Select Media Mentions
Rising Up with Sonali: How Corporations Have Benefitted From Trump’s Tax Law
December 20, 2016
A new report by the Institute on Taxation Economic Policy examined corporate tax avoidance in the first year that the tax law took effect. The results are the opposite of what Republicans promised and in line with what critics of the law feared: that wealthy corporations, many of which already receive massive public subsidies and […]
Telegram & Gazette: Worcester property tax policy deserves study
December 20, 2016
“Low-income families generally pay a higher percentage of their earnings on state and local taxes. The Institute on Taxation and Economic Policy, for example, said that in 2015, families earning less than $22,000 annually paid 10.4 percent of their income on state and local taxes. Those earning between $22,000 and $44,000 paid 9.3 percent of […]
The Post Script: America’s immigrants get the short end of the stick
December 20, 2016
“Contrary to popular belief, undocumented immigrants pay state and local taxes to the tune of $11.64 billion a year. And it is estimated that around 50 percent of undocumented immigrants file income taxes using an Individual Tax Identification Number, according to a report written in Feb. 2016 from The Institute on Taxation and Economic Policy. […]
Politifact: Most taxes are lower since Cuomo was elected
December 20, 2016
“Property taxes statewide continue to rise despite a state imposed cap. Most municipalities are not able to raise property taxes more than 2 percent without voter approval. The Department of Budget says the property tax bill for a typical taxpayer is more than the state income tax amount. A report from the Institute on Taxation […]
Financial Times: BlackRock and Franklin Templeton to win big from US tax holiday
December 20, 2016
“Despite the best efforts of Congress to make sure that the last repatriation holiday spurred investment rather than dividends, it didn’t work out,” said Matthew Gardner, senior fellow at the Institute on Taxation and Economic Policy, who analysed asset managers’ company filings for FTfm. “Cash is fungible and companies are going to do whatever they […]
The Intercept: Apple, Google and Others at Trump Tech Summit Have Stashed $560 Billion in Profits Overseas
December 16, 2016
“The last thing we should be doing is rewarding these bad actors with special tax breaks that are unavailable to the rest of us,” said Matt Garner, a senior fellow at the Institute on Taxation and Economic Policy. “The critical question to ask about corporate tax reform going forward is how it can stop companies […]
Christian Science Monitor: The peril and promise of Trump’s approach to saving jobs
December 14, 2016
““There’s a crying need for federal oversight” of state economic incentives, Matthew Gardner, senior fellow at the Institute on Taxation and Economic Policy, writes in an email. “It’s basically a harmful exercise in a lot of cases. Policymakers are often giving away money for free.”” Read More
Las Vegas Review-Journal: Amazon didn’t need Nevada’s handout, expert says
December 13, 2016
“Amazon is now relying on the type of abatement package it received from Nevada, LeRoy said, since the company no longer can avoid collecting sales tax, in general. Although Amazon has operated a warehouse in Nevada since 1999, it started collecting sales tax from online sales in Nevada only in 2014, according to the Institute […]
New York Times: Corporate Welfare Won’t Create Jobs
December 12, 2016
“That loophole, known as deferral, lets corporations avoid paying any United States taxes on their offshore profits until they are brought back here. That’s why, according to a recent survey by tax researchers, Fortune 500 companies are holding nearly $2.5 trillion in profits that are booked offshore, mostly in tax havens, on which no United […]
Twin-Cities Pioneer Press: A practical, tested solution for our undocumented-immigrant puzzle
December 12, 2016
“A mass deportation would have huge, measurable consequences to our economy. For example, according to a study by the nonpartisan Institute on Taxation and Economic Policy, it would reduce our collective tax revenue as a nation by $12 billion, not to mention the estimated cost, approximately $400 billion, to deport these individuals.” Read More
Tahlequah Daily Press: Earned Income Tax Credit legislation to be filed by NW OKC lawmaker
December 9, 2016
“Because of SB 1604, a single mother with two children and working full-time at $10 an hour will experience a tax increase of $231, and a married couple with three children and earning $20,800 a year will realize a tax hike of $313, the Oklahoma Policy Institute calculated. The average loss will be $91 per […]
Village Voice: Why Cuomo’s Hopes for Trump Infrastructure Cash Could Crumble
December 7, 2016
“And transportation experts warn that plenty of worthy projects would likely fall by the wayside if P3s were the only option. “We’re not going to have private companies filling our potholes or expanding our bus system, because those things aren’t profitable,” says Carl Davis, research director at the D.C.-based Institute on Taxation and Economic Policy. […]
In These Times: Carrier is “Gaming the System” and Trump Just Played into Its Hands
December 5, 2016
“Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, who has critiqued the Trump-Pence Carrier deal in a series of blog posts, told In These Times he sees this entire saga as an example of Carrier “gaming the system” for its own ends on the backs of taxpayers.” Read More
Bloomberg BNA: For Better or for Worse? Tax Policy Changes in New Jersey
December 2, 2016
“But gas taxes are also highly regressive, falling most heavily on low- and middle-income families. In this case, an analysis using the Institute on Taxation and Economic Policy microsimulation model shows the gas tax increase will average 0.54 percent of the incomes of New Jerseyans with incomes less than $25,000, while averaging 0.14 percent of […]
Reno News & Review: No fair
December 1, 2016
“The Institute on Taxation and Economic Policy reports that the poorest 20 percent of Nevada families pay 6.1 percent of their income in sales tax. The wealthiest one percent of Nevada families pays six-tenths of one percent.” Read more
The Hoya: DC Council Approves Eliminating Tampon Tax
November 30, 2016
“The bill has nevertheless encountered opposition from various organizations within the District. Richard Phillips, senior policy analyst at the Institute on Taxation and Economic Policy, a non-profit, nonpartisan think tank that focuses on state and tax policy issues, expressed concerns that the exemption would not be an efficient way to address some of the inherent […]
The Atlantic: Why It’s So Hard to Know What to Make of the Carrier Deal
November 30, 2016
“Additionally, some economists say that it’s bad policy for states to offer up tax breaks for companies who agree to locate plants or other operations in certain communities, a practice that is widespread, with states and municipalities already providing $50 billion in location-incentive tax breaks every year—that’s money that could be used for schools or […]
Austin American-Statesman: Wood: The flaws in Trump’s mass deportation plan
November 28, 2016
“Opponents of undocumented immigrants often assume that these workers don’t contribute to the economy and leech off public services; this simply isn’t true. Many of these people work and contribute to the economy. Research from the Institute on Taxation and Economic Policy indicates that out of the $11.64 billion in taxes paid by undocumented workers […]
Bloomberg BNA: Some Private School “Donors” Use Tax Code to Turn Profit
November 28, 2016
“Carl Davis is the research director at the Institute on Taxation and Economic Policy. ITEP is a non-profit and non-partisan research group that works on federal, state, and local tax issues. On the campaign trail, President-elect Donald Trump said that he would encourage states to provide more public funding for private schools through the creation […]
Mass Transit Magazine: US: Trump’s Infrastructure Plan Dwarfed by Estimates of Need
November 28, 2016
“‘There are still 20 states that have waited a decade or more since last raising their gas tax rates,’ said Carl Davis, research director at the Institute on Taxation and Economic Policy, a progressive think tank. ‘At least a dozen states are going to be discussing gas tax increases next year.'” Read more
The Independent: Donald Trump’s tax plans a ‘massive giveaway’ to richest 1%
November 28, 2016
“Mr Trump also plans to scrap inheritance tax, which is currently only charged on estates worth more than $5.45m (£4.3m) and joint estates of $10.9m (£8.7m), affecting just one in 500 Americans. ‘It’s hard to think of a tax change that will have a more detrimental effect on inequality,’ Matt Gardner, a senior fellow at […]
Vice Sports: Trump’s Infrastructure Plan Could Be a Giant Sports Welfare Giveaway
November 23, 2016
“P3s are having a bit of a heyday right now, as local governments experiment with having private investors build everything from toll roads to water projects. The method has limitations. For one, notes Carl Davis, research director at the D.C.-based Institute on Taxation and Economic Policy, it can only be used on projects that generate […]
The Guardian: Trump’s tax plan: massive cuts for the 1% will usher ‘era of dynastic wealth’
November 23, 2016
“‘Listening to Trump’s rhetoric, most Americans probably don’t realise at all the impact of Trump’s tax plan,’ Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy (ITEP) said. ‘Any way you slice it, the very best-off Americans will be the biggest beneficiaries.’ ‘If it looks bad now for middle-income families, those […]
Worcester Telegram & Gazette: Clive McFarlane: Worcester trying to balance tax options
November 23, 2016
“Both the bureau’s and Mayor Petty’s proposal nevertheless would shift a greater share of the tax burden to those least able to afford it. The Institute on Taxation and Economic Policy, for example, has noted that ‘on average, poor homeowners and renters pay more of their income in property taxes than do any other income […]
Albany Times-Union: There’s another way people in expensive cities are ‘penalized,’ and they might not know it
November 21, 2016
“Part of the reason why Albouy’s ideas have not caught on is that it would be complicated. ‘It would add incredible complexity to the tax code,’ said Matthew Gardner, senior fellow with the Institute on Taxation and Economic Policy. There are many good reasons, he said, why things cost more in New York than they […]
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