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blog
February 28, 2023
New Jersey, New York, and Connecticut Should Keep Corporate Taxes Strong, Extend Surcharges
At a time when corporations are seeing record profits while not paying their fair share of federal taxes, state corporate income taxes can and should play a role in raising sustainable revenue and adding progressivity to state tax codes. Right now, lawmakers in New Jersey, New York, and Connecticut have a unique opportunity to extend targeted tax changes that have raised billions of dollars from profitable corporations for meaningful public investments.
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blog
February 28, 2023
Dear Ohio: Beware the Flat Tax
The flat tax plan and others being discussed that would cut even deeper would be windfalls for the wealthy, and expensive ones at that. Families with incomes over $300,000 per year, for example, could expect to gain, as a group, about a billion dollars annually under the flat tax plan. If you asked Ohio families about their top priorities for this legislative session, it’s a safe bet that very few of them would choose a billion-dollar tax cut for this group over funding for schools, parks, and infrastructure.
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blog
February 23, 2023
State Rundown 2/23: Tax Dominos Take Shape, Begin to Fall as Session Heats Up
The 2023 legislative session is in full swing, and dominos continue to be set up as others fall…
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blog
February 22, 2023
The Five Best Tax Ideas Coming from Governors This Year
The word “tax” appears 97 times and counting in one recent summary of governors’ addresses to state legislators so far this year. The policy visions that governors are bringing, however, vary enormously. While there’s good reason to worry about tax cuts for wealthy families and the flattening or elimination of income taxes, there are at least five great tax ideas coming directly out of governors’ offices this year.
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blog
February 15, 2023
State Rundown 2/15: Love You, Love You Not – Tax Edition
This week, a fresh bouquet of tax proposals was delivered by state lawmakers, but not all of them have left us with that warm, fuzzy feeling in our stomachs…
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blog
February 14, 2023
The No Tax Breaks for Outsourcing Act Is Needed More than Ever
The new corporate minimum tax enacted as part of last year’s Inflation Reduction Act will address some of the worst corporate tax dodging, but what else is needed? A group of Democrats have answered this question with the No Tax Breaks for Outsourcing Act.
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blog
February 13, 2023
Biden Says the Stock Buyback Tax Should Be Higher. Here are Three Reasons Why He’s Right.
A higher tax on stock buybacks would reduce the tax disparity between dividends and buybacks, raise more revenue for productive public investments, and recoup some of Trump’s corporate tax cuts that went to wealthy shareholders.
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brief
February 13, 2023
Higher Stock Buyback Tax Would Raise Billions by Tightening Loophole for the Wealthy
A higher excise tax rate on buybacks is completely reasonable. Quadrupling the rate, as the President proposes, would raise more revenue and cut into the tax advantage buybacks have over dividends. When a company uses their cash holdings to repurchase their own stock, it is an admission that they have few productive investment opportunities. The public does have productive uses for the tax revenue like infrastructure and schools that create value for the entire economy.
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blog
February 9, 2023
State Rundown 2/9: We <3 Taxes
The great women’s philosopher, Pat Benatar, once said “love is a battlefield,” and there’s no greater test of our love for state tax policy than following the ups and downs of state legislative sessions…
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blog
February 9, 2023
Why the States Have a Major Role to Play If We Want Tax Justice
With fears of gridlock in a divided Washington, tax justice champions are building momentum in other places where there’s dire need for better tax policy: the states. We can upgrade communities across the country by making 2023 a year to win tax improvements in statehouses.