Recent Work by ITEP

ITEP Testimony on Corporate Tax Reform before the New York State Senate Select Committee on Budget and Tax Reform

May 21, 2009 • By ITEP Staff

The stated purpose of this hearing is to evaluate the impact of New York’s business taxes on equity and economic growth. These are laudable concerns: the most basic questions to ask about any corporate break are whether they are allocated fairly, and whether there’s any reason to think they will help create jobs in New […]

Ready, Set, Reform – How the Income Tax Can Help Make the Illinois Tax System Fairer and More Sustainable

May 15, 2009 • By ITEP Staff

The Illinois tax system faces a crisis of both adequacy and equity. The state must confront a projected $11.6 billion budget shortfall over the next two fiscal years that will likely require a variety of difficult spending and tax policy choices, and also faces a fundamental long-term mismatch between its spending needs and the revenues […]

Analysis of HJR 36 “Fair” Tax Plan

May 1, 2009 • By ITEP Staff

Earlier this week, the Missouri Senate Ways and Means Committee held a hearing on House Joint Resolution 36, which would eliminate the state’s individual and corporate income taxes while increasing the state’s sales tax rate and applying the sales tax to all consumer spending. The bill would also introduce a sales tax rebate to offset […]

Fact Sheet on HB64 Income Tax Proposal

April 23, 2009 • By ITEP Staff

Missouri House Bill 64 would change the state’s personal income tax in three important ways: • Expand the starting point for the 6 percent top income tax bracket from $9,000 to $50,000 of taxable income.• Increase the deduction for federal income taxes paid from $10,000 for married couples($5,000 for single filers) to $15,000 for married […]

Fact Sheet on SB71 Proposed Income Tax Rate Cut

April 23, 2009 • By ITEP Staff

This policy brief examines the impact of the principal tax change in House Committee Substitute for Senate Bill 71, which would decrease each of the state’s income tax rates by 0.5 percent. Missouri’s income tax rate structure currently starts at 1.5 percent for filers with taxable income below $1,000 and increases in thousand dollar increments […]

Budget Hikes Taxes on Low-Income Families to Pay for High-End Capital Gains Cuts

April 7, 2009 • By ITEP Staff

On Friday, April 3, the Georgia General Assembly passed a budget for fiscal year 2010 that includes a major new tax cut (an exclusion for long-term capital gains income) and a substantial tax increase (eliminating a state-funded property tax relief program). A new analysis by the Washington, DC-based Institute on Taxation and Economic Policy (ITEP) […]

A Capital Idea: Repealing State Tax Breaks for Capital Gains Would Ease Budget Woes and Improve Tax Fairness

March 15, 2009 • By ITEP Staff

This report explains what capital gains are, how they are treated for tax purposes, and who typically receives them. It also details the consequences of providing preferential tax treatment for capital gains income for states’ budgets, taxpayers, and economies in nine key states. Lastly, it responds to claims about both the relationship between capital gains […]

ITEP Testimony on HB 642 Tax Reform Proposal before the New Hampshire General Court House Committee on Ways & Means

March 5, 2009 • By ITEP Staff

I am here today to offer testimony on House Bill 642, which was introduced by Representative Jessie Osborne earlier this year and which would improve New Hampshire’s tax system, both by generating additional revenue and by shifting greater responsibility for such revenue onto those state residents with a greater ability to pay. In the time […]

ITEP Testimony on HB 567 Income Tax Reform

February 18, 2009 • By ITEP Staff

My testimony today focuses on one bill introduced in the Missouri House of Representatives: HB 567, which concerns reforming the state’s individual income tax structure. In particular, my testimony will discuss the impact of this bill on the overall fairness of Missouri’s tax system. This bill would make the overall tax structure more equitable and […]

ITEP’s Public Comments to the Governor’s 21st Century Tax Reform Commission

September 15, 2008 • By ITEP Staff

We appreciate the opportunity to submit comments on ways to improve Minnesota’s business climate. Historically, Minnesota has ranked above the national average in terms of many economic and social indicators. These public services are what foster economic development and what businesses look for when making location decisions. In fact, “research shows an emerging consensus that […]