Steve Wamhoff
Steve Wamhoff is ITEP’s director of federal tax policy. In this role, he is responsible for setting the organization’s federal research and policy agenda. He is the author of numerous reports and analyses of federal tax policies as well as in-depth policy briefs that outline how the federal income tax and corporate tax code can be overhauled to improve tax fairness.
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media mention June 2, 2020 Minneapolis Star Tribune: Minnesota Companies Cashing in on CARES Act Business Tax Breaks
Other taxation watchdogs call it a windfall, and one that disproportionately benefits large companies with volatile earnings, not the neighborhood auto shop or hair salon whose business vanished in the… -
media mention May 30, 2020 Salon.com: About 75% of Trump’s Proposed Coronavirus Capital Gains Tax Cut Would Go to the Top 1% of Earners
Steve Wamhoff, the director of federal tax policy at the liberal-leaning Institute on Taxation and Economic Policy (ITEP), argued that “proponents of capital gains tax breaks have always offered a… -
media mention April 14, 2020 The Hill: Business tax provisions in coronavirus relief law spark controversy
“Even someone who believes that Congress could loosen these laws to help businesses deal with the crisis would have to come to the conclusion that the CARES Act went way… -
media mention April 6, 2020 CNBC: When Will the Money Arrive
Right now, the answer is that you will still get a stimulus payment. But that may have to wait until you eventually file your 2020 tax return next spring. “Anything… -
media mention March 19, 2020 CNBC: A tale of two coronavirus relief efforts: One for the rich, one for the poor
Two financial-relief measures the Trump administration is weighing to fight the economic scourge of the coronavirus would have drastically different impacts on the rich and poor, according to a new… -
media mention March 4, 2020 Market Watch: This is how much American workers saved during the first year after Trump tax overhaul
Focusing on personal taxes didn’t tell the whole story, according to Steve Wamhoff, director of federal tax policy at the progressive Institute on Taxation and Economic Policy, or ITEP. “The… -
media mention February 25, 2020 The Hill: Financial trade tax gains traction with 2020 Democrats
Democratic presidential candidates across the ideological spectrum are calling for taxes on financial trades, breathing new life into an idea that for many years was promoted primarily in progressive circles.… -
media mention February 12, 2020 Yahoo! Finance: In Search of the ‘Disappearing Corporate Income Tax’
Those losses, driven by generous rule-writing and interpretations of the 2017 tax law by the U.S. Treasury, are so substantial that they were deemed “tax cuts 2.0” by the liberal-leaning… -
media mention January 17, 2020 McClatchy: Lifting the Cap on This Tax Break Would Benefit California’s Rich
The figures were developed by the nonpartisan Institute on Taxation and Economic Policy. to project the likely effects if the Democrats’ proposal went into effect in 2022. That’s likely the… -
media mention January 6, 2020 Capital and Main: Two Years Later: What Has Trump’s Tax Law Delivered?
Promise: “We’re also going to eliminate tax breaks and complex loopholes taken advantage [of] by the wealthy.” – President Trump, November 29, 2017. Reality: The law kept tax loopholes in place and added new… -
media mention December 22, 2019 Quartz: Two Years into Trump’s Tax Cut, the Results Are Not Promising
Despite what the Democrats claimed, most people did actually pay less tax. But the wealthy got a far bigger cut than the rest of society, according to various studies. Next… -
media mention December 19, 2019 Washington Post: House Narrowly Passes Bill That Would Restore SALT Tax Benefits to Higher-income Americans
“This mostly benefits rich people,” Steve Wamhoff, a tax analyst at the Institute on Taxation and Economic Policy (ITEP), a left-leaning think tank, said of repealing the SALT cap. “There’s… -
media mention December 17, 2019 Bloomberg Tax: Tax Perk to Boost Investment May Work—For Small Businesses
The 2017 tax law allowed businesses to use full expensing, or 100% bonus depreciation, for both new and used assets, a benefit that begins phasing out in 2023. Republicans heralded… -
media mention November 26, 2019 The News Tribune: How Did Tacoma Do Under Trump Tax Cuts? You Can Calculate it for Yourself
President Donald Trump has said it’s time to consider another tax cut — as evidence mounts that wealthier taxpayers in the Tacoma area and around the nation benefited a lot… -
media mention November 14, 2019 USA Today: Trump Is Floating Another Tax Cut. But the Last Thing We Need Is More Breaks for the Rich.
Why is it so important that the rich pay more? Those at the top benefit much more from all the public investments we finance with our tax dollars. President Donald… -
media mention November 7, 2019 Capitol and Main: Trump Boasts of Economic Growth as Inequality Deepens
A second term for Trump would likely mean a doubling down on his inequality exacerbating tax and regulatory agenda. “There will be more tax cuts and further inequality,” said Steven… -
media mention November 7, 2019 Fast Company: While Trump Boasts of Economic Growth, Inequality Deepens
“There will be more tax cuts and further inequality,” said Steven Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy. Republicans have already proposed… -
media mention October 24, 2019 ProPublica: How a Tax Break to Help the Poor Went to NBA Owner Dan Gilbert
The upside for an investor such as Gilbert “could be huge,” said Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy, a liberal-leaning think… -
media mention October 23, 2019 The Hill: Senate Rejects Dem Measure to Overturn IRS Rules on SALT Deduction Cap
Lawmakers will have a major opportunity to revisit the GOP tax law at the end of 2025, when the SALT deduction cap and the law’s other tax changes to the… -
media mention October 3, 2019 The Fiscal Times: Would a Warren/Sanders Wealth Tax Kill the Economy?
Steve Wamhoff, director of federal tax policy at the liberal Institute on Taxation and Economic Policy, said Wednesday cited the public investments that could be financed with revenues from the… -
media mention August 23, 2019 The Hill: Conservatives Push Trump Tariff Relief over Payroll Tax Cuts
And conservatives aren’t the only critics of a potential payroll tax reduction. Steve Wamhoff, director of federal tax policy at the left-leaning Institute on Taxation and Economic Policy, said there… -
media mention August 22, 2019 BBC: Three Ways Trump Could Juice the Economy
The policy was last used during the Obama administration in the wake of the 2008 financial crisis when it faced huge pushback from Congressional Republicans. In 2011 and 2012, the… -
media mention August 1, 2019 Wall Street Journal: Going Out of Style: Tax-Driven Deals to Move Corporate HQs Outside U.S.
Through mergers, companies such as Allergan, Mylan, Medtronic and Johnson Controls PLC moved tax addresses abroad. The companies were often managed from the U.S. “It was always a fiction that they… -
media mention July 31, 2019 Washington Times: 2020 Democratic Candidates Put Trump’s Corporate Tax Rate Cut in Crosshairs
Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy, agreed that the rate alone isn’t enough. “If we raise the corporate income tax rate… -
media mention July 14, 2019 The Hill: 2020 Democrats Push Tax Hike on Wealthy Investors
Former President Obama proposed raising capital gains rates for high earners to 28 percent, still short of the top ordinary income tax rate. During the 2016 presidential campaign, Democratic nominee…