-
blog
April 21, 2022
Biden’s Proposals Would Fix a Tax Code that Coddles Billionaires
Billionaires can afford to pay a larger share of their income in taxes than teachers, nurses and firefighters. But our tax code often allows them… -
blog
April 20, 2022
State Rundown 4/20: New Tax Changes in Full Bloom
This Spring looks to be bringing a mix of showers and flowers as states around the nation continue to act on a range of tax proposals…
-
map
April 20, 2022
How Is Recreational Cannabis Taxed in Your State?
Eighteen states have legalized the sale of cannabis for general adult use and sales are already underway in 10 of those states. Every state allowing legal sales applies an excise tax to cannabis based on the product’s quantity, its price, or both. Quantity taxes are typically based on weight, though New York measures quantity by the amount of THC sold. 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. Most states allowing for legal cannabis sales apply their general sales taxes to the product and local sales taxes also typically apply where such taxes exist.
-
blog
April 19, 2022
Some Lawmakers Continue to Mythologize Income Tax Elimination Despite Widespread Opposition
One of the most surprising trends this legislative session is that conservative leaders and the business community joined with progressive advocates to oppose income tax repeal plans. There is a general consensus that income tax repeal is a step too far.
-
blog
April 19, 2022
Cannabis Taxes Outraised Alcohol by 20 Percent in States with Legal Sales Last Year
In 2021, the 11 states that allowed legal sales within their borders raised nearly $3 billion in cannabis excise tax revenue, an increase of 33 percent compared to a year earlier. While the tax remains a small part of state budgets, it’s beginning to eclipse other “sin taxes” that states have long had on the books.
-
blog
April 18, 2022
Public Problems Demand Public Solutions
Long-term troubles for this country and this planet now demand our attention. Progressive tax policy would transform our ability to tackle them.
-
blog
April 13, 2022
State Rundown 4/13: Recent State Budgets Prove Not All Tax Cuts are the Same
Two prominent blue states made headlines this past week when they passed budget agreements that include relief for taxpayers, and fortunately, the budget plans don’t include costly tax cuts that primarily benefit the wealthy…
-
blog
April 6, 2022
State Rundown 4/6: Late-Session Surprises Pt. 2
Last week we highlighted how several states were pushing through regressive tax cuts as their legislative sessions are coming to a close. Well, this week many of those same states took further actions on those bills and it’s safe to say we’re even less impressed than before…
-
blog
April 6, 2022
President Biden’s Proposed Billionaires’ Minimum Income Tax Would Ensure the Wealthiest Pay a Reasonable Amount of Income Tax
The Billionaires’ Minimum Income Tax included in President Biden’s budget plan would limit an unfair tax break for capital gains income and complement proposals the president has offered previously to limit other tax breaks for capital gains.
-
blog
April 6, 2022
Frequently Asked Questions and Concerns About the President Billionaires’ Minimum Income Tax
Find the answers to some frequently asked questions about President Biden’s Billionaires’ Minimum Income Tax, which would limit very wealthy individuals’ ability to put off paying income taxes on capital gains until they sell assets.
