Recent Work by ITEP
While tax discussions among federal lawmakers continue in fits and starts, major tax news continues to make waves across the nation...
Revenue-Raising Proposals in President Biden’s Fiscal Year 2023 Budget Plan
April 26, 2022 • By Steve Wamhoff
President Biden's latest budget plan includes proposals that would raise $2.5 trillion in new revenue. While many of these reforms appeared in his previous budget, some of them are brand new, such as his proposal to prevent basis-shifting in partnerships and his Billionaires Minimum Income Tax.
Biden’s Proposals Would Fix a Tax Code that Coddles Billionaires
April 21, 2022 • By Steve Wamhoff
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 to pay less, as demonstrated by the latest expose from reporters at ProPublica using IRS data. According to their calculations, Betsy DeVos, the Education Secretary under former President Donald Trump, […]
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...
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…
Some Lawmakers Continue to Mythologize Income Tax Elimination Despite Widespread Opposition
April 19, 2022 • By Kamolika Das
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.
Cannabis Taxes Outraised Alcohol by 20 Percent in States with Legal Sales Last Year
April 19, 2022 • By Carl Davis
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.
Long-term troubles for this country and this planet now demand our attention. Progressive tax policy would transform our ability to tackle them.
State Rundown 4/13: Recent State Budgets Prove Not All Tax Cuts are the Same
April 13, 2022 • By ITEP Staff
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...
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...
ITEP in the News
Telegram: Trump has Turned America's Taxman into a Weapon against Migrants
Houston Chronicle: Texas Oil Companies Forecast Billions in Tax Breaks from Trump's 'Big Beautiful Bill'
Quartz: The $40,000 SALT Goldmine Only the Wealthy Will Actually Get
AP News: Georgia Republicans, Against Backdrop of 2026 Election, Push to Eliminate State Income Tax
Barron's: Social Security Is 90 Years Old. Trump Just Weighed In.
ITEP Work in Action
Democrat Committee on Education & Workforce: Ranking Member Bonamici Opening Remarks at ECESE Subcommittee Hearing on Reading and Math in K-12 Schools
Economic Policy Institute: Unions Aren’t Just Good for Workers—They Also Benefit Communities and Democracy
Hawai'i Appleseed: Incoming Federal Tax Cuts Will Heavily Favor Hawaiʻi’s Wealthiest Residents
New Hampshire Fiscal Policy Institute: New Federal Reconciliation Law Reduces Taxes, Health Access, and Food Assistance Supports for Granite Staters
United Ways of California: The Economic Impact of Immigrants in California
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