Recent Work
2062 items
The new year often brings with it a reinvigorated commitment to new goals and a fresh perspective on how to accomplish them, but it seems like lawmakers in states around the country are giving up already...
Why Treasury’s Pending Race-Based Analysis of Stimulus Payments is Important
December 21, 2021 • By Emma Sifre
One important data inadequacy is the lack of demographic information in tax data. While the IRS data offers rich data on taxpayer income, it does not collect information on important demographic characteristics like race and ethnicity. This presents a challenge for researchers interested in the racialized impacts of the U.S. tax system and has prompted many researchers and organizations to advocate for public-use tax data that is disaggregated by race and ethnicity.
Pandemic Policies Demonstrate Government Can Address Widening Economic Inequality If Policymakers So Choose
December 17, 2021 • By ITEP Staff, Jenice Robinson, Joe Hughes
We are surrounded by evidence that economic inequality is spinning out of control, yet we also see straightforward examples of how government can stop the downward spiral should it choose to do so. The Build Back Better Act, which invests in communities and ensures the wealthy and corporations pay their fair share, is one such example. Congress should pass it.
State Rundown 12/15: Making Our State Tax Naughty or Nice List & Checking it Twice
December 15, 2021 • By ITEP Staff
As the holiday season kicks into full gear, we’re putting the finishing touches on our State Tax Naughty or Nice list, and it looks like some late entrants are making a good case to be included...
ITEP Data on Child Tax Credit and Earned Income Tax Credit Provisions Before Congress
December 14, 2021 • By Steve Wamhoff
Congress expanded the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) for 2021 as part of the American Rescue Plan Act (ARP). The additional benefits that millions of families and workers received under that law will end this month if Congress does not act soon. The CTC expansion boosted the annual tax credit […]
President Biden’s American Families Plan (AFP) would use personal income tax increases on very well-off individuals to finance investments in people—in childcare, education, higher education, reducing child poverty, and other related measures. The following analyses provide more information about the revenue proposals in the AFP.
The EITC and CTC are proven poverty-fighting tools. The monthly CTC payments alone kept 3.6 million people out of poverty in October. This policy success is worth repeating.
The Commonwealth Institute: Tax Proposals Would Reduce Resources for Education, Transportation, and Other Priorities
December 8, 2021 • By ITEP Staff
The incoming Youngkin administration and state lawmakers have proposed several major tax proposals to reduce taxes for individuals and businesses. These include one-time tax rebates, dramatically increasing the state standard deduction, eliminating the state and local sales tax on groceries, and pausing the recent increase to the fuels tax. While some of these policy ideas […]
Latest Proposal from Senate Democrats Would Bar the Rich from SALT Cap Relief
December 7, 2021 • By Steve Wamhoff
Richest taxpayers would receive $0 benefit under new compromise compared with 51 percent of the benefit of House-passed SALT provision DOWNLOAD NATIONAL AND STATE-BY-STATE ESTIMATES In the latest chapter of the saga over SALT, some Senate Democrats are discussing a new compromise that would amend the House-passed provision providing relief from the SALT cap to […]
Here at ITEP we want to give thanks and say we’re grateful for all of the hard work that advocates in states across the country are doing to secure progressive tax policy victories...
Key Reform in Build Back Better Act Would Close Loophole Used by the Rich To Avoid Funding Healthcare
November 18, 2021 • By Joe Hughes
The proposal in the Democrats’ Build Back Better proposal applies the 3.8 percent Net Investment Income Tax to all profit distributions from partnerships and S-corporations so that this income of wealthy pass-through business owners no longer escapes.
Tax Credit Reforms in Build Back Better Would Benefit a Diverse Group of Families
November 18, 2021 • By Aidan Davis
The CTC and EITC provisions would have a particularly profound effect on the poorest 20 percent of Americans, who all will have incomes of less than $22,000 in 2022. Taken together, the EITC and CTC changes would lift the average income of these households by more than 10 percent.
Report Illustrates How 70 Corporations Could Be Affected by Minimum Tax Proposal in the Build Back Better Act
November 18, 2021 • By Matthew Gardner
Amazon, Bank of America, Facebook, FedEx, General Motors, Google, Netflix, PayPal, T-Mobile and Verizon are just a few of the 70 corporations that would have paid more taxes under the Democrats’ proposed Corporate Profits Minimum Tax (CPMT) if it had been in effect in 2020 according to a new report from Sen. Elizabeth Warren’s office with estimates verified by the Institute on Taxation and Economic Policy.
State Rundown 11/10: It’s Beginning to Look a Lot Like…Election Season?!
November 10, 2021 • By ITEP Staff
If the leaves are turning colors and you find yourself walking out of the office into pitch-black darkness, it only means that time of the year is upon us—and no, I'm not talking about the holiday season. Before that, it’s the equally important election season...
Paying The Estate Tax Shouldn’t Be Optional for the Super Rich
November 9, 2021 • By Carl Davis
ProPublica this year released multiple exposés revealing how the nation’s wealthiest individuals and families avoid taxes on an unimaginable scale. Most recently, it uncovered Republican and Democratic elected officials and political appointees who used complex strategies to avoid taxes. Richard Painter, a White House ethics lawyer under George W. Bush, said these revelations should be “troubling […]
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