey, Irma and Maria. Read more  

Electablog: Everything You Need to Know About the Trump Tax Plan

October 7, 2017

http://www.eclectablog.com/2017/10/episode-53-everything-you-need-to-know-about-the-trump-tax-scam.html

Mother Jones: Republicans Are Already Giving Up on a Key Part of Trump’s Tax Plan

October 5, 2017

For the third time in eight days, a new study has found that President Donald Trump’s tax plan is a major handout to the richest Americans. On Wednesday, the left-leaning Institute on Taxation and Economic Policy estimated that the top 1 percent of Americans would get 67 percent of the benefits from the Republican tax plan released last […]

The Washington Monthly: The Republican Tax Cut Framework Is Already in Trouble

October 4, 2017

The tax cut framework suggests that Republicans will eventually define some corporate tax loopholes to close. They haven’t done so yet because that will unleash a host of corporate lobbyists to fight against them, which is all the proof we should need that the statutory tax rate, as it exists today, is meaningless. The real […]

Bloomberg: Trump Plan Aims New Foreign Tax at Apple, Other Multinationals

October 2, 2017

Currently the U.S. taxes corporate profits worldwide, no matter where they’re earned. That approach — which makes America unique among developed nations — comes with a large asterisk: Companies can defer paying tax on their overseas earnings until they return that income to the U.S., a process known as repatriation. The repatriation quirk has prompted […]

Raleigh News & Observer: The Racial Wealth Divide Could Grow with Tax Changes

September 30, 2017

But that’s assuming nothing changes. If Trump moves forward with the policies he campaigned on, especially his tax “reform” plan, the gap surely grows. Trump’s tax plan is heavily skewed toward providing massive tax breaks for the ultra-wealthy. Half of the proposed cuts will go to millionaires, according to the Institute on Taxation and Economic […]

On Point with Tom Ashbrook: Totaling Up President Trump’s Tax Overhaul Plan

September 28, 2017

And now, it’s time for the Trump tax plan. A miracle for the middle class, the president said in Indianapolis yesterday. He’s selling hard. But there are knowns and unknowns here. Known: upper-income households would get large tax cuts. Known: lower-income households would get none. Unknown: how exactly the middle class would make out. Or […]

Salon: Everyone Hates Trump’s Godawful Tax Plan — Except the GOP Donor Class

September 28, 2017

Wealthy businesses and individuals will benefit from the proposal in other ways as well, including a reduction in the corporate tax rate from 35 percent to 20 percent. On the other hand, the outline also proposes eliminating many corporate deductions, which primarily benefit the largest enterprises. According to research by the left-leaning Institute on Taxation and […]

Bloomberg: Stock Traders Celebrate Nonexistent Tax Cuts

September 28, 2017

Although Republicans say the plan is to reduce the corporate tax rate to 20 percent from the current 35 percent, the Institute on Taxation and Economic Policy found that more than 250 of the largest U.S. companies already paid an effective rate of just 21.2 percent from 2008 to 2015. Read more

Think Progress: Trump’s Plan Gives Corporate Tax Lobbyists Nearly Everything They Want

September 28, 2017

Another key corporate giveaway in the proposal would allow multinational corporations to bring accumulated foreign earnings back to the homeland at a low one-time rate, known as a repatriation tax. The administration has still not announced that rate but officials have reportedly indicated it will be somewhere in the 10 percent range. The non-partisan Institute […]

Fox News: Trump, Republicans reveal tax plan: What to know

September 27, 2017

The Institute on Taxation and Economic Policy last week slammed Trump’s plan as it said it wouldn’t alleviate financial burdens of the middle class. “Vague promises can’t conceal the hard facts: if anything resembling President Trump’s current proposal becomes law, the outcome would be a redistribution of wealth to the already wealthy on a scale […]

New York Times: Will a Corporate Tax Holiday Give Workers Anything to Cheer?

September 26, 2017

Apple alone is sitting on an overseas stash of almost $260 billion, according to Bloomberg, while Microsoft has more than $120 billion parked abroad. The pharmaceutical giant Pfizer does not regularly disclose how much of its offshore profits are stored in foreign tax havens, but the Institute on Taxation and Economic Policy estimates that at […]

New York Times: Nothing Is Too Strange for Cities Wooing Amazon to Build There

September 25, 2017

Tax policy experts are more skeptical of Amazon’s bidding process and how much cities stand to benefit. “Why are they doing this whole dog and pony show? Amazon wants something for nothing,” said Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, a nonpartisan think tank. “They would like a package […]

Mother Jones: The 5 Biggest Myths In Republicans’ Quest To Lower Corporate Taxes

September 22, 2017

And then there are the companies that pay far less than the average—or sometimes nothing at all. Earlier this year, the left-leaning Institute on Taxation and Economic Policy found that eighteen profitable Fortune 500 companies, including General Electric and Priceline, had paid no federal corporate taxes from 2008 to 2015.

Associated Press: Doubts Arise on Whether Corporate Tax Cut Would Boost Growth

September 18, 2017

The AT&T executive added that “anything” would be an improvement on the current corporate tax rate of 35%. But like many corporations, AT&T also benefited substantially from tax breaks between 2008 and 2015, saving as much as than $38 billion, according to an analysis by the left-leaning Institute on Taxation and Economic Policy. The administration […]

The Richmond Register: DACA Recipients in Limbo While Congress Debates

September 16, 2017

The Institute on Taxation and Economic Policy (ITEP) revealed dreamers pay an effective state and local tax rate of 9.1 percent of their income. That’s higher than the wealthiest 1 percent in Kentucky who pay just six percent. ITEP puts the total amount of taxes undocumented immigrants of all ages contribute to Kentucky in state […]

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].