Recent Work by ITEP
Twenty states have legalized cannabis sales for general adult use. Every state allowing legal sales applies a cannabis tax based on the product’s quantity, its price, or both. ITEP research indicates that taxes based on quantity will be more sustainable over time because prices are widely expected to fall as the cannabis industry matures.
Why is My Refund So Much Smaller This Year? Only the Good (Tax Credits) Die Young.
April 18, 2023 • By Joe Hughes
This year millions of American families are finding that their refunds are much smaller than last year—or that they even owe taxes back to the government—because of the expiration of the expanded Child Tax Credit and Earned Income Tax Credit that were in effect in 2021. The lapse of the expanded credits affects a majority of the middle class, but lower-income households are particularly likely to feel the sting.
Everything! Taxing wealthy people and corporations and using the revenue for paid leave, child care, education, health care and college would transform America for girls and women of every race and family type, in every corner of this country.
State Rundown 4/12: Tax Day 2023 – A Good Reminder of the Impact of Our Collective Investments
April 12, 2023 • By ITEP Staff
With Tax Day quickly approaching it’s worth taking some time to reflect not just on tax forms (though those are important!), but also on the current state of state tax policy...
Deep Public Investment Changes Lives, Yet Too Many States Continue to Seek Tax Cuts
April 12, 2023 • By Aidan Davis
When state budgets are strong, lawmakers should put those revenues toward building a stronger and more inclusive society for the long haul. Yet, many state lawmakers have made clear that their top priority is repeatedly cutting taxes for the wealthy.
As Tax Day approaches, it’s worth thinking about not only the taxes that we individually pay but the overall condition of our tax code as well. State tax codes, while perhaps less discussed than the federal system, are critically important. Depending on how they are designed, state taxes can improve or worsen economic and racial […]
Every state with a personal income tax offers tax subsidies for seniors that are unavailable to younger taxpayers. The best academic research suggests that the median state asks senior citizens to pay about one-third less in personal income tax than younger families with similar incomes. The majority of these subsidies are costly and poorly targeted. […]
This week, a bill out of Arkansas that would cut the top personal income tax rate and the corporate income tax rate found its way to the governor’s desk...
Lawmakers have repeatedly stepped on the same rake of slashing tax rates and expecting revenues to magically go up. Now they want middle-class Americans to be the ones who get hit in the face. The con is getting tired. If Congress wants to reel in the debt then it’s time to raise taxes on the wealthy.
Minnesota’s Tax Code Should Be Based on Ability to Pay, Not Year of Birth
March 31, 2023 • By Carl Davis, Eli Byerly-Duke
Minnesota lawmakers are considering a carveout that would treat seniors much more favorably than young families. The proposal would fully exempt all Social Security income from state income tax, even for seniors with exceptionally high incomes.
ITEP in the News
PolitiFact: Trump Signs Legislation Introducing Federal Tax Credit for School Choice
Fortune: For the First Time in 50 Years, The U.S. Will Likely Experience Negative Net Migration, Shrinking The U.S. Workforce – And Economic Growth by Extension
USA Today: Would Mamdani's 'Millionaire Tax' Chase the Rich Out of New York City?
Rolling Stone: Every Dirty Gift Trump’s Big Bill Gives the Fossil Fuel Industry
Washington Post: Conservatives Are Asking Trump for Another Big Tax Cut
ITEP Work in Action
Georgia Budget & Policy Institute: Historic Federal Tax Shift Benefits Wealthiest, Grows Deficit and Exacerbates Georgia’s Rural Challenges
Demos: The Reconciliation Bill Is a Brazen Betrayal of Present and Future Generations
Joint Center for Political and Economic Studies: Joint Center Launches 2025 Tax Advisory Committee
Florida Policy Institute: What Floridians Should Know About the FY 2025-26 Tax Package
The Bell Policy Center: Colorado’s Rural Communities Will Suffer from the Federal Budget Bill
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