The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Georgia, 60 percent of the federal tax cuts would go to the richest 5 percent of residents, and 19 percent of households would face a tax increase, once the bill is fully implemented.
Georgia
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November 14, 2017 How the Revised Senate Tax Bill Would Affect Georgia Residents’ Federal Taxes
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November 6, 2017 How the House Tax Proposal Would Affect Georgia Residents’ Federal Taxes
The Tax Cuts and Jobs Act, which was introduced on November 2 in the House of Representatives, includes some provisions that raise taxes and some that cut taxes, so the net effect for any particular family’s federal tax bill depends on their situation. Some of the provisions that benefit the middle class — like lower tax rates, an increased standard deduction, and a $300 tax credit for each adult in a household — are designed to expire or become less generous over time. Some of the provisions that benefit the wealthy, such as the reduction and eventual repeal of the estate tax, become more generous over time. The result is that by 2027, the benefits of the House bill become increasingly generous for the richest one percent compared to other income groups.
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October 4, 2017 GOP-Trump Tax Framework Would Provide Richest One Percent in Georgia with 74.8 Percent of the State’s Tax Cuts
The “tax reform framework” released by the Trump administration and congressional Republican leaders on September 27 would not benefit everyone in Georgia equally. The richest one percent of Georgia residents would receive 74.8 percent of the tax cuts within the state under the framework in 2018. These households are projected to have an income of at least $552,200 next year. The framework would provide them an average tax cut of $83,070 in 2018, which would increase their income by an average of 4.0 percent.
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August 17, 2017 In Georgia 50.0 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Georgia population (0.6 percent) earns more than $1 million annually. But this elite group would receive 50.0 percent of the tax cuts that go to Georgia residents under the tax proposals from the Trump administration. A much larger group, 50.0 percent of the state, earns less than $45,000, but would receive just 5.6 percent of the tax cuts.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Georgia with 58.5 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 Georgia would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,892,900 in 2018. They would receive 58.5 percent of the tax cuts that go to Georgia’s residents and would enjoy an average cut of $120,130 in 2018 alone.
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blog May 17, 2017 Investors and Corporations Would Profit from a Federal Private School Voucher Tax Credit
A new report by the Institute on Taxation and Economic Policy (ITEP) and AASA, the School Superintendents Association, details how tax subsidies that funnel money toward private schools are being… -
report May 17, 2017 Public Loss Private Gain: How School Voucher Tax Shelters Undermine Public Education
One of the most important functions of government is to maintain a high-quality public education system. In many states, however, this objective is being undermined by tax policies that redirect public dollars for K-12 education toward private schools.
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blog March 31, 2017 All Is Peachy in Georgia, for Now
Georgia lawmakers ended their legislative session Thursday by enacting a few tax credits and smartly choosing not to pass a major income tax cut that had been working its way… -
ITEP Work in Action March 9, 2017 Georgia Budget and Policy Institute: Targeted Fix to Income Tax Package Can Deliver Georgians a Win
Georgia lawmakers are considering a large income tax proposal with three sound tax policy reforms alongside one serious shortcoming. On the plus side, the current bill proposes to boost families… -
ITEP Work in Action February 22, 2017 Georgia Budget & Policy Institute: Income Tax Bill Offers Earned Income Tax Credit Upside, Flat Tax Downside
Members of the Georgia House are set to consider a large income tax proposal that contains a mix of positive reforms and measures that raise significant concerns. Some aspects of… -
ITEP Work in Action February 1, 2017 Georgia Budget & Policy Institute: Georgia Stands to Lose Millions from Crackdown on Young Immigrants
The potential for harsher federal immigration policies under the new presidential administration poses special concern for young Georgians whose parents brought them to the United States as children. A new… -
ITEP Work in Action February 1, 2017 Georgia Budget & Policy Institute: Young Immigrants Vital to Georgia’s Workforce, Healthy Economy
Potential harsher federal immigration policies under the new presidential administration pose special concern for young Georgians whose parents brought them to the United States as children. A new federal crackdown… -
media mention January 9, 2017 Patch: Georgia Gas Taxes Edge Up In 2017
“In the Peach State, the price of a gallon of of gasoline increased by 0.3 cents on January 1 and the price of a gallon of diesel increased 0.4 cents,… -
ITEP Work in Action December 16, 2016 Georgia Budget & Policy Institute: A Bottom-Up Tax Cut to Build Georgia’s Middle Class Update
Building a better Georgia, with a strong economy and vibrant communities, requires a more resilient middle class and more opportunities for working families to climb the economic ladder. One of… -
media mention July 28, 2016 Chattanooga Times Free Press: Tennessee now holds sales tax holiday on same weekend as Georgia
“Seventeen states, primarily in the Southeast, stand to lose more than $300 million in tax revenue because they waive sales taxes on back-to-school items and other goods, including hunting gear,… -
media mention June 23, 2016 WSB-TV Atlanta: Social media ad sparks concern about some losing homes
“A recent study by the Institute on Taxation and Economic Policy found that one in three undocumented immigrants in the U.S. own their own homes and pay billions of dollars… -
ITEP Work in Action April 16, 2016 Georgia Budget & Policy Institute: Georgia Work Credit Could Get Families a Better Deal at Tax Time
As Georgians put the finishing touches on their returns to meet today’s income tax filing deadline, one benefit many are missing out on is a tax credit that states can… -
ITEP Work in Action March 25, 2016 Georgia Budget & Policy Institute: Lawmakers Wise to Reject Reckless Income Tax Measures
This year’s General Assembly produced no shortage of big debates, with subjects from religious exemptions to rape kits grabbing statewide and even national headlines. But beneath the surface lurked a… -
ITEP Work in Action March 1, 2016 Georgia Budget & Policy Institute: Tax Breaks, Income Tax Cuts Could Harm Georgia Finances
A variety of tax bills await further consideration by state legislators as the Georgia General Assembly enters its final few weeks of the 2016 session. There are 11 tax bills… -
ITEP Work in Action February 26, 2016 Georgia Budget & Policy Institute: Senate Resolution 756 threatens to disrupt Georgia’s long-term finances
Senate Resolution 756 threatens to undermine Georgia’s ability to remain an attractive state for families and businesses. Passing the amendment creates a rigid formula in Georgia’s constitution that inflicts a… -
ITEP Work in Action February 26, 2016 Georgia Budget & Policy Institute: Slashing Income Tax Delivers Meager Benefit to Most, Jeopardizes Public Services
Georgia lawmakers are considering a pair of proposals that offer a miniscule tax cut to the majority of Georgia families and a massive benefit to the highest-income individuals who need… -
ITEP Work in Action February 25, 2016 Georgia Budget & Policy Institute: Sensible Reforms Can Boost Undocumented Immigrants’ Tax Contribution
Undocumented immigrants in Georgia pay a significant share of state and local taxes each year and providing those families a path to legal status can increase their tax payments even… -
media mention January 12, 2016 The Signal: Fighting for an education: Georgia student organizations band together for the admittance of undocumented students
“Opposition to allowing DACA students in-state tuition tends to come in the form of a few arguments: doing so is a burden on taxpayers, illegal and the undocumented will have… -
ITEP Work in Action December 18, 2015 Georgia Budget and Policy Institute: Welcome Newcomers to Build a Stronger Georgia
“Immigrant taxpayers contribute to Georgia’s bottom line. As immigrants start businesses, buy homes, earn wages and spend disposable income at local businesses, they generate considerable state and local tax revenue… -
media mention December 18, 2015 Gainsville Times: Report says immigrants boost state’s economic fortunes
“Georgia immigrants as a whole contributed nearly $1.8 billion in state and local taxes in 2012, with undocumented immigrants pouring in another $352 million in payroll and health care taxes,…