Virginia

Regardless of future Child Tax Credit developments at the federal level, state policies can supplement the federal credit to deliver additional benefits to children and families. State credits can be specifically tailored to meet the needs of local populations while also producing long-term benefits for society as a whole

As states continue to tally the remaining votes and the news stories roll out at a breakneck pace, the unofficial results of the 2022 midterm elections have brought with it significant changes across the state tax policy landscape...

Voters in Massachusetts and Colorado raised taxes on their wealthiest residents to fund schools, public transportation and school lunches for kids while making their tax codes more equitable. And voters in West Virginia defeated a proposal to deeply cut taxes, mostly for businesses, and drain the coffers of county and local governments.

In a couple of weeks, voters in a handful of states will weigh in on several tax-related ballot measures that could make state tax codes more equitable and raise money for public services, or take states in the opposite direction, making tax systems less fair and draining state coffers of dollars needed to maintain critical […]

Although the weather is beginning to cool down in parts of the country, the same cannot be said for many state economies, which are still running hot. That, however, doesn’t mean that the good times are guaranteed to last...

Do you remember/the big tax news innn September? Well, if not, we at ITEP got you covered...

13 states plus D.C. created or expanded state CTCs or EITCs this year, helping create more equitable state tax systems WASHINGTON, D.C.: In 2022’s state legislative sessions, lawmakers across the country advanced tax policies that will bolster the economic security of millions of low- and moderate-income working families through new and enhanced Child Tax Credits […]

States continued their recent trend of advancing EITCs in 2022, with nine states plus the District of Columbia either creating or improving their credits. Utah enacted a 15 percent nonrefundable EITC, while the District of Columbia, Hawaii, Illinois, Maine, Vermont and Virginia expanded existing credits. Meanwhile, Connecticut, New York and Oregon provided one-time boosts to their EITC-eligible populations.

Though Labor Day has passed, advocates on the ground in states across the country are continuing to uphold the spirit of the labor movement...

Everyone loves a deal, so it’s no surprise why the appeal of the state sales tax holiday continues to persist. This year, 20 states will forgo more than $1 billion in combined revenue to enact a variety of sales tax holidays that—like most things that are too good to be true—will do little to provide meaningful benefits and instead undermine funding for public services.

While federal tax policy has dominated the headlines with the Senate’s recent approval of the Inflation Reduction Act, lawmakers in statehouses across the country...

It’s the holiday season – well, the sales tax holiday season, that is. But after taking a closer look, you may notice that there is little to celebrate...

State legislatures across the country made investments in their future, centering children, families, and workers by enacting and expanding state Earned Income Tax Credits (EITCs), Child Tax Credits (CTCs), and other refundable credits this session. In total, seven states either expanded or created CTCs this session. Connecticut, New Mexico, New Jersey, Rhode Island and Vermont […]

The average person on the street would have no idea that many states experienced unprecedented budget surpluses this year. Iowa, for instance, has the most structurally deficient bridges of any state with nearly 1 in 5 falling apart. The Iowa Board of Regents proposed a 4.25 percent tuition increase for all three state universities and […]

Twenty states this year have decided to go so far as to forgo a combined $1 billion in vital tax revenue in favor of conveniently popular yet ultimately ineffective sales tax holidays. Whether it’s a state looking for a way to help families manage the rising cost of goods or to celebrate back-to-school shopping season, these policy options are poorly targeted and an inadequate use of state tax revenue that could be doing more to make childcare more affordable, health care more accessible and high-quality education available to everyone.

Lawmakers in many states have enacted “sales tax holidays” (20 states will hold them in 2022) to temporarily suspend the tax on purchases of clothing, school supplies, and other items. These holidays may seem to lessen the regressive impacts of the sales tax, but their benefits are minimal while their downsides are significant—particularly as lawmakers have sought to apply the concept as a substitute for more meaningful, permanent reform or arbitrarily reward people with specific hobbies or in certain professions. This policy brief looks at sales tax holidays as a tax reduction device.

Opposing a fully paid-for spending bill because of inflation concerns does not make any sense. Opposing a deficit-reducing bill because of inflation is absurd.

In response to conflicting reports on negotiations with Sen. Joe Manchin of West Virginia on tax increases and climate provisions, Amy Hanauer, ITEP Executive Director, released the following statement: Sen. Joe Manchin may be uncertain about higher taxes on the rich and corporations, but the American people are not. Large majorities of Americans support the tax […]

From the Bay State to the Golden State, lawmakers across the nation are making deals and negotiating budgets with major tax implications...

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 that would raise significant revenue and make our tax code more progressive by enacting widely popular proposals. (See ITEP’s report on the BBBA.) Of course, […]

With many state legislative sessions wrapped or wrapping up, we at ITEP want to take a moment to direct your attention south, and specifically, to the American South...

The South's negative outcomes on measures of wellbeing are the result of a century and a half of policy choices. Lawmakers have many options available to make concrete improvements to tax policy that would raise more revenue, do so equitably, and generate resources that could improve schools, healthcare, social services, infrastructure, and other public resources.

With inflation dominating headlines both nationally and locally, state lawmakers around the U.S. are searching for ways to put their revenues to good use, and not surprisingly, some options are better than others...

As voters head to the polls to weigh in on their state’s primary elections and legislators convene to hash out budget deals, tax policy remains atop the agenda...