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blog
May 20, 2020
The HEROES Act Would Correct CARES Act Business Tax Mistakes
The Health Economic Recovery and Omnibus Emergency Solutions (HEROES) Act includes important changes to business tax provisions in the CARES Act, the most recent COVID-19… -
blog
May 20, 2020
A Dimon Memo Will Buy You a Dime's Worth of Social Change
JPMorgan Chase CEO Jamie Dimon, in a May 19 memo to employees, outlines steps the company is taking to help its customers, small businesses and… -
report
May 15, 2020
Major Cash Payment and Tax Provisions in the HEROES Act
Read as PDF DATA AVAILABLE FOR DOWNLOAD The major provisions for cash payments and tax changes in the House Democrats’ Health and Economic Recovery Omnibus… -
brief
May 14, 2020
Analysis: How the HEROES Act Would Reach ITIN Filers
The HEROES Act, filed by the House Democrats this week, includes a new one-time payment of $1,200 per adult and child and extends the payment to ITIN filers and their families. The bill also includes a retroactive change to the CARES Act ensuring ITIN filers will also receive the initial payment under the CARES Act. ITEP estimates more than 4.3 million adults and 3.5 million children would benefit from this change.
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ITEP Work in Action
May 14, 2020
Fiscal Policy Institute: Unemployment Insurance Taxes Paid for Undocumented Workers in NYS
In the midst of a pandemic, there has been a growing call for undocumented immigrants, who make up five percent of the New York State… -
blog
May 12, 2020
HEROES Act is an Appropriate Recession Response
House Democrats today introduced a proposal that responds to our staggering economic crisis with the right policies at the necessary scale. It’s a refreshing change from some of the misdirected ideas that have passed or been floated in these alarming economic times.
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blog
May 8, 2020
Which Workers Wouldn’t Be Helped by a Payroll Tax Cut?
New data released today estimates 20.5 million jobs were lost in the month of April alone. Workers not currently receiving paychecks would be left out of any benefits provided by a payroll tax cut.
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report
May 8, 2020
Harris-Sanders-Markey Cash Payment Proposal Would Dwarf Checks Sent Under the CARES Act
Sens. Kamala Harris, Bernie Sanders and Edward Markey released a proposal to provide a monthly payment of $2,000 for each member of a household (including up to three dependents), with benefits phased out at income levels starting at $200,000 for married couples. The proposal is partly a response to concerns that one-time cash payments under the CARES Act, which amount to $1,200 ($2,400 for married couples) and $500 for each child under age 17, are not sufficient to help families make ends meet or boost the economy.
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blog
May 7, 2020
State Rundown 5/7: State Fiscal Responses to Pandemic Starting to Get Real
State lawmakers are starting to use fiscal policy levers to address the COVID-19 pandemic, but the actions vary greatly and are just a start. Mississippi, for example, is one state still clarifying who has authority to determine how federal aid dollars are spent. Colorado, Georgia, Missouri, and Ohio are among the many states identifying painful funding cuts they will likely make to shared priorities like health care. The Louisiana House and the Minnesota Senate each advanced tax cuts and credits that could dig their budget holes even deeper. Connecticut leaders are looking at one of the more comprehensive packages, which includes funding cuts as well as revenue measures to reduce the severity of those cuts by cancelling the scheduled expiration of prior-year business tax increases.
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news release
May 6, 2020
ITEP: White House Seeks to Exploit COVID-19 Crisis to Enact Unpopular Tax Cuts
Following is a statement by Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, regarding the Trump administration’s musings to respond to the COVID-19 health and economic crisis with tax cuts.
