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blog
November 21, 2022
Child Tax Credit Expansion Would Shrink the Racial Wealth Gap
Extending the expanded Child Tax Credit would benefit nearly every child in low- and middle-income families. Under current rules, 24% of white children, 45% of Black children, and 42% of Hispanic children will not receive the full credit in 2023 because their families make too little. These figures would drop to zero if the provisions were extended, helping families of all races and disproportionately helping families of color.
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blog
November 16, 2022
States Can Halve Child Poverty with Child Tax Credits
State policymakers have the tools they need to drastically reduce child poverty within their borders. A new ITEP report, coauthored with Columbia University’s Center on… -
report
November 16, 2022
State Child Tax Credits and Child Poverty: A 50-State Analysis
Regardless of future Child Tax Credit developments at the federal level, state policies can supplement the federal credit to deliver additional benefits to children and families. State credits can be specifically tailored to meet the needs of local populations while also producing long-term benefits for society as a whole
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blog
November 10, 2022
State Rundown 11/10: Midterm Madness
As states continue to tally the remaining votes and the news stories roll out at a breakneck pace, the unofficial results of the 2022 midterm elections have brought with it significant changes across the state tax policy landscape…
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blog
November 10, 2022
Election Day in the States: Voters Deliver Important Victories for Tax Justice
Voters in Massachusetts and Colorado raised taxes on their wealthiest residents to fund schools, public transportation and school lunches for kids while making their tax codes more equitable. And voters in West Virginia defeated a proposal to deeply cut taxes, mostly for businesses, and drain the coffers of county and local governments.
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brief
November 10, 2022
Twenty-Three Corporations Saved $50 Billion So Far Under Trump Tax Law’s “Bonus Depreciation” that Many Lawmakers Want to Extend
Nearly two dozen of America’s largest corporations together received roughly $50 billion in tax breaks from 2018 through 2021 under a Trump tax law provision that many lawmakers now want to extend. Corporate lobbyists are even asking Congress to extend this “accelerated depreciation” tax break as part of a possible year-end tax bill.
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blog
November 9, 2022
Massachusetts Voters Score Win for Tax Fairness with ‘Fair Share Amendment’
In a significant victory for tax fairness, Massachusetts voters approved Question 1—commonly known as the Fair Share Amendment—Tuesday night with 52 percent of the vote. The new constitutional amendment creates a 4 percent surcharge on income over $1 million, and the revenue will specifically fund education and transportation projects in the Bay State.
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blog
November 3, 2022
Key Republicans Say Negligible Decline in Economic Growth Outweighs Enormous Drop in Child Poverty
The expanded Child Tax Credit reduced child poverty dramatically and immediately. There is no debate or murkiness on this. Some lawmakers have decided that cutting child poverty in half is not worth the cost if it means an ambiguous and negligible decline in GDP growth. This view is not just cruel, it is bad economics.
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blog
November 2, 2022
State Rundown 11/2: Midterms on the Mind
Next Tuesday, voters will head to the polls to not only elect local and national leaders, but also let their voices be heard on a range of tax policy issues that could improve or worsen their state tax codes…
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blog
October 31, 2022
Tax Foundation’s ‘State Business Tax Climate Index’ Bears Little Connection to Business Reality
The big problem with the Index is that it peddles a solution that not only falls short of the goal of generating business investment, but one that actively harms state lawmakers’ ability to provide the kinds of public goods – like good schools and modern, efficient transportation networks – that businesses need and want.
