Recent Work
2118 items
Expanding the Child Tax Credit Would Help Nearly 60 Million Kids, Especially Those in Families with Low Incomes
June 13, 2023 • By Joe Hughes
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
June 12, 2023 • By Carl Davis
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
June 11, 2023 • By Steve Wamhoff
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.
Letter to IRS on Section 1001 Regulation in 2023-2024 Priority Guidance Plan
June 9, 2023 • By ITEP Staff
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: […]
Across the country, the marathon budget season has held pace, with a steady stream of bills continuing to cross the finish line...
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
June 1, 2023 • By Jon Whiten
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.
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
May 25, 2023 • By Steve Wamhoff
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
May 24, 2023 • By ITEP Staff
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
May 19, 2023 • By ITEP Staff
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 […]
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...
States are Talking About the Wrong Kind of Property Tax Cuts
May 11, 2023 • By Brakeyshia Samms, Carl Davis
Concerns over property tax affordability have been at the forefront this year as housing prices have climbed and property tax bills have often increased along with them. As lawmakers mull a range of property tax cuts, circuit breakers are the best possible approach—and these policies are receiving far too little attention in the states.
Preventing an Overload: How Property Tax Circuit Breakers Promote Housing Affordability
May 11, 2023 • By Brakeyshia Samms, Carl Davis
Circuit breaker credits are the most effective tool available to promote property tax affordability. These policies prevent a property tax “overload” by crediting back property taxes that go beyond a certain share of income. Circuit breakers intervene to ensure that property taxes do not swallow up an unreasonable portion of qualifying households’ budgets.
State Rundown 5/10: Momentum on State Tax Credits Continues to Build
May 10, 2023 • By ITEP Staff
This week, in states across the country the momentum to center improvements to family economic security remains strong...
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
Subscribe to ITEP Emails
Tax research and policy news in your inbox.
Promote Fair Tax Policy
Your gift to ITEP promotes tax justice. With your help, we do research that supports taxing millionaires and billionaires, taxing big corporations and raising revenue for the things our people, our communities and our planet need.
Together, we can create a country with more economic justice, more racial justice, more climate justice… and more tax justice.