Institute on Taxation and Economic Policy

Select Media Mentions

International Business Times: Do Lower Taxes Spur Economic Growth? What Happened In No-Tax States

October 26, 2017

Researchers at the non-partisan and non-profit Institute on Taxation and Economic Policy compared the nine states without personal income taxes, which include Florida, Texas and Washington, to the nine states with the highest top marginal tax rates over the last decade, which include California, New York and Oregon. They found the states with the highest […]

CNN: How Trump’s Policies Could Hurt the Rust Belt

October 25, 2017

Rust Belt states Ohio, Michigan and Indiana are not home to large populations of $1 million household income earners. Rather, they’re in the middle or bottom of the pack, according a summary from the Institute on Taxation and Economic Policy. States with a higher percentage of millionaire earners voted for Hillary Clinton in the 2016 […]

Forbes: Which U.S. Companies Have the Most Tax Havens

October 24, 2017

Every year, U.S.-based multinational corporations use tax havens to avoid paying an estimated $100 billion in federal income tax. According to a report from the Institute on Taxation and Economic Policy, 366 of the country’s 500 largest companies maintain at least 9,755 tax haven subsidiaries where they hold over $2.6 trillion in accumulated profits. Apple is […]

Wall Street Cheat Sheet: 15 People Who Will Cash in Big from the Trump Plan

October 23, 2017

According to the the Institute on Taxation and Economic Policy, it would be a tale of two classes. The top 1% (those earning over $600,000) would see an average tax cut of $145,000. Americans earning less than $66,200 would get an extra $1,250. Financial analysts from the country’s top banks predict the plan would add over […]

Think Progress: Trump’s Tax Bill Is a Swamp Monster

October 19, 2017

Piper was among several Fierce lobbyists working for Apple on the bill in the Senate, House, and the Executive Office of the President. Apple — the company that had over $230 billion overseas as of 2016 — has been lobbying to allow multinational corporations like itself to bring such accumulated foreign earnings back to the U.S. […]

CNN: America Needs Higher Wages, Not Lower Taxes

October 19, 2017

There’s no argument over who benefits from the current Republican proposal to cut taxes, if you put aside ideology and honestly look at the numbers. According to analyses from the Tax Policy Center and the Institute on Taxation and Economic Policy, more than two-thirds of the tax cuts would benefit the richest 1% of Americans […]

NPR’s Marketplace: Can You Convince Americans to Support Lower Corporate Taxes by Promising Them a Pay Raise?

October 18, 2017

Another reason Trump’s message may not land? Many economists don’t think that corporate tax cuts will lead to higher wages. “It’s a pretty far-fetched claim,” said Matthew Gardner of the Institute on Taxation and Economic Policy. Gardner said the corporate tax cuts would likely mean bigger payouts for shareholders, but there’s no guarantee anything would […]

Reveal: The Fight for Public Education

October 17, 2017

In this radio interview, ITEP research director Carl Davis discusses the downfalls of using tax credits for private education. Carl is featured around the 8:40 mark. Read more

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 […]

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