Build Back Better
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blog June 30, 2022 No Reason to Water Down the Tax Reforms in the Build Back Better Act
There is no justification for recently reported efforts to scale back the tax reforms in the Build Back Better Act, a bill passed by the House of Representatives in November… -
blog February 16, 2022 Imagine a Better Tax Code, Use Evidence to Make It Real
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.
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blog February 8, 2022 More Than One in Three Young Workers Would Benefit from EITC Reforms in Build Back Better Plan
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.
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blog January 31, 2022 Build Back Better’s Tax Provisions Would Help Advance Racial Equity
Build Back Better can help ensure that all people are provided with the chance to lead healthy lives, have access to quality education, are treated fairly and justly, and thrive in today’s economy.
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blog January 25, 2022 Why Tax Reform Should Remain on the Table
In this country, wealthier than any other and wealthier than we’ve ever been, we can create a smarter, more equitable tax code that better taxes those most able to pay.
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report January 25, 2022 Revenue-Raising Proposals in the Evolving Build Back Better Debate
The United States needs to raise more tax revenue to fund investments in the American people. This revenue can be obtained with reforms that would require the richest and wealthiest Americans to pay their fair share to support the society that makes their fortunes possible.
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blog December 17, 2021 Pandemic Policies Demonstrate Government Can Address Widening Economic Inequality If Policymakers So Choose
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.
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blog December 9, 2021 Tax Credits in Build Back Better Support Millions of Families
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.
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media mention November 24, 2021 CNN Business: This Tax Would Make Wealthy Corporations Pay Their Fair Share
Corporate America has perfected the art of dodging the taxes that everyone else pays. From 2018 to 2020, 39 of the largest companies in America paid zero dollars in federal… -
news release November 19, 2021 House Passage of Build Back Better Bill Moves America’s Tax Code in the Right Direction
The Build Back Better plan that the House passed today will transform the country and make our tax code more progressive, more equitable and better able to pay for crucial priorities.
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blog November 18, 2021 Key Reform in Build Back Better Act Would Close Loophole Used by the Rich To Avoid Funding Healthcare
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.
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blog November 18, 2021 Tax Credit Reforms in Build Back Better Would Benefit a Diverse Group of Families
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.
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report November 18, 2021 Analysis of the House of Representatives’ Build Back Better Legislation
If the bill becomes law, in 2022 federal taxes would go up for the average taxpayer among the richest one percent and down for the average taxpayer in other income groups.
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news release November 15, 2021 ITEP Statement on President Biden Signing the Infrastructure Investment and Jobs Act
America does better when we invest in our people, our places and our planet. The infrastructure bill that President Biden signed today will restore and strengthen our physical infrastructure, making repairs and improvements that are long overdue. Now Congress needs to take the next step and pass legislation that taxes wealthy people and corporations to pay for our care and climate infrastructure.
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blog October 28, 2021 Tax Provisions in the White House Build Back Better Framework: The Good and Bad
The tax provisions in the Build Back Better framework released by the White House today include enormously helpful reforms but also some disappointments. The good news is that the plan would raise nearly $2 trillion over a decade from those who can afford to pay–the richest Americans and large, profitable corporations. The bad news is that some fundamental problems with our tax code would remain unaddressed.
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blog October 27, 2021 A Surprising Idea from the Era of Reaganomics
President Reagan is lionized by many for cutting taxes and government. But the story is more complicated. Reagan knee-capped regulation and much domestic spending, and early in his administration he… -
report September 23, 2021 Repealing the SALT Cap Would Wipe Out Revenue Raised by the House Ways and Means Bill’s Income Tax Provisions
There are several ways that the House leadership could avoid this problem. One approach is for lawmakers to replace the SALT cap with a different kind of limit on tax breaks for the rich that actually raises revenue and avoids disfavoring some states compared to others as the SALT cap does. ITEP has suggested a way to do this.
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blog September 2, 2021 It’s Not About Farms: Don’t Let Lies Crush Biden’s Tax Plan
Several former Democratic members of Congress have joined a campaign to misrepresent President Biden’s proposal to close a huge tax loophole for wealthy people with capital gains. This proposed reform is the cornerstone of the president’s tax plan. If lawmakers fall for the lies, Biden’s plan will collapse. Instead, they should do what is both popular and fair: enact the plan intact so that millionaires and billionaires no longer escape the federal income tax.