Recent Work by ITEP
State Rundown 7/6: Tax Policy Keeping Governors Busy from Coast to Coast
July 6, 2023 • By ITEP Staff
From coast to coast, state governors have been busy inking their signature on a growing list of consequential budget and tax bills...
Corporations Reap Billions in Tax Breaks Under ‘Bonus Depreciation’
June 29, 2023 • By Matthew Gardner, Steve Wamhoff
Since TCJA expanded tax breaks for “accelerated depreciation” starting in 2018, it has reduced taxes by nearly $67 billion for the 25 profitable corporations that benefited the most. Congress is now looking at extending this policy.
State Rundown 6/28: Movement on Refundable Credits Remains Hot Topic in 2023
June 28, 2023 • By ITEP Staff
The trend of state lawmakers taking big steps on important tax credits like the Child Tax Credit and Earned Income Tax Credit is coming out in full force this week...
State Action on Child Tax Credits and Earned Income Tax Credits in 2023
June 28, 2023 • By ITEP Staff
In 2023 so far, 17 states have either adopted or expanded a Child Tax Credit or Earned Income Tax Credit. Both these policies can help bolster the economic security of low- and middle-income families and position the next generation for success.
Congressional Republicans Distort a New Report on the Global Minimum Tax
June 22, 2023 • By Steve Wamhoff
The notion that we are better off allowing our corporations to pretend their profits are earned in the Cayman Islands or Ireland simply defies logic and the facts. There is no scenario in which the U.S. would be better by ditching the international agreement that the government already negotiated.
Summer is here and many states nearing the end of their legislative sessions. Temperatures are rising in more ways than one in some state legislatures while others seem to be cooling off.
As the sweet days of summer pass, the scent of jasmine isn't the only thing blowing through the minds of state lawmakers, as tax policy discussions remain at the forefront...
Expanding the Child Tax Credit Would Help Nearly 60 Million Kids, Especially Those in Families with Low Incomes
June 13, 2023 • By Joe Hughes
Restoring the federal Child Tax Credit to 2021 levels would benefit nearly 60 million children. Three-quarters of the benefit would go to families in the bottom three quintiles, consisting of households with less than $86,600 in income.
Illinois Voucher Tax Credits Don’t ‘Invest in Kids,’ They Invest in Inequality
June 12, 2023 • By Carl Davis
By allowing their school privatization tax credit to expire at the end of the year, Illinois lawmakers can take a meaningful step toward better tax and education policy, and a clear show of support for our nation’s public education system.
Trio of GOP Tax Bills Would Expand Corporate Tax Breaks While Doing Little for Americans Who Most Need Help
June 11, 2023 • By Steve Wamhoff
The trio of tax bills that cleared the House Ways and Means Committee in June include tax cuts that would mostly benefit the richest one percent of Americans and foreign investors.
ITEP in the News
AP News: Ohio Budget Bill With Browns Stadium Funding, LGBTQ+ Restrictions Heads to Gov. Mike DeWine
CNBC: How the Republican Megabill Targets Immigrant Finances
The Wall Street Journal: The Tax Bill Would Deliver a Big Win for Private Schools – and Investors
USA Today: Trump Orders ICE to Expand Efforts in NYC, LA, Chicago: See How Many Immigrants Live in Major Metros
WHYY News: ‘Every dollar counts’: Critics Say Plan to Increase Fees, Taxes and Tolls Will Disproportionately Hurt Poor Delawareans
ITEP Work in Action
CBPP: Missouri Poised to Enact Appalling Giveaway to its Richest Residents
NC Budget & Tax Center: It’s Time for a Millionaire’s Tax in North Carolina
Nebraska Legislature: Poverty Elimination Action Plan
Video: ITEP's Amy Hanauer Discusses 2025 Tax Bill on Power at Work Blogcast
League of Women Voters: What's Happening with Medicaid, Tax Cuts, and Budget Bills?
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