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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.
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blog
October 26, 2022
Measures on the November Ballot Could Improve or Worsen State Tax Codes
In a couple of weeks, voters in a handful of states will weigh in on several tax-related ballot measures that could make state tax codes… -
map
October 18, 2022
Extreme Wealth by State, 2022
More than one in four dollars of wealth in the U.S. is held by a tiny fraction of households with net worth over $30 million. This extreme wealth is geographically concentrated, with the top 10 states accounting for more than 70 percent of nationwide extreme wealth and with New York and California alone accounting for nearly a third.
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report
October 13, 2022
The Geographic Distribution of Extreme Wealth in the U.S.
More than one in four dollars of wealth in the U.S. is held by a tiny fraction of households with net worth over $30 million. Nationally, we estimate that wealth over $30 million per household will reach $26 trillion in 2022 with roughly one-fifth of that amount ($4.5 trillion) held by billionaires.
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blog
October 5, 2022
State Rundown 10/5: Forecasting Ain’t Easy
Although the weather is beginning to cool down in parts of the country, the same cannot be said for many state economies, which are still running hot. That, however, doesn’t mean that the good times are guaranteed to last…
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report
October 4, 2022
Unfinished Tax Reform: Corporate Minimum Taxes
While the Inflation Reduction Act’s corporate minimum tax is a huge improvement in our tax system, implementing the global corporate minimum tax would improve it much more. And if other governments implement the global minimum tax, the United States will have an even stronger interest in joining them to ensure that new revenue collected from American corporations flows to the U.S. rather than to other countries.
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blog
October 3, 2022
Congress Should Not Leave Children Out of Possible Year-End Tax Deal
If lawmakers believe it’s worthwhile to extend corporate tax breaks, then it would be entirely unreasonable for them to not conclude the same about tax provisions that help low-income children.
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blog
September 21, 2022
State Rundown 9/21: Earth, Wind, Fire & Taxes Edition
Do you remember/the big tax news innn September? Well, if not, we at ITEP got you covered…
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brief
September 20, 2022
How the Inflation Reduction Act’s Tax Reforms Can Help Close the Racial Wealth Gap
Lawmakers have many opportunities to pass reforms that will make our tax code fairer and further reduce racial inequity in our economy. The Inflation Reduction Act is a great step forward; better taxing wealth and income from wealth and expanding targeted refundable tax credits would build on this progress.
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brief
September 15, 2022
Boosting Incomes and Improving Tax Equity with State Earned Income Tax Credits in 2022
States continued their recent trend of advancing EITCs in 2022, with nine states plus the District of Columbia either creating or improving their credits. Utah enacted a 15 percent nonrefundable EITC, while the District of Columbia, Hawaii, Illinois, Maine, Vermont and Virginia expanded existing credits. Meanwhile, Connecticut, New York and Oregon provided one-time boosts to their EITC-eligible populations.
