July 14, 2015 05:28 PM By Institute on Taxation and Economic Policy Staff | Permalink | This is the first installment of our three part series on 2015 state tax trends. The next article will focus on more positive developments: working family tax credits and revenue raising. And the final article will discuss one of […]
July 14, 2015 04:06 PM By Matt Gardner, Senior Fellow at ITEP | Permalink | It’s well-documented that profitable Fortune 500 companies are stashing profits offshore to the tune of at least $2.1 trillion and avoiding as much as $550 billion in U.S. taxes. But instead of taking steps to halt this brazen tax dodging, […]
July 14, 2015 03:15 PM By Guest Blogger | Permalink | By ITEP and CTJ staff The summer vacation season is in full swing, and many of us will take a little time to enjoy the nation’s coasts, spend a few days at the lake or just enjoy the great outdoors. But which book to […]
July 9, 2015 09:52 AM By Citizens for Tax Justice Staff | Permalink | Of all the GOP presidential candidates, former Florida Gov. Jeb Bush has been the most tightlipped on federal tax reform. So far, Bush has kept his vision vague, calling for a “vastly simpler system” and “clearing out special favors for the […]
July 8, 2015 03:45 PM By Bob McIntyre, Director of Citizens for Tax Justice | Permalink | Sens. Rob Portman (R-Ohio) and Chuck Schumer (D-NY) today released a long-awaited tax reform plan that reads like a wish list for multinational corporations. The Senate Finance Committee working group’s report provides recommendations for restructuring the federal government’s […]
July 8, 2015 02:26 PM By Citizens for Tax Justice Staff | Permalink | When it comes to tax reform, former Virginia senator and Democratic presidential candidate Jim Webb has publicly discussed conflicting views. Webb has proposed taxing investment income at the same higher tax rate that applies to wages. He has also proposed ending […]
July 2, 2015 11:36 AM By Meg Wiehe, Deputy Director at ITEP | Permalink | Earlier this week, Maine lawmakers overrode Gov. Paul LePage’s veto of the state budget for fiscal year 2016, thus enacting a significant tax overhaul lawmakers had agreed to weeks earlier in a bipartisan fashion. The final tax reform package […]
July 1, 2015 11:47 AM By Sebastian Johnson, State Policy Fellow at ITEP | Permalink | Click Here to sign up to receive the State Rundown in your inbox. The budget showdown between Pennsylvania Gov. Tom Wolf and the state legislature continues. Republican lawmakers want to close a large budget gap without new taxes, while the governor […]
June 30, 2015 02:13 PM By Citizens for Tax Justice Staff | Permalink | During his five years in office, New Jersey Gov. and now presidential candidate Chris Christie has consistently blocked progressive tax increases and sought to pass regressive and fiscally irresponsible tax cuts. The starkest example of how Gov. Christie has sought to […]
June 29, 2015 11:59 AM By Carl Davis, Research Director at ITEP | Permalink | On Wednesday July 1, six states will raise their gasoline tax rates. While some drivers may view this as an unwelcome development during the busy summer travel season, the reality is that most of these “increases” are simply playing catch-up […]
June 29, 2015 10:16 AM By Sebastian Johnson, State Policy Fellow at ITEP | Permalink | Conservative leaders in the Ohio legislature reached an accord on the state budget, ultimately agreeing to a net tax cut of $1.85 billion over two years. The move is sure to make the revenue outlook worse in Ohio and […]
June 24, 2015 03:31 PM By Citizens for Tax Justice Staff | Permalink | While Louisiana Governor Bobby Jindal has yet to lay out a specific tax plan in the run up to his presidential campaign announcement, he has fought to reduce taxes for the wealthy and corporations at the expense of everyone else. He […]
June 24, 2015 02:07 PM By Matt Gardner, Senior Fellow at ITEP | Permalink | Last year at this time, more than a dozen U.S.-based corporations were threatening to move their legal residence to foreign tax havens in a paper transaction known as an inversion. Facing a wave of public opposition, some corporations abandoned these […]
June 24, 2015 12:17 PM By Sebastian Johnson, State Policy Fellow at ITEP | Permalink | Click Here to sign up to receive the State Rundown in your inbox. In a textbook example of a silver lining, working families in Colorado could see an Earned Income Tax Credit (EITC) enacted this year thanks in part to the […]
June 22, 2015 01:46 PM By Citizens for Tax Justice Staff | Permalink | Billionaire businessman, television personality and now presidential candidate Donald Trump is the latest candidate to jump into the race. He has made a number of tax proposals. His more recent proposals, in contrast to ones he proposed back around the 2000 […]
June 19, 2015 02:00 PM By Bob McIntyre, Director of Citizens for Tax Justice | Permalink | Since Sen. Rand Paul (R-KY) announced the broad outlines of his plan for restructuring the federal tax system yesterday, a number of research groups have weighed in on the question of how Paul’s proposed Value Added Tax (VAT) […]
June 19, 2015 12:53 PM By Citizens for Tax Justice Staff | Permalink | As a presidential candidate running for the Democratic nomination in 2016, Lincoln Chafee has yet to lay out a vision on tax issues, so the only indications so far of what his positions may be lie within his record as a […]
June 18, 2015 04:43 PM By Sebastian Johnson, State Policy Fellow at ITEP | Permalink | Click Here to sign up to receive the State Rundown in your inbox. Wisconsin lawmakers are considering eliminating the state’s Alternative Minimum Tax (AMT), a move that would send tax breaks to the rich and nothing to more than 80 percent […]
June 18, 2015 04:14 PM By Bob McIntyre, Director of Citizens for Tax Justice | Permalink | Sen. Rand Paul (R-KY) outlined the broad contours of his plan for restructuring the federal tax system in a Wall Street Journal op-ed today. He proposes replacing the personal income tax and payroll taxes with a flat-rate14.5 percent […]
June 18, 2015 11:37 AM By Citizens for Tax Justice Staff | Permalink | South Carolina Senator Lindsey Graham, yet another entrant into the 2016 GOP presidential race, has a history of supporting extremely regressive tax proposals, yet at the same time has deviated from anti-tax conservatives on a number of issues. In terms of […]
June 17, 2015 10:49 AM By Citizens for Tax Justice Staff | Permalink | This week both the House Ways and Means Committee and the Senate Finance Committee are holding hearings to discuss how to deal with the looming insolvency of the Highway Trust Fund (HTF), and how to sustainability finance the nation’s transportation investments […]
June 16, 2015 11:34 AM By Kelly Davis, Assistant Director of Communications | Permalink | The drama that ensued over the last few weeks in Topeka is the stuff of telenovelas. Kansas Gov. Sam Brownback got emotional when urging lawmakers to vote for a sales tax hike, even calling legislators from the hospital where his […]
June 12, 2015 01:18 PM By Sebastian Johnson, State Policy Fellow at ITEP | Permalink | Stephen Moore, a member of the supply-side triumvirate along with Art Laffer and Travis Brown, recently wrote a deeply misleading op-ed for The Wall Street Journal hailing North Carolina’s revenue surplus as vindication for supply-side economics and the state’s […]
June 11, 2015 03:55 PM By Kayla Kitson, Research Assistant at ITEP | Permalink | The nonpartisan Congressional Research Service (CRS) just released a report that makes a strong case for making permanent EITC provisions that are set to expire in 2017 and also improving the credit for low-income workers without children. The 2009 American […]
June 11, 2015 01:14 PM By Carl Davis, Research Director at ITEP | Permalink | There’s no doubt that Michigan needs to find additional funds to repair its rapidly deteriorating transportation network. But the package of bills just approved by the Michigan House of Representatives represent some of the worst ideas for doing so. The […]