ITEP
@iteptweets
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Informing the debate on tax policy nationwide with research and data-driven solutions.
Joined June 2010
States should opt out of the Qualified Small Business Stock (QSBS) tax break. Why? This tax break: - benefits few small businesses - mostly serves venture capitalists - will cost more than $1 billion in revenue across 38 states https://t.co/KaRDhsGxuz
itep.org
States should decouple from the federal Qualified Small Business Stock (QSBS) exemption.
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What are progressive and regressive tax systems? How do state and local governments raise funds? What principles are used to shape the tax code? These are just some of the kinds of questions that our new Guide to State & Local Taxes can answer. https://t.co/SfadxFI1wS
itep.org
The ITEP Guide to State & Local Taxes offers citizens, advocates, journalists, and policymakers a detailed primer on state and local tax policy. The guide explains a wide range of tax concepts and...
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"...while it’s unclear where Leavitt sourced her $9.1 billion health care price tag, data provided by ITEP shows that undocumented immigrants themselves pay more than 10 times that in U.S. taxes — including $96.7 billion in 2022 alone."
finance.yahoo.com
Here’s what the data says about the real impact of undocumented patients on the health care system.
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Updated IRS lapse plan: 53.6% of agency keeps working. Union president Doreen Greenwald expects longer wait times and backlogs: "For frontline employees, the complete lack of planning left them in the dark about their work status until their supervisor informed them today."
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The Child Tax Credit is a proven tool for reducing poverty. America's cities should use them. Our new report with @CpspPoverty and @nokidhungry shows how local Child Tax Credits could transform the lives of families with children in American cities.
itep.org
Local governments have a critical role to play in reducing child poverty. Local Child Tax Credits could provide large tax cuts to families at the bottom of the income scale, lessening the overall...
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President Trump's tax law benefits the richest 1% more than the bottom 80% of Americans. This also fuels the racial wealth gap as Black and Hispanic households will be left behind. Overall, it’s a tax plan that falls tremendously short on fairness. https://t.co/1XMxBecqdF
news.bloombergtax.com
President Donald Trump’s massive tax-and-spending package will leave a costly hole in the federal budget for future multiracial generations.
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Coca-Cola is telling investors it will likely pay only a small fraction of one of the largest IRS tax penalties in history. If Coca-Cola only pays 3% of the $18 billion tax bill it's facing, then the rest of us will have to pick up the remaining 97%. https://t.co/baAwuksCrp
itep.org
If Coca-Cola only pays 3% of the $18 billion tax bill it's facing, then the rest of us will have to pick up the remaining 97%.
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Even though refundable Child Tax Credits failed to gain approval in Indiana and Ohio this year, it's clear that more states view this tool as a winning policy. Refundable CTCs are effective at providing financial breathing room for working families. https://t.co/XncWF6GN41
stateline.org
Earlier this year, conservative states began to embrace child tax credits that can put cash directly into the hands of families. But Republican proposals in Indiana and Ohio did not advance — a...
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The IRS' capacity to prevent huge corporations from avoiding income taxes is facing a generational crisis due to an exodus of tax lawyers. Unless Congress steps in to help, the agency is hamstrung from stopping corporations from raiding the U.S treasury. https://t.co/PV0lXfLjsQ
itep.org
The IRS's capacity to prevent big multinational corporations from avoiding income taxes is facing a generational crisis.
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The new Trump tax law could throw state tax systems out of balance. Our webinar will explore how states can chart their own course. Learn more on our homepage, or sign up here: https://t.co/dtqyCkAu4i
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Too many lawmakers across the U.S. want to cut taxes for the wealthy through wide-ranging property tax cuts – or even elimination. But property taxes are one of the few taxes we have on a person’s wealth. They should be improved, not discarded. https://t.co/e7UsPIyvPe
theatlantic.com
The tax code is becoming more chaotic and less fair.
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It’s not a mystery which policy tools can reduce poverty. Any lawmaker serious about helping struggling families should push for a permanent expansion of the Child Tax Credit. Otherwise, families across the country face unnecessary hardship.
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Most Americans want billionaires to pay more in taxes. This proposal aims at one of their biggest tax breaks: unrealized capital gains. It would apply only to those with incomes over $100 million or assets worth over $1 billion. https://t.co/hfv5GV6RUW
barrons.com
Legislation proposed in both chambers of Congress would attempt to tax unrealized capital gains for fewer than 1,000 of the U.S.’s wealthiest taxpayers.
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The Earned Income Tax Credit can help families meet basic needs, reduce racial and wealth inequality, and offset regressive state tax systems. Our new brief explains why lawmakers should enact and strengthen state EITCs with these concepts in mind. https://t.co/R9jsf9PgvY
itep.org
Nearly two-thirds of states now have an Earned Income Tax Credit (EITC). Momentum continues to build on these credits that boost low-paid workers’ incomes and offset some of the taxes they pay,...
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No, the Trump administration didn't end taxes on Social Security. There have only been two meaningful changes in the tax treatment of Social Security benefits since the New Deal program was introduced, in 1983 and 1993. Not in 2025. https://t.co/Rz3J8kT72v
itep.org
Why is Trump saying that he has eliminated taxes on Social Security?
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It’s well past time to modernize the IRS and close the widening audit gap on wealthy tax cheats. Congress gave the agency more money in a smart, fiscally responsible move. Now lawmakers have eliminated virtually all those resources. https://t.co/55x3XBfjVW
itep.org
The IRS was set to overhaul how it audits the ultra-rich. Now most of that funding is gone.
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Huge corporations continue to funnel their profits to tax havens and shield their practices from public view. But instead of increasing transparency, some lawmakers in Congress want to dismantle a new reform that would help expose corporate tax dodgers. https://t.co/S7Z5ire0KD
itep.org
What currently stands in the way of better corporate tax transparency.
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Child Tax Credits are effective tools to support low- and middle-income families. As more states create their own CTCs, our brief explains how lawmakers should design them for maximum impact. https://t.co/UPH87ta4RS
itep.org
Child Tax Credits (CTCs) are effective tools to bolster the economic security of low- and middle-income families and position the next generation for success.
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