A Distributional Analysis of Donald Trump’s Tax Plan – ITEP
Oct 7, 2024 · Steve Wamhoff, “Extending Temporary Provisions of the 2017 Trump Tax Law: Updated National and State-by-State Estimates,” Institute on Taxation and Economic Policy, September 13, 2024. Steve Wamhoff, ”The Estate Tax is Irrelevant to More Than 99 Percent of Americans,“ Institute on Taxation and Economic Policy, December 7, 2023. Lester & Rector (2016) find that 37.2
How Would the Harris and Trump Tax Plans Affect Different …
Oct 23, 2024 · Presidential candidates Kamala Harris and Donald Trump have put forward a wide range of different tax proposals during this year’s campaign. We have now fully analyzed the distributional impacts of the major proposals of both Vice President Harris and former President Trump in separate analyses. In all, the tax proposals announced by Harris would, on average, lead to a tax cut for all income ...
Federal Tax Debate 2025 – ITEP
Dec 12, 2024 · Former President Trump has offered several tax proposals, which are all included in these estimates: Extending the temporary provisions in Trump’s 2017 tax law that will otherwise expire at the end of 2025, except for the $10,000 cap on State and Local Tax (SALT) deductions, which Trump says he would not extend; Exempting certain types of income from taxes (overtime pay, tips, and Social ...
ITEP – Informing tax policy debate nationwide
Institute on Taxation and Economic Policy. The Geographic Distribution of Extreme Wealth in the U.S. Excessive concentration of wealth runs counter to our national aspiration for genuine equality of opportunity, and it saps the vitality of our democracy through the …
ITEP’s Top Charts of 2024
Dec 17, 2024 · Corporate Taxes Before and After the Trump Tax Law. The Trump tax law that took effect in 2018 marked a major victory for corporations. The law lowered the corporate tax rate to 21 percent, and as a result, most of the nation’s largest corporations saw substantial tax reductions.. America’s largest, consistently profitable corporations saw their effective tax rates fall from an average of ...
Tax Payments by Undocumented Immigrants – ITEP
Jul 30, 2024 · Undocumented immigrants paid $96.7 billion in federal, state, and local taxes in 2022. Providing access to work authorization for undocumented immigrants would increase their tax contributions both because their wages would rise and because their rates of …
Corporate Taxes Before and After the Trump Tax Law – ITEP
May 2, 2024 · The Trump tax law slashed taxes for America’s largest, consistently profitable corporations. These companies saw their effective tax rates fall from an average of 22.0 percent to an average of 12.8 percent after the Trump tax law went into effect in 2018.
But Won’t — Pass a Tax Package That Pays for Itself - ITEP
Jan 17, 2025 · Congressional Republicans’ plan for a massive extension of the Trump-era tax cuts comes with a hefty price tag: up to $5.5 trillion over the next decade if extensions of certain business provisions are also included. The majority of these benefits would flow to wealthy individuals and businesses, leaving everyone else with a token tax cut and saddling the nation with a massive increase in ...
Study: Undocumented Immigrants Contribute Nearly $100 Billion …
July 30, 2024 Study: Undocumented Immigrants Contribute Nearly $100 Billion in Taxes a Year news release
How Local Governments Raise Revenue—and What it Means for …
Mar 30, 2023 · Most local tax systems are falling short of their potential. Well-structured local tax policies support communities by facilitating important investments and advancing fairness, but the tax revenue sources most utilized by local governments tend to disproportionately weigh on households with fewer resources. Learning from these realities can inform the path to improved tax policies and ...