Avoid Unnecessary Liabilities

One way the federal government subsidizes private industry is by assuming future liabilities. For example, Uncle Sam provides disaster insurance for oil companies, putting taxpayers on the hook for the costs of cleaning up oil spills. ...More

Taxpayers subsidize the nuclear power industry by guaranteeing repayment of billions of dollars in loans necessary to construct nuclear power plants.

Liabilities for private industries can be an especially dangerous form of subsidy, because the total cost to taxpayers is not necessarily reflected in the initial price tag. Huge, profitable companies like oil and gas companies do not need taxpayer subsidies, nor should Congress selectively prop up failing private companies by assuming their liabilities.

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All the latest content from TCS in Avoid Unnecessary Liabilities
Letters & Testimony

TCS Urges the House to Support Flood Insurance Bill

April 26, 2016

TCS Urges the House to Support Flood Insurance Bill On Tuesday, TCS sent a letter to the House of Representatives voicing its strong support for H.R. 2901 - the Flood Insurance Market Parity and... Read More

Letters & Testimony

Letter to House: “National Catastrophe Fund” Would Be Financially Catastrophic

April 21, 2016

Letter to House: “National Catastrophe Fund” Would Be Financially Catastrophic On Thursday, Taxpayers for Common Sense and six other oganizations sent a letter to the House of Representatives voicing the coalition's... Read More

Our Take

Peabody Declares Bankruptcy, Could Leave Clean-Up Costs to Taxpayers

April 14, 2016

Peabody Declares Bankruptcy, Could Leave Clean-Up Costs to Taxpayers The largest U.S. coal company declared bankruptcy Wednesday, potentially leaving $1.4 billion in clean-up costs to taxpayers.... Read More

Statements

TCS Statement: Peabody Declares Bankruptcy, Taxpayers On The Hook

April 13, 2016

TCS Statement: Peabody Declares Bankruptcy, Taxpayers On The Hook Today, the largest U.S. coal producer, Peabody Energy, which currently holds $1.4 billion in self-bonded clean-up or reclamation... Read More

Our Take

TCS President Ryan Alexander Tells BLM How to Improve Rule, Reduce Wasted Gas

March 03, 2016

TCS President Ryan Alexander Tells BLM How to Improve Rule, Reduce Wasted Gas Bureau of Land Management held another in a series of listening sessions on its proposed rule to reduce wasted gas from oil and gas operations on federal lands. ... Read More

Event Summary

TCS Co-hosts Panel on Fair Return for Publicly-Owned Natural Resources

February 08, 2016

TCS Co-hosts Panel on Fair Return for Publicly-Owned Natural Resources TCS and Project on Government Oversight hosted a panel discussion on how the federal government can better manage resources on federal lands.... Read More

More in-depth material from TCS in Avoid Unnecessary Liabilities
Reports & Data

Disaster Spending Data Resources

January 28, 2016

To increase transparency and facilitate oversight of disaster-related relief spending, TCS has collected all, or most, of the publicly... Read More

Fact Sheets

Coal Bonding: Time to Revisit Self-Bonding Requirements

November 09, 2015

For centuries, coal producers in the U.S. regularly abandoned their mines when on-site operations ended, leaving tens of thousands of... Read More

Fact Sheets

Better Targeting Conservation Spending: The 2014 Farm Bill

September 30, 2015

Taxpayer dollars must be managed in a manner that produces measurable outcomes and the best return on investment. The United States Department... Read More

Fact Sheets

Recommendations for an Alternative, Accountable Farm Safety Net

August 07, 2015

August 2015 The current farm safety net is a complex web of overlapping and expensive subsidies that rewards special interests and large... Read More

TCS appearances in the media in Avoid Unnecessary Liabilities

Viewpoint: Reform Flood Insurance

April 25, 2016 | Orlando Sentinel

The federal government's flood-insurance system is swimming in more than $23 billion of debt, and while some Florida lawmakers have proposed... Read More

Strange Bedfellows Push for Private Flood Insurance Legislation

April 18, 2016 | American Banker

WASHINGTON — The National Association of Realtors is teaming up with a coalition of environmental groups, taxpayer advocates and insurance... Read More

Coal Slump Sends Mining Giant Peabody Energy into Bankruptcy

April 14, 2016 | Bloomberg News

Peabody Energy Corp. filed for bankruptcy on Wednesday, the most powerful convulsion yet in an industry that’s still waiting for the coal... Read More

Groups Join to Push Flood Insurance Reform

April 12, 2016 | Property Casualty 360

Legislators and stakeholders would like to get a bill extending and reforming the National Flood Insurance Program (NFIP) put together this... Read More

The Clock is Ticking on Flood Insurance Reform

April 08, 2016 | The Hill - Congress Blog

With national flood insurance on the verge of a financial crisis, consensus is growing for reforms that will ensure the program can continue to pay claims and protect people in harm’s way.... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

February 12, 2016

Budgeting for the Last Time

The final budget of President Obama’s tenure was released this week. Coming out on Fat Tuesday was appropriate... Read More

TCS Celebrates 20th Anniversary