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

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 ...

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 …

Jan 6, 2025 · Frank Newport, “Americans’ Long-Standing Interest in Taxing the Rich,” Gallup, February 2019. Davis, Carl, et al. “Who Pays?A Distributional Analysis of the Tax Systems in All 50 States, 7th ed.,” Institute on Taxation and Economic Policy, January 2024. Carl Davis, Misha Hill, and Meg Wiehe, “Taxes and Racial Equity: An Overview of …

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 ...

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.

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 …

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 ...

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 ...

Jan 8, 2025 · Trump’s plan to make most of the temporary provisions of his 2017 tax law permanent would disproportionately benefit the richest Americans. This includes all major provisions except the $10,000 cap on deductions for state and local taxes (SALT) paid which Trump has indicated he would not extend.. This plan would also be expensive.