
February 9, 2023 • By Amy Hanauer
With fears of gridlock in a divided Washington, tax justice champions are building momentum in other places where there's dire need for better tax policy: the states. We can upgrade communities across the country by making 2023 a year to win tax improvements in statehouses.
January 26, 2023 • By ITEP Staff
Tax season has officially kicked off and with Earned Income Tax Credit (EITC) Awareness Day right around the corner, it serves as another reminder for how important the EITC is...
January 20, 2023
Washington state Democrats Sen. Noel Frame and Rep. My-Linh Thai announced legislation Thursday to create a state wealth tax on financial assets in excess of $250 million. They say it could generate an estimated $3 billion per year to fund housing and education, and decrease the tax burden on working-class people. Read more.
January 19, 2023 • By ITEP Staff
State legislatures are buzzing as leaders and lawmakers jockey to advance their 2023 goals...
Lawmakers in seven states will introduce legislation this week to tax wealth in a new coordinated effort to combat ever-increasing income and wealth inequality. The bills couldn’t come at a better time, as those at the very top continue to pull apart from the rest of us and far too many states contemplate piling on to this runaway inequality with seemingly endless tax cuts for those at the top.
January 11, 2023 • By ITEP Staff
Governors have begun their annual trek to the podium in statehouses across the U.S. to lay out their visions for 2023, and so far, taxes look like they will play a major role in debates throughout state legislative sessions...
December 21, 2022 • By Joe Hughes
The European Union has reached unanimous agreement to implement a global minimum tax beginning in 2024. With the EU and UK fully on board, it's time for Congress to follow suit and implement the plan negotiated by the Biden administration. Doing so would improve the corporate tax system here and around the world while making the United States economy stronger and more competitive.
Next Tuesday, voters will head to the polls to not only elect local and national leaders, but also let their voices be heard on a range of tax policy issues that could improve or worsen their state tax codes...
November 2, 2022
The mess in England doesn’t mean he’s wrong. Arthur Laffer, the chief cheerleader for supply-side economics since the days of Ronald Reagan, wants to make that clear. Read more.
Do you remember/the big tax news innn September? Well, if not, we at ITEP got you covered...
Editor’s note: This originally ran as an opinion piece in The Hill. Though the Inflation Reduction Act is enormously popular, some politicians and pundits are trying to generate hysteria about one feature: Funding for the IRS. All the false claims are distracting us from two important things: how necessary the funding increase is to reverse […]
August 11, 2022
Senate Democrats agreed Sunday to protect firms owned by the private equity industry from a new minimum tax on billion-dollar corporations, bowing to pressure from Sen. Kyrsten Sinema (D-Ariz.), who insisted on making the change to the Democrats’ sprawling climate, health-care and tax package. Read more.
August 11, 2022
The House is expected to approve the Inflation Reduction Act on Friday that includes a minimum tax rate of 15 percent on highly profitable companies — a levy that could hit Amazon, Verizon and others. The tax would help pay for large investments across climate and health care. Read more.
August 10, 2022 • By ITEP Staff
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...
July 28, 2022
“This would certainly be the biggest corporate tax increase in decades,” said Steve Wamhoff, a tax expert at Institute on Taxation and Economic Policy. “We’ve had decades of tax policy benefiting the rich, but this is really the first attempt to raise revenue in a progressive way that would begin to combat wealth and income […]
July 27, 2022 • By ITEP Staff
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...
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...
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...
May 10, 2022
“That’s a fair trade,” said Frank Clemente, executive director of Americans for Tax Fairness, a left-leaning group that has along with the Institute on Taxation and Economic Policy voiced opposition to the incentive being restored. “It’s a deal, whereas this is not a deal.” Read more
May 10, 2022
A majority of the states that legalized recreational marijuana for recreational use are collecting more tax revenue from pot sales than alcohol sales. The first two states to legalize pot are profiting the most, Colorado and Washington. Across the country, the total revenue for taxes on weed amounted to nearly $3 billion, according to a report on […]
This Spring looks to be bringing a mix of showers and flowers as states around the nation continue to act on a range of tax proposals...
April 19, 2022 • By Carl Davis
In 2021, the 11 states that allowed legal sales within their borders raised nearly $3 billion in cannabis excise tax revenue, an increase of 33 percent compared to a year earlier. While the tax remains a small part of state budgets, it’s beginning to eclipse other “sin taxes” that states have long had on the books.
April 12, 2022
ITEP Senior Fellow Matthew Gardner appeared on CSpan’s Washington Journal on Tuesday, April 12, 2022, to discuss President Biden’s tax proposals.
April 6, 2022
On that topic, the Institute on Taxation and Economic Policy wrote: Any feature of an income tax that is based on a fixed dollar amount will be vulnerable to inflationary effects. In many states, this means that tax breaks designed to provide low-income tax relief — including exemptions, standard deductions, and most tax credits — […]
March 25, 2022 • By Steve Wamhoff
New corporate tax proposals address the current situation, but ultimately leaders in Washington must fix federal law to tax all corporate profits and stop the tax dodging that is rampant today.