Recent Work by ITEP

State Rundown 11/2: Midterms on the Mind

November 2, 2022 • By ITEP Staff

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...

Tax Foundation’s ‘State Business Tax Climate Index’ Bears Little Connection to Business Reality

October 31, 2022 • By Carl Davis, Matthew Gardner

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.

Measures on the November Ballot Could Improve or Worsen State Tax Codes

October 26, 2022 • By Jon Whiten

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 more equitable and raise money for public services, or take states in the opposite direction, making tax systems less fair and draining state coffers of dollars needed to maintain critical […]

Extreme Wealth by State, 2022

October 18, 2022 • By ITEP Staff

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.

The Geographic Distribution of Extreme Wealth in the U.S.

October 13, 2022 • By Carl Davis

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.

State Rundown 10/5: Forecasting Ain’t Easy

October 5, 2022 • By ITEP Staff

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...

Unfinished Tax Reform: Corporate Minimum Taxes

October 4, 2022 • By Steve Wamhoff

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.

Congress Should Not Leave Children Out of Possible Year-End Tax Deal

October 3, 2022 • By Steve Wamhoff

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.

State Rundown 9/21: Earth, Wind, Fire & Taxes Edition

September 21, 2022 • By ITEP Staff

Do you remember/the big tax news innn September? Well, if not, we at ITEP got you covered...

How the Inflation Reduction Act’s Tax Reforms Can Help Close the Racial Wealth Gap

September 20, 2022 • By Brakeyshia Samms, Joe Hughes

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.