This week, Oklahoma lawmakers learned they’ll need to enter a special session to balance their budget and that they’ll likely face a lawsuit over their low funding of public education. Pennsylvania’s budget stalemate is also coming to a head as the state literally runs out of funds to pay its bills. And Amazon’s tax practices are in the news again as the company has been sued in South Carolina.
Connecticut
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blog August 23, 2017 State Rundown 8/23: Few Lingering Budget Debates Cannot Linger Much Longer
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August 17, 2017 In Connecticut 60.2 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Connecticut population (0.9 percent) earns more than $1 million annually. But this elite group would receive 60.2 percent of the tax cuts that go to Connecticut residents under the tax proposals from the Trump administration. A much larger group, 38.6 percent of the state, earns less than $45,000, but would receive just 1.9 percent of the tax cuts.
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blog August 9, 2017 State Rundown 8/9: And Then There Were Three
This week, Rhode Island lawmakers agreed on a budget, leaving only three states – Connecticut, Pennsylvania, and Wisconsin – without complete budgets. Texas, however, remains in special session and West… -
July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Connecticut with 62.8 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Connecticut would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $3,682,800 in 2018. They would receive 62.8 percent of the tax cuts that go to Connecticut’s residents and would enjoy an average cut of $253,050 in 2018 alone.
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blog July 19, 2017 State Rundown 7/19: Handful of States Still Have Their Hands Full with Tax and Budget Debates
Tax and budget debates drag on in several states this week, as lawmakers continue to work in Alaska, Connecticut, Rhode Island, Pennsylvania, Texas, and Wisconsin. And a showdown is brewing in Kentucky between a regressive tax shift effort and a progressive tax reform plan. Be sure to also check out our “What We’re Reading” section for a historical perspective on federal tax reform, a podcast on lessons learned from Kansas and California, and more!
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blog July 11, 2017 State Rundown 7/11: Some Legislatures Get Long Holiday Weekends, Others Work Overtime
Illinois and New Jersey made national news earlier this month after resolving their contentious budget stalemates. But they weren’t the only states working through (and in some cases after) the holiday weekend to resolve budget issues.
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blog June 28, 2017 State Rundown 6/28: States Scramble to Finish Budgets Before July Deadlines
This week, several states attempt to wrap up their budget debates before new fiscal years (and holiday vacations) begin in July. Lawmakers reached at least short-term agreement on budgets in Alaska, New Hampshire, Rhode Island, and Vermont, but such resolution remains elusive in Connecticut, Delaware, Illinois, Maine, Pennsylvania, Washington, and Wisconsin.
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ITEP Work in Action April 11, 2017 Connecticut Voices for Children: Testimony Supporting H.B. No. 7316 – An Act Concerning Evaluation of Business Assistance and Incentive Programs H.B. No. 7313 – An Act Imposing a Surcharge on Income Derived From Investment Management
At Connecticut Voices for Children, we view the state budget as the clearest statement of Connecticut’s policy priorities. We believe that these priorities should advance long-term inclusive economic prosperity, equity… -
ITEP Work in Action March 9, 2017 Connecticut Voices for Children: Testimony Regarding S.B. No. 787 – AAC Revenue Items To Implement the Governor’s Budget
At Connecticut Voices for Children, we view the state budget as the clearest statement of Connecticut’s policy priorities. We believe that these priorities should advance long-term inclusive economic prosperity, equity… -
ITEP Work in Action March 3, 2017 Connecticut Voices for Children: Testimony Regarding Estate and Gift Taxes and Exempting Retirement Income: SB 5, SB 58, HB 6358, SB 6, SB 272, HB 6558, and HB 5587
Exemptions to Pensions and Social Security – Exempting retirement income would not only cause immediate revenue deterioration, but given the state’s aging population, could threaten long-term adequacy of the income… -
media mention January 23, 2017 News-Times: Estate tax change makes no sense
“According to the Institute on Taxation and Economic Policy, Connecticut’s top 1 percent (making more than $1.33 million a year) saw just 5.3 percent of their incomes go to taxes… -
ITEP Work in Action January 18, 2017 Connecticut Voices for Children: Revenue Options are Key to Addressing Budget Shortfalls and Supporting Thriving Communities
Long-term investments in children and families have been the cornerstone of the state’s prosperity. To preserve these investments and support long term economic health, a balanced approach to the upcoming… -
ITEP Work in Action January 9, 2017 Connecticut Voices for Children: Impact of the Final FY 2017 Budget on Children and Families
“Following hundreds of millions of dollars in budget cuts in Fiscal Year 2016, Connecticut policymakers tackled the nearly $1 billion budget deficit in Fiscal Year 2017 (FY 17) by adopting… -
media mention October 14, 2016 The Middletown Press: Several big Connecticut firms keep offshore subsidiaries for tax purposes
“The report, Offshore Shell Games, was compiled by the U.S. Public Interest Research Group, the Institute on Taxation and Economic Policy, and Citizens for Tax Justice.” Read more -
media mention October 5, 2016 Salon: Donald Trump’s tax returns show the American tax code favors the rich
“’The real estate [loophole] is a pretty clear and, I think, pretty potent example of a tax break where middle-income Americans look at it and just say, “Well, this doesn’t… -
media mention October 4, 2016 CBS Connecticut: Companies Store Trillions In Offshore Accounts
“The study by ConnPirg, the Connecticut Public Interest Research Group, along with the Institute on Taxation and Economic Policy, shows $2.5-trillion squirreled away in offshore accounts.” Read more -
media mention October 4, 2016 WTNH: New report highlights Connecticut companies utilizing tax havens
“Matthew Gardner, a spokesperson for the Institute on Taxation and Economic Policy, explained that the only way for the U.S. to get this tax money back would be to adjust… -
media mention June 7, 2016 Hartford Business: Unusual property-tax experiment given new life
“Meanwhile, a national tax expert, Carl Davis of the nonpartisan Institute on Taxation and Economic Policy, said he was unaware of any similar programs in other states, and warned that… -
media mention May 31, 2016 Journal Inquirer: Bonding for Bob’s Discount Furniture, Westport hedge fund raises questions
“He cited reports, including one by the nonpartisan Institute on Taxation and Economic Policy that found tax incentives to be “costly for states” and “a drag on national economic growth.””… -
media mention May 31, 2016 Hartford Business Journal: Controversial hedge fund aid passes with little opposition
“Lembo highlighted reports, including one by the nonpartisan Institute on Taxation and Economic Policy that found tax incentives are “costly for states” and “a drag on national economic growth.”” Read… -
media mention May 16, 2016 Citizen’s News: Letter: Budget crisis will hurt environment
“Most of us pay about 10.5 percent in state and local taxes according to the Institute on Taxation and Economic Policy. Wealthiest residents pay between 5.3 percent and 7.6 percent.… -
media mention May 12, 2016 CT Post: Former Gov. Rell switching residency to Florida
““Property taxes have been a bone of contention for the past decade in Florida,” said Matthew Gardner, executive director of the Institute on Taxation and Economic Policy, a Washington, D.C.,… -
media mention May 9, 2016 Salon: The triumphs & tribulations of a “pragmatic” progressive governor: Inside the world of Dannel Malloy
“According to the Center on Budget and Policy Priorities, 69,000 Connecticuters (that’s the official term) were lifted out of poverty each year between 2011 and 2013 by the EITC. Meg… -
ITEP Work in Action May 2, 2016 Connecticut Voices for Children: Impact of the Governor’s, Republican, and Democrat Proposed FY 2017 Budget on Children and Families
“Following hundreds of millions in dollars of cuts to health, human services and education to close a billion dollar budget hole in Fiscal Year 2016 (FY 16), lawmakers are once… -
media mention April 28, 2016 West Hartford News: Another View: Malloy’s new economic reality
“According to the Institute on Taxation and Economic Policy’s data for 2015, Connecticut residents who earned between $46,000 and $76,000 paid double the tax rate (10.7 percent) than those who…