June 4, 2019 • By Matthew Gardner
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 finds that 60 percent of Americans are bothered “a lot” by the feeling that the best-off don’t pay their fair share of taxes. And now, thanks to a new report, […]
June 4, 2019 • By Matthew Gardner
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 by 8 percent from its initial $45, meaning that billions of dollars of the company’s apparent value have vanished. This week the news got a little worse: Uber is under […]
From a new report comparing five major federal tax credit proposals to resources for continuing gas tax debates and the launch of ITEP's interactive library On the Map, here’s a summary of ITEP news this month.
May 30, 2019 • By Matthew Gardner
This new report is the most comprehensive assessment yet undertaken by the CRS, which has an unimpeachable reputation as an impartial arbiter of policy disputes. So, when it says that the TCJA doesn’t appear to have grown wages or the economy and has made our long-term budget deficits even worse, it’s a judgment that will last.
Like certain recent controversially concluded television shows, tax and budget debates can end in many ways and often receive mixed reviews. Illinois leaders, for example, ended on a cliffhanger by approving a historic constitutional amendment to create a graduated income tax in the state, whose ultimate conclusion will be crowdsourced by voters next November. Arizona’s fiscal finale fell flat with many observers due to corner-cutting on needed investments and a heavy focus on tax cuts. Texas legislators went for crowd-pleasing property tax cuts and school funding increases but left a gigantic “but how will we pay for this” plot hole…
In 1986, Rhode Island became the first state to enact a tax credit patterned after the federal Earned Income Tax Credit (EITC). Since then, EITCs have become increasingly widespread at the state level with 28 states and the District of Columbia now offering them. These credits are designed to improve family economic security by bolstering […]
May 24, 2019 • By Alan Essig
Using the tax code to boost the economic security of low- and moderate-income families is a proven strategy. These bold proposals would go much further than any policy currently on the books, and their approach directly contrasts with longstanding supply-side theories that call for continual tax cuts to those who are already economically faring far better than everyone else.
One of the most important decisions that must be made when designing a state personal income tax is whether to charge taxpayers a single flat rate on all their taxable income, or whether to levy a series of graduated rates that ask more of high-income taxpayers
May 22, 2019 • By ITEP Staff
Lawmakers and advocates can enjoy their barbeques with only one eye on their work email this weekend in states that have essentially finished their budget debates such as Alaska, Minnesota, Nebraska, and Oklahoma, though both Alaska and Minnesota require special sessions to wrap things up. Getting to those barbeques may be a bumpy ride in Louisiana, Michigan, and other states still working to modernize outdated and inadequate gas taxes.
May 22, 2019 • By Steve Wamhoff
A new ITEP report examines five big proposals that have been announced this year to create or expand tax credits to address inequality and help low- and middle-income households.