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report
April 2, 2021
55 Corporations Paid $0 in Federal Taxes on 2020 Profits
At least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year despite enjoying substantial pretax profits in the United States. This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations, and it appears to be the product of long-standing tax breaks preserved or expanded by the 2017 tax law as well as the CARES Act tax breaks enacted in the spring of 2020.
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report
April 2, 2021
Corporate Tax Reform in the Wake of the Pandemic
Read as PDF Note: This report is adapted from written testimony submitted by Amy Hanauer before testifying in person to the Senate Budget Committee on… -
blog
April 1, 2021
State Rundown 4/1: Most States Resisting Foolish Tax Cut Games That Tear Revenues Apart
Supporters of tax fairness and adequate funding for public needs are hoping West Virginia’s income tax elimination effort turns out to be a prank, but most states are not fooling around with such harmful policies this year. For example…
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blog
April 1, 2021
Biden’s Corporate Tax Revolution
The corporate tax plan put forth on Wednesday by President Joe Biden to offset the cost of his infrastructure priorities would be the most significant corporate tax reform in a generation if enacted.
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blog
March 31, 2021
A New Look at Taxes and Race at the State and Local Levels
A new ITEP report reveals how different taxes have very different impacts on racial equity and unveils data for two states showcasing the consequences of their contrasting tax policy choices. In short, we find that income taxes can help narrow the racial income and wealth divides while sales taxes generally make those divides worse.
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report
March 31, 2021
Taxes and Racial Equity: An Overview of State and Local Policy Impacts
Historic and current injustices, both in public policy and in broader society, have resulted in vast disparities in income and wealth across race and ethnicity. Employment discrimination has denied good job opportunities to people of color. An uneven system of public education funding advantages wealthier white people and produces unequal educational outcomes. Racist policies such as redlining and discrimination in lending practices have denied countless Black families the opportunity to become homeowners or business owners, creating extraordinary differences in intergenerational wealth. These inequities have long-lasting effects that compound over time.
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blog
March 25, 2021
Tax Reform Must Include Adequate Funding for the IRS
The Biden administration has made clear that its top priorities include a major recovery package with critical investments to boost the nation’s economy and tax… -
blog
March 25, 2021
Looking at the Tax Code Through A Race Equity Lens Presents a Strong Case for Reforms
An important new book from Professor Dorothy Brown at Emory University offers a timely look at the federal tax code through the lens of racial… -
blog
March 25, 2021
Here Are Some Truths About Corporate Tax Avoidance
We all need the things that the public sector provides. When corporate taxes go unpaid, the American people have less for the things that would help our communities. That means less repair of our failing infrastructure, less investment in greening our economy, less funding to help young people attend college.
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March 25, 2021
Testimony to Senate Budget Committee on Ending a Rigged Tax Code: The Need To Make the Wealthiest People and Largest Corporations Pay their Fair Share of Taxes
Following is testimony of ITEP Executive Director Amy Hanauer before the Senate Budget Committee to consider “Ending a Rigged Tax Code: The Need To Make…