Recent Work by ITEP
New ITEP Report Examines the Tax Changes in the House Ways and Means Build Back Better Bill
September 21, 2021 • By Steve Wamhoff
The vast majority of these tax increases would be paid by the richest 1 percent of Americans and foreign investors. The bill’s most significant tax cuts -- expansions of the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) -- would more than offset the tax increases for the average taxpayer in all income groups except for the richest 5 percent.
Tax Changes in the House Ways and Means Committee Build Back Better Bill
September 21, 2021 • By ITEP Staff, Matthew Gardner, Steve Wamhoff
This report finds that the vast majority of these tax increases would be paid by the richest 1 percent of Americans and foreign investors. The bill’s most significant tax cuts -- expansions of the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) -- would more than offset the tax increases for the average taxpayer in all income groups except for the richest 5 percent.
Why Congress Should Reform the Federal Corporate Income Tax
September 17, 2021 • By Joe Hughes, Steve Wamhoff
It is reasonable for corporations (and, indirectly, their shareholders) to pay taxes to support the government investments that make their profits possible, such as the highways that facilitate the movement of goods and people, the education and health care systems that provide a productive workforce, the legal system and the protection of property, all of which are vital to commerce. Corporate tax avoidance allows wealthy and powerful individuals to reap enormous benefits from these investments without contributing their fair share to support them.
House Ways and Means Provisions to Raise Revenue Would Significantly Improve Our Tax System But Fall Short of the President’s Plan
September 15, 2021 • By Steve Wamhoff
High-income people and corporations would pay more than they do today, which is a monumental change. But some wealthy billionaires like Jeff Bezos would continue to pay an effective rate of zero percent on most of their income, and American corporations would still have some incentives to shift profits offshore.
Though we can’t fault anyone for being distracted by the major stories of the day, we at ITEP remain committed to keeping you up to date on what’s happening in the tax world around you...
New Census Data Highlight Need for Permanent Child Tax Credit Expansion
September 14, 2021 • By Neva Butkus
The status quo was a choice, but the Census data released today shows that different policy choices can create drastically different outcomes for children and families. It is time for our state and federal legislators to put people first when it comes to recovery.
A Data-Driven Case for the CTC Expansion in the Ways & Means Committee’s Recent Proposal
September 13, 2021 • By Aidan Davis
The move toward permanent full refundability and inclusion of all immigrant children are crucial components of the future of the CTC. Together they will help ensure that the credit reaches the children most in need, making a vital dent in our nation’s unacceptably high rate of child poverty.
Extending Federal EITC Enhancements Would Bolster the Effects of State-Level Credits
September 13, 2021 • By Aidan Davis
The EITC expansion targets workers without children in the home. In 2022 it would provide a $12.4 billion boost, benefiting 19.5 million workers who on average would receive an income boost of $730 dollars.
Frequently Asked Questions about Proposals to Repeal the Cap on Federal Tax Deductions for State and Local Taxes (SALT)
September 3, 2021 • By Carl Davis, ITEP Staff, Steve Wamhoff
Even though Democrats in Congress uniformly opposed the TCJA because its benefits went predominately to the rich, many Democratic lawmakers now want to give a tax cut to the rich by repealing the cap on SALT deductions.
It’s Not About Farms: Don’t Let Lies Crush Biden’s Tax Plan
September 2, 2021 • By Steve Wamhoff
Several former Democratic members of Congress have joined a campaign to misrepresent President Biden’s proposal to close a huge tax loophole for wealthy people with capital gains. This proposed reform is the cornerstone of the president’s tax plan. If lawmakers fall for the lies, Biden's plan will collapse. Instead, they should do what is both popular and fair: enact the plan intact so that millionaires and billionaires no longer escape the federal income tax.
ITEP in the News
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.
Nonprofit Quarterly: Class Not Dismissed: Mamdani, Nonprofits, and the Fight for Economic Justice
Wall Street Journal: Blue States Hunt for Ways to Wring More Taxes From the Wealthy
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
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
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