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blog
June 12, 2019
State Rundown 6/12: Progress in Taxing the Rich, Expanding EITCs, and Taming Tax Subsidies
This week saw lawmakers in Ohio propose significant harmful tax cuts, leaders in California and Oregon work toward strengthening the state Earned Income Tax Credits (EITCs), and governors in Missouri and Kansas declare a truce to end the practice of bribing businesses in the Kansas City area with tax cuts to move from one side of the state line to the other. Meanwhile, Massachusetts leaders are discussing ways of raising taxes on their richest households, which our latest Just Taxes blog post notes is a promising trend this year across many states.
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blog
June 12, 2019
Taxing the Rich Works
States are putting evidence into practice with multiple efforts to improve services and tax codes through more progressive taxes on the wealthy. Clear evidence has spread widely this year, informing a national conversation about progressive taxation and leading lawmakers in multiple states to eschew supply-side superstition and act on real evidence instead. Taxing the rich works, and in this Just Taxes blog we review state-level efforts to put these proven findings into effect.
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blog
June 11, 2019
New SALT Workaround Regulations Narrow a Tax Shelter, but Work Remains to Close it Entirely
Today the Internal Revenue Service (IRS) released its final regulations cracking down on a tax shelter long favored by private and religious K-12 schools, and… -
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June 10, 2019
Does Your State Offer Tax Credits for Private K-12 School Voucher Donations?
Eighteen states provide public support to private and religious K-12 schools through large tax credits for taxpayers who contribute money to K-12 school voucher funds.… -
blog
June 6, 2019
Congress Steers Away from Entrenching So-Called Free File Program
Just before tax day in April, ITEP’s Jessica Schieder wrote that two proposals before Congress would take taxpayers in opposite directions. One was a bill… -
blog
June 5, 2019
State Rundown 6/5: Illinois Gets Busy
Illinois made big news in several tax and budget areas recently, including sending a graduated income tax amendment to voters in 2020, as well as legalizing and taxing cannabis and updating gas and cigarette taxes for infrastructure improvements. Connecticut made smaller waves with sales tax reforms, a plastic bag tax, and a progressive mansion tax. Property tax credits were proposed in both Maine and New Jersey. And Nevada extended a business tax to give teachers a raise. And our What We’re Reading section is brimming with good reads on how states are doing with recovering from the Great Recession, funding education, using cannabis tax revenues, and improving Earned Income Tax Credits (EITCs).
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blog
June 5, 2019
Tax Credit Wins and Continued Debates in the States
Income inequality continues to be an undercurrent in public discourse about our economy and how working families are faring. It drove the national debate over… -
blog
June 5, 2019
ITEP Resources on Proposed SALT Workaround Regulations
After states implemented laws that allow taxpayers to circumvent the new $10,000 cap on deductions for state and local taxes (SALT), the IRS has proposed regulations to address this practice. It’s a safe bet the IRS will try to crack down on the newest policies that provide tax credits for donations to public education and other public services, but it remains to be seen whether new regulations will put an end to a longer-running practice of exploiting tax loopholes in some states that allow public money to be funneled to private schools.
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blog
June 4, 2019
File Under “No Surprise”: Wealthiest Taxpayers Use Offshore Tax Shelters More Than the Rest of Us, New Research Finds
Tax evasion matters. It drains needed revenues from the public treasury, and saps public confidence in rules of the game. A recent Pew Research poll… -
blog
June 4, 2019
Things Get Worse for Uber: Ride-Sharing Giant’s Taxes Under Scrutiny
Since Uber’s much-hyped initial public offering last month, the news has been relentlessly bad for the scandal-plagued ride-sharing company. The company’s share price has fallen…
