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 July 1, 2019 Nevada Business: Taxes and Nevada: The Give and Take
Many of those breaks and loop holes were left in place by the new policies, said Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic… -
media mention June 27, 2019 Washington Post: Democratic presidential candidates engage in ‘arms race to the left’ in first debate
On taxes, many of the candidates also emphasized their more left-leaning ideas to raise rates on corporations and make the tax system more progressive, while none touted plans to keep… -
media mention June 24, 2019 The Hill: Dems Talk up Tax Credits to Counter Trump Tax Law
The left-leaning Institute on Taxation and Economic Policy (ITEP) released a report last month finding that the bulk of the benefits for many of Democrats’ tax-credit proposals would go to… -
media mention June 10, 2019 Bloomberg: When an Eight-Figure IPO Windfall Can Mean a Zero-Digit Tax Bill
It’s supposed to help young companies attract capital. The congressional Joint Committee on Taxation says the provision costs the U.S. Treasury $1.3 billion a year. “There is no evidence that… -
media mention May 31, 2019 Yahoo! Finance: Corporations Paid $91 Billion Less in Taxes in 2018 under Trump’s Tax Law
“There are a lot of breaks and loopholes that allow a company not to pay,” said Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic… -
media mention May 9, 2019 ABC News: Trump Lobbied for Tax Loopholes in the 1990s
The sweeping, bipartisan law that Trump railed against was popular in both Democrat and Republican circles, as it got rid of numerous loopholes, reduced tax-code chicanery and lowered tax rates… -
media mention May 8, 2019 The Hill: Tax Prep Companies Under Fire over Free File Program
Steve Wamhoff, director of federal tax policy for the left-leaning Institute on Taxation and Economic Policy, said that it’s inevitable that when private companies are tasked with offering a public… -
media mention April 24, 2019 New York Times: Dealbook Briefing
“There’s a general rule that you’re not supposed to be able to claim losses for more than you put into a deal,” Steve Wamhoff, director of federal tax policy at… -
media mention April 24, 2019 Bloomberg: Want to Make Millions and Pay No Taxes? Try Real Estate
“There’s a general rule that you’re not supposed to be able to claim losses for more than you put into a deal,” says Steve Wamhoff, director of federal tax policy… -
media mention April 15, 2019 CNN: Four Ways Trump’s Tax Cuts Changed the Economy
Congress has yet to take up spending cuts to big-ticket items like Medicare and Social Security that the White House had proposed to curb deficits. Still, mounting debt makes conversations… -
media mention April 13, 2019 The Intercept: Don’t Fall for the Right’s Favorite Lie About Taxes
So what does the overall U.S. tax system look like when you take all of this into account? The Institute on Taxation and Economic Policy, or ITEP, a progressive Washington,… -
media mention April 12, 2019 Think Progress: Trump Tax ‘Cut’ Actually Increased Taxes for 10 Million American Families, Report Finds
The Center for American Progress released its calculations on Friday, based on data from the non-partisan Institute on Taxation and Economic Policy. It found that 10,260,263 American families saw a… -
media mention April 12, 2019 Yahoo! Finance: Not Just Amazon: 60 Big Companies Paid $0 in Taxes under Trump Law
Big businesses are faring better than ever under the Trump era tax law, the Tax Cuts and Jobs Act (TCJA). According to analysis from the Institute on Taxation and Economic Policy (ITEP),… -
media mention April 9, 2019 Fast Company: Soak the Rich but How?
“Right now, the personal income tax has all kinds of special breaks,” says Steve Wamhoff, the director of federal tax policy at the Institute on Taxation and Economic Policy, who… -
media mention April 3, 2019 New York Times: A Man with a Plan for Inequality
Their largest holdings often include stocks. Which means that the lower tax rate on capital gains, combined with the deferral of taxing them, has enormous financial consequences, as Steve Wamhoff,… -
media mention April 3, 2019 CNBC: What the Wyden-Proposed Tax on Unrealized Capital Gains Might mean for You
Marking an asset to market means that you’re treating it as if you’ve sold it for fair market value at the end of the year, accounting for the gain or… -
media mention April 2, 2019 Bloomberg: Key Democrat Revives Plan to Make Capital Gains Tax Due Annually
And Steve Wamhoff, the director of federal tax policy at the left-leaning Institute on Taxation and Economic Policy, said the bill “would certainly slow down the ability of billionaires to… -
media mention February 20, 2019 New York Observer: Amazon Paid $0 in Federal Taxes Despite Making $11 Billion in 2018—And No One Knows Why
You may feel like a champion financial planner after filing last year’s income taxes, even though you did pay a hefty fee to an accountant or some tax software. But… -
media mention February 16, 2019 Yahoo! Finance: Amazon Will Pay $0 in Taxes on $11,200,000,000 in Profit for 2018
“It’s hard to know exactly what they’re doing,” said Steve Wamhoff, ITEP’s Director of Federal Tax Policy. “In their public documents they don’t lay out their tax strategy. So it’s unclear exactly which breaks [the company is taking advantage of]. They vaguely say tax credits. One could think of many different ways a corporation could do this, like the depreciation breaks which were expanded under TCJA.”
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media mention February 5, 2019 Washington Post: Live Commentary on Trump’s SOTU
E.J. DIONNE JR., 9:27 p.m.: “A massive tax cut for working families.” Really? “If you look at the richest 1 percent, they’re getting more than the bottom 60 percent of… -
media mention January 28, 2019 The Hill: Warren Stakes out Ground with Wealth Tax Proposal
Steve Wamhoff, director of tax policy at the Institute on Taxation and Economic Policy, said middle-income Americans are essentially already taxed on their wealth because most of it is in… -
media mention January 24, 2019 Politico: Let’s Talk Wealth Tax
Steve Wamhoff at the Institute on Taxation and Economic Policy projects that a wealth tax could raise well over $1 trillion in a decade, and notes that wealth inequality far… -
media mention December 11, 2018 Washington Post: In Early Win for Party’s Left, House Democrats Back off Tax Rule
Henry Connelly, a spokesman for Pelosi, said the rule was unnecessary to prevent Democrats from hiking taxes on the middle class. He also noted that House Republicans waived their rule… -
media mention November 16, 2018 Washington Post: Democrats Face Early Division in Rules over Taxes
The richest fifth of taxpayers are those who make more than $108,000 annually, said Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy. Some… -
October 5, 2018 Concerned about Trump-family tax gaming? His law may prompt others to dodge.
“The IRS is wildly outgunned,” says Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy, a think tank in Washington. “You can’t keep cutting IRS funding and not expect more things like what The New York Times wrote about the Trumps. That’s bound to happen even more now.”