
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.
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.
Over the past week Washington state saw a major victory for tax fairness after the state Supreme Court held the state’s capital gains tax—passed in 2021—constitutional...
March 30, 2023 • By Andrew Boardman, Kamolika Das
Most local tax systems are falling short of their potential. Well-structured local tax policies support communities by facilitating important investments and advancing fairness, but the tax revenue sources most utilized by local governments tend to disproportionately weigh on households with fewer resources. Learning from these realities can inform the path to improved tax policies and stronger communities.
From dedicating new taxes to fund climate action and public health to vacancy and “mansion” taxes, many local leaders are already exploring ways to make their tax systems more progressive and sustainable. ITEP is committed to helping local leaders and advocates build on this work by advancing knowledge about local tax solutions.
March 27, 2023 • By Brakeyshia Samms
As we look ahead to what comes next in our journey to a more race-conscious tax policy debate, it’s worth reflecting on how we got here and what we’ve learned along the way.
As nature bursts into life and color with the arrival of spring, state tax proposals are doing the same as the legislative seeds planted by lawmakers earlier this year start to grow, blossom, and in some cases rot. However, some governors are not entirely happy with what state lawmakers have produced.