Budget & TaxBudget & Tax

Budgets are about more than numbers, they are a reflection of our priorities. Each year, the President and Congress make decisions about which federal programs to fund. These budget choices should all be transparent and accountable to the nation’s taxpayers. During the 112th Congress, lawmakers ...More

approved significant spending cuts over the next decade. There are many different options Congress will consider as it tackles the $16 trillion national debt that is inhibiting our nation’s overall economic growth.

Tax policy has emerged as one of the few areas that both political parties agree needs considerable reform. Over the years, the nation’s tax code has become littered with special interest tax breaks known as “tax expenditures.” Lawmakers must address the profusion of specialized tax breaks that cost taxpayers more than $1 trillion in revenue every fiscal year. A simpler, flatter, fairer tax code will better serve taxpayers.

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Press Releases

Budget Watchdog Documents Low Federal Effective Tax Rates for Large Oil and Gas Companies

July 31, 2014

Effective Tax Rates of Oil and Gas Companies: Cashing in on Special Treatment report finds variety of special tax provisions allows companies to defer billions in taxes... Read More

Our Take

USEC Posts First Quarter Loss Following Bankruptcy Filing; Company’s Future Uncertain

June 04, 2014

USEC Posts First Quarter Loss Following Bankruptcy Filing; Company’s Future Uncertain The United States Enrichment Corporation (USEC) ended its first quarter $50.8 million in the red, according to the company’s most recent... Read More

Our Take

Tax Extenders Updates

June 03, 2014

Tax Extenders Updates The table below lists the tax extenders passed by the House Ways and Means Committee and Senate Finance Committee so far. None of these... Read More

Our Take

Government Audit: NNSA and Contractor Fail To Control MOX Facility Costs

June 02, 2014

Government Audit: NNSA and Contractor Fail To Control MOX Facility Costs The National Nuclear Security Administration (NNSA) and its contractor MOX Services have failed to control the cost and construction... Read More

Our Take

Summary of Senate Finance Committee’s Tax Extenders Package

April 03, 2014

Summary of Senate Finance Committee’s Tax Extenders Package On Tuesday, April 1, 2014, Senate Finance Committee Chair Ron Wyden (D-OR) released the version of the tax extenders package that the... Read More

Our Take

Energy Tax Extenders in Senate EXPIRE Act

April 03, 2014

On Tuesday, April 1, 2014, Senate Finance Committee Chair Ron Wyden (D-OR) released the version of the tax extenders package that the Committee would be considering. Tax extenders are a hodge-podge of generally narrow interest tax expenditures (breaks) that are only authorized for a year or two.... Read More

More in-depth material from TCS in Budget & Tax
Reports & Data

Effective Tax Rates of Oil & Gas Companies: Cashing in on Special Treatment

July 30, 2014

Effective Tax Rates of Oil & Gas Companies: Cashing in on Special Treatment From 2009 through 2013, large U.S.-based oil and gas companies paid far less in federal income taxes than the statutory rate of 35 percent.... Read More

Fact Sheets

Just the facts about the Effective Tax Rate for Oil & Gas Companies

April 21, 2014

Just the facts about the Effective Tax Rate for Oil & Gas Companies The effective tax rate (ETR) sounds like it measures what oil companies are paying to Uncle Sam. What a company’s ETR actually measures is... Read More

101

A Century of Subsidies for the Oil & Gas Industry

April 18, 2014

The oil and gas industry has been getting subsidies for almost a century. We can't afford special treatment for profitable companies. The time has come to end taxpayer subsidies for the industry.... Read More

Reports & Data

Understanding Oil and Gas Tax Subsidies

April 09, 2014

Understanding Oil and Gas Tax Subsidies Understanding Oil and Gas Tax Subsidies is an in-depth look at special provisions written into the tax code over decades that benefit... Read More

TCS appearances in the media in Budget & Tax

Congress Should Let the Wasteful Export-Import Bank Expire

September 12, 2014 | U.S. News & World Report

One fight that is sure to get a lot of attention in the run-up to the midterm elections is the renewal of the Export-Import Bank, known as... Read More

The case against ‘nonprofits 1 and 2’ in Fattah probe

September 09, 2014 | Philadelphia Enquirer

WASHINGTON - Their missions were admirable: Boost education programs for Philadelphia schoolchildren and provide college scholarships. But... Read More

End the N.F.L. Tax Breaks

September 04, 2014 | The New York Times

The National Football League is the most lucrative sports organization in the world. Revenues for 2012 were estimated to be $9.5 billion,... Read More

The U.S. Inversion Problem

September 03, 2014 | Capital Insider

U.S. lawmakers and consumers are up in arms over a recent deal to move Burger King to Canada. Many analysts say the deal makes business... Read More

Military Guns Used by Local Police Across the Country Are Missing

September 02, 2014 | ABC News

Some police forces are not keeping track of high-powered weapons and the fear is they could end up in the wrong hands.  

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

September 05, 2014

Punting on the Budget

Volume XVI, No.36 Around Washington you can tell football season is upon us (here you can read what we think... Read More

Corporate Welfare in Agribusiness

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How US agriculture policy favors corporations over family farms.

The President’s Budget for FY2015

The President's proposed budget for fiscal year 2015 is out. Get the facts and see our analysis.

Our Take