Institute on Taxation and Economic Policy

Recent Work

2061 items
Congressional Republicans Distort a New Report on the Global Minimum Tax

The notion that we are better off allowing our corporations to pretend their profits are earned in the Cayman Islands or Ireland simply defies logic and the facts. There is no scenario in which the U.S. would be better by ditching the international agreement that the government already negotiated. 

State Rundown 6/22: Some Tax Debates Heat Up as Others Cool Off

Summer is here and many states nearing the end of their legislative sessions. Temperatures are rising in more ways than one in some state legislatures while others seem to be cooling off.

State Rundown 6/14: Summer Breeze & State Tax Policies

As the sweet days of summer pass, the scent of jasmine isn't the only thing blowing through the minds of state lawmakers, as tax policy discussions remain at the forefront...

Expanding the Child Tax Credit Would Help Nearly 60 Million Kids, Especially Those in Families with Low Incomes

Restoring the federal Child Tax Credit to 2021 levels would benefit nearly 60 million children. Three-quarters of the benefit would go to families in the bottom three quintiles, consisting of households with less than $86,600 in income.

Illinois Voucher Tax Credits Don’t ‘Invest in Kids,’ They Invest in Inequality

By allowing their school privatization tax credit to expire at the end of the year, Illinois lawmakers can take a meaningful step toward better tax and education policy, and a clear show of support for our nation’s public education system.

Trio of GOP Tax Bills Would Expand Corporate Tax Breaks While Doing Little for Americans Who Most Need Help

The trio of tax bills that cleared the House Ways and Means Committee in June include tax cuts that would mostly benefit the richest one percent of Americans and foreign investors.

Read as PDF Re: Recommendation for Inclusion of Section 1001 Regulation in 2023-2024 Priority Guidance Plan To Whom It May Concern, We are writing to respectfully urge that the IRS return to the work it left unfinished in 2019 when it issued final regulations on “Contributions in Exchange for State or Local Tax Credits” (RIN: […]

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State Rundown 6/7: The Budget Race Continues

June 7, 2023 • By ITEP Staff

State Rundown 6/7: The Budget Race Continues

Across the country, the marathon budget season has held pace, with a steady stream of bills continuing to cross the finish line...

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The Real Impact of State Tax Cuts

June 5, 2023 • By Aidan Davis

The Real Impact of State Tax Cuts

This op-ed was originally published by Route Fifty and co-written by ITEP State Director Aidan Davis and Center on Budget and Policy Priorities Senior Advisor for State Tax Policy Wesley Tharpe. There’s a troubling trend in state capitols across the country: Some lawmakers are pushing big, permanent tax cuts that primarily benefit the wealthy and […]

Debt-Limit Deal’s Provision to Let Tax Cheats Off the Hook Will Increase the Deficit

The latest debt-limit bill in Congress includes a provision to claw back important IRS funding meant to crack down on wealthy tax cheats. This cut in funding would actually increase the deficit while continuing the rig the system in favor of the most well-off.

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State Rundown 6/1: State Revenue Highs and Lows

June 1, 2023 • By ITEP Staff

State Rundown 6/1: State Revenue Highs and Lows

Short-sighted tax cuts continue to make their way to Governors’ desks this week. In Florida, Gov. DeSantis signed a $1.3 billion tax cut package with $550 million of the tax cuts from sales tax holidays, alone. The Nebraska legislature also sent $6.4 billion in tax cuts to Gov. Pillen’s desk which includes an enormous personal income tax cut that will reduce taxes on the top 1 percent by tens of thousands of dollars.

Congress Should Consider Attaching Work Requirements to the Biggest Tax Break for the Rich

Instead of focusing on low-income people who are already mostly employed or facing significant barriers to employment, lawmakers who want to encourage labor force participation should revisit existing tax breaks subsidizing wealthy individuals who live off their assets rather than work.

State Rundown 5/25: The North Star State Leads the Way on Tax Fairness

As we approach the midpoint of 2023, it’s a good time to look back at the progress states have made in the name of tax fairness and equity...

Circuit Breakers and Other Income-Based Property Tax Programs in 2023

No tax cut offers a more targeted solution to property tax affordability problems than circuit breaker credits. This is because circuit breakers are the only tools for reducing property taxes that measure the affordability of property taxes relative to families’ ability to pay. Circuit breakers protect families from property tax “overload” much like how traditional […]

State Rundown 5/18: Credits, Cuts, and Corporate Revenue Raisers

This past week, in statehouses around the country, tax policy decisions are moving fast as budgets were signed and budget plans were released and passed...

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