Recent Work by ITEP

Massey Pays One-Sixth of 35% Federal Tax Rate, Little in State Income Tax

April 15, 2010 • By Matthew Gardner

A new analysis shows that Massey Energy, which owned the Upper Big Branch mine where 29 West Virginia miners were killed last week, paid an average of 5.6 percent of its profits in federal income taxes over the last three years—despite having large profits in each year. This is less than one-sixth of the statutory […]

Leaving Money on the Table: “Federal Offset” Provides Incentive for States to Rely on Progressive Income Taxes

April 10, 2010 • By ITEP Staff

Seven states—Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming—have chosen to make up for the lack of an income tax by increasing their reliance on general sales taxes.1 The result is an “upside down” state tax system, which imposes higher effective tax rates on middle- and low-income families than on the best-off taxpayers. But […]

Does Alabama’s Tax System “Redistribute Wealth”?

April 5, 2010 • By ITEP Staff

Last week, an Alabama legislative committee approved a bill, House Bill 1, that would take an important step towards making one of the most unfair tax systems in the nation somewhat less unfair. Some opponents of the bill have characterized it as a “redistribution of wealth” from the best-off families to low-income taxpayers. However, these […]

Maryland’s Millionaire Migration Debate: Understanding the Relevance of the New Jersey Migration Studies

March 25, 2010 • By ITEP Staff

As the debate over extending the Maryland “millionaires’ tax” continues, numerous lawmakers and advocates have recently begun to look toward New Jersey’s experience with its own “halfmillionaires’ tax” to help inform their understanding of the issues at work. In particular, two studies of New Jersey’s migration patterns—one from Boston College and one from Princeton University—have […]

Proposed Repeal of Refundable Low Income Credit Would Hurt the Poorest Georgians

March 25, 2010 • By ITEP Staff

Earlier this week, the tax writing committee in the Georgia House of Representatives quietly approved a bill, HB 1219, that would increase Georgia taxes by about $20 million a year by paring back a tax credit that only affects the very poorest Georgians. The bill’s proponents have repeatedly implied that the beneficiaries of the existing […]

ITEP’s Testimony Before the MD House Ways & Means Committee on Preserving Maryland’s “Millionaires’ Tax”

March 23, 2010 • By ITEP Staff

My testimony today focuses on Senate Bill 913, which would temporarily extend, through 2014, the “millionaires’ tax” that is currently scheduled to expire at the end of 2010. This testimony emphasizes that the “millionaires’ tax” makes Maryland’s tax system at least somewhat less unfair than it otherwise would be; that claims about the negative impact […]

ITEP’s Testimony on HB 2034 Income Tax Reforms

March 18, 2010 • By ITEP Staff

My testimony today focuses on one bill introduced in the Missouri House of Representatives: HB 2034, which would reform the state’s individual income tax structure. My testimony will discuss the impact of this bill on the yield and fairness of Missouri’s income tax. HB 2034 would raise over a billion dollars a year to fund […]

ITEP’s Testimony Before the MD Senate Budget and Tax Committee on Preserving Maryland’s “Millionaires’ Tax”

March 11, 2010 • By ITEP Staff

My testimony today focuses on Senate Bill 913, which would temporarily extend, through 2014, the “millionaires’ tax” that is currently scheduled to expire at the end of 2010. This testimony emphasizes that the “millionaires’ tax” makes Maryland’s tax system at least somewhat less unfair than it otherwise would be; that claims about the negative impact […]

Leadership Tax Plan Hits Poor Hardest

March 2, 2010 • By ITEP Staff

Media outlets are reporting that leaders in the New Mexico legislature reached a tentative agreement in the days leading up to this week’s special legislative session that would impose over $220 million a year in new Gross Receipts Taxes (GRT) and cigarette taxes. Reports also indicate that the agreement does not include any provisions to […]

Evaluating Special Session Revenue-Raising Options

February 26, 2010 • By ITEP Staff

In a special legislative session starting March 1, the New Mexico Legislature will consider a variety of revenue-raising options to close the state’s budget deficit. Some of the options under consideration—especially those approved by the state Senate earlier this year—would fall much more heavily on low- and middle-income families than on the best-off New Mexicans. […]