Recent Work by ITEP

State Rundown 11/23: Thankful for Tax Advocates Like You!

November 23, 2021 • By ITEP Staff

Here at ITEP we want to give thanks and say we’re grateful for all of the hard work that advocates in states across the country are doing to secure progressive tax policy victories...

Key Reform in Build Back Better Act Would Close Loophole Used by the Rich To Avoid Funding Healthcare

November 18, 2021 • By Joe Hughes

The proposal in the Democrats’ Build Back Better proposal applies the 3.8 percent Net Investment Income Tax to all profit distributions from partnerships and S-corporations so that this income of wealthy pass-through business owners no longer escapes.

Tax Credit Reforms in Build Back Better Would Benefit a Diverse Group of Families

November 18, 2021 • By Aidan Davis

The CTC and EITC provisions would have a particularly profound effect on the poorest 20 percent of Americans, who all will have incomes of less than $22,000 in 2022. Taken together, the EITC and CTC changes would lift the average income of these households by more than 10 percent.

Analysis of the House of Representatives’ Build Back Better Legislation

November 18, 2021 • By Carl Davis, Steve Wamhoff

If the bill becomes law, in 2022 federal taxes would go up for the average taxpayer among the richest one percent and down for the average taxpayer in other income groups.

Report Illustrates How 70 Corporations Could Be Affected by Minimum Tax Proposal in the Build Back Better Act

November 18, 2021 • By Matthew Gardner

Amazon, Bank of America, Facebook, FedEx, General Motors, Google, Netflix, PayPal, T-Mobile and Verizon are just a few of the 70 corporations that would have paid more taxes under the Democrats’ proposed Corporate Profits Minimum Tax (CPMT) if it had been in effect in 2020 according to a new report from Sen. Elizabeth Warren’s office with estimates verified by the Institute on Taxation and Economic Policy.

State Rundown 11/10: It’s Beginning to Look a Lot Like…Election Season?!

November 10, 2021 • By ITEP Staff

If the leaves are turning colors and you find yourself walking out of the office into pitch-black darkness, it only means that time of the year is upon us—and no, I'm not talking about the holiday season. Before that, it’s the equally important election season...

Paying The Estate Tax Shouldn’t Be Optional for the Super Rich

November 9, 2021 • By Carl Davis

ProPublica this year released multiple exposés revealing how the nation’s wealthiest individuals and families avoid taxes on an unimaginable scale. Most recently, it uncovered Republican and Democratic elected officials and political appointees who used complex strategies to avoid taxes.  Richard Painter, a White House ethics lawyer under George W. Bush, said these revelations should be “troubling […]

Democrats Seek to Eliminate the Stock Buyback Advantage

November 4, 2021 • By Joe Hughes

An important reform in the bill before Congress would tax stock buybacks in a way that is more comparable to how dividends are taxed. Corporations would be required to pay a tax equal to 1 percent of their stock repurchases, ensuring that profits shifted to shareholders in this way are subject to some federal tax.

The Impact of Work From Home on Commercial Property Values and the Property Tax in U.S. Cities

November 4, 2021 • By ITEP Staff

The fiscal implications of a decline in commercial property values are important because the property tax is the dominant local source of taxes, and commercial property makes up a significant portion of the property base in cities.

Senators Menendez and Sanders Show the Way Forward on the SALT Cap

November 3, 2021 • By Steve Wamhoff

Amending the Build Back Better bill to fully repeal the SALT cap would mean that the richest 1 percent could pay less in personal income taxes than they do now, which goes against everything President Biden has said for the past year as he promoted this legislation.