Recent Work
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Several state legislatures are continuing to push ahead this year with significant tax cut packages that are regressive and would dramatically reduce revenues and leave states in a bad position should they experience another unexpected economic shock...
New Jersey Policy Perspective: Making New Jersey Affordable for Families – The Case for a State-Level Child Tax Credit
February 23, 2022 • By ITEP Staff
A state-level child tax credit would recognize the unique costs of raising children and the support that most families need to care for their kids and set them up for success. When families can pay for basic expenses and save for their children’s futures, it improves child well-being immediately by reducing key costs like food […]
Sen. Scott and others who favor shifting taxes away from the rich and down the income distribution often focus solely on the federal personal income tax and ignore all the other taxes that Americans pay.
The Federal Gas Tax Holiday is Not a New Idea, Just a Bad One
February 17, 2022 • By Steve Wamhoff
The argument for suspending the gas tax, which would cost $20 billion, is weaker than ever.
State Rundown 2/16: Spending Priorities Emerge as the Votes Are Counted
February 16, 2022 • By ITEP Staff
State lawmakers have been busy working out deals and negotiating how best to use excess revenues, and as the votes are beginning to come in, spending priorities are becoming clearer...
It’s become popular to urge people to imagine a better world. But on tax policy, the last year gives us ample evidence that lets us move far beyond imagining.
West Virginia Center on Budget and Policy: House Personal Income Tax Cut Plan Largely Benefits Wealthy, Not Fiscally Sustainable
February 15, 2022 • By ITEP Staff
The West Virginia Legislature has introduced a bill to cut and eventually eliminate the state’s personal income tax. The House Finance Committee voted to advance that bill to the House floor with no discussion or questions asked. Like previous attempts to eliminate the state’s income tax, HB 4007 would lead to major revenue losses for the […]
Oklahoma Policy Institute: Strengthening the Grocery Tax Credit Would Provide Fiscally Smart Tax Relief to Working Oklahomans
February 14, 2022 • By ITEP Staff
Oklahoma can effectively eliminate the state and local sales tax on groceries for most low-income families by strengthening the Sales Tax Relief Credit. At a time when many Oklahomans are struggling to put food on the table and are at risk of eviction, a more robust Sales Tax Relief Credit can help put money back into the pockets […]
While record state revenue surpluses have led to big pushes in red states to make unnecessary permanent income and corporate tax cuts, Democrats are also getting in on the tax-cut mania...
Common Good Iowa: New Income Tax Cuts – a Recipe for Disaster and Inequity
February 10, 2022 • By ITEP Staff
Iowa lawmakers have repeatedly cut taxes over the last three decades in ways that provide the greatest benefits to the highest-income taxpayers while ratcheting down investments that historically made the state attractive to raise a family or do business — including public schools and public health. Now, within months of passing tax cuts that when […]
More Than One in Three Young Workers Would Benefit from EITC Reforms in Build Back Better Plan
February 8, 2022 • By Aidan Davis
Although the EITC expansion did not receive as much attention as the expanded Child Tax Credit, a new ITEP report shows the positive impact of allowing young workers without children in the home to maintain access to one of the nation’s most significant and effective anti-poverty programs.
Federal EITC Enhancements Help More Than One in Three Young Workers
February 8, 2022 • By Aidan Davis
More than one in three young adults would benefit from workers without children being eligible to receive the federal EITC. This policy change would bolster young adults’ economic security.
Amazon Avoids More Than $5 Billion in Corporate Income Taxes, Reports 6 Percent Tax Rate on $35 Billion of US Income
February 7, 2022 • By Matthew Gardner
Amazon avoided about $5.2 billion of federal income tax on its record $36 billion in U.S. pretax income for fiscal year 2021.
Idaho Center for Fiscal Policy: HB 436 Tax Cuts Benefit Wealthy Idahoans
February 7, 2022 • By ITEP Staff
The tax cuts proposed in HB 436 would benefit wealthy Idahoans the most. The bill would also collapse the state’s five tax brackets to four, and would lower the income tax rate on the wealthiest tax bracket from 6.5% to 6%. Read more
Idaho Center for Fiscal Policy: Idaho Families Would Benefit From Move to Include More Children in State’s Child Tax Credit
February 7, 2022 • By ITEP Staff
From housing to child care, hard-working Idaho families face high costs in our growing state. Since 2018, Idaho’s tax code has supported families through the state Child Tax Credit (CTC). In the American Rescue Plan Act (ARPA), Congress approved a temporary change to expand the definition of “child” to include 17-year-olds in tax year 2021. […]
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