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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All the latest content from TCS in Budget & Tax
Our Take

Top 10 Tax Cherries On Top of the CROmnibus

December 17, 2014

Top 10 Tax Cherries On Top of the CROmnibus Fresh off their $1.1 trillion CROmnibus high, the Senate approved a bill providing dozens of tax breaks to special interests. The tax... Read More

Letters & Testimony

Letter to Congress: Tax Extenders Extend Deficits

December 03, 2014

Letter to Congress: Tax Extenders Extend Deficits TCS letter to the House of Representatives outlining a better approach to tax extenders going forward. ... Read More

Our Take

Highlights of Department of Defense Reclama of House and Senate Authorization Bills

October 31, 2014

Earlier this month the Pentagon submitted to the Congress its views on open issues in the Defense Authorization legislation.  When Congress... Read More

Our Take

Senate Finance Committee Holds Hearing on Energy Tax Reform

September 18, 2014

Senate Finance Committee Holds Hearing on Energy Tax Reform The Senate Finance Committee met yesterday to discuss the need for reforming the nation’s outdated energy tax laws as part of the larger tax... Read More

Letters & Testimony

TCS Letter to Senate Finance Committee Urging Reform of Energy Tax Provisions

September 17, 2014

TCS Letter to Senate Finance Committee Urging Reform of Energy Tax Provisions On Tuesday, TCS sent a letter to the Senate Finance Committee ahead of their hearing on energy provisions in the tax code.... Read More

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

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

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

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 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

‘Temporary’ Tax Extenders Permanently Cost Taxpayers Big

December 11, 2014 | U.S. News & World Report

Congress is again going to extend a slew of tax breaks with little oversight or debate.... Read More

House Subcommittee Renews Call for Private Flood Insurance

November 24, 2014 | Insurance Journal

A House Financial Services subcommittee scheduled a hearing for today to focus attention on encouraging flood insurance sold by private... Read More

Group Proposes Environmentally Friendly Budget Cuts

November 24, 2014 | The Daily Caller

 coalition of interest groups is proposing a list of fiscally responsible and environmentally friendly spending cuts that could appeal to... Read More

Witness at Senate Hearing Questions Effectiveness of Disaster Bonds

November 21, 2014 | Bond Buyer.com

WASHINGTON - An official with a nonpartisan budget watchdog group questioned the effectiveness of tax-exempt disaster bonds and other types of... Read More

High-income CT Sends U.S. More In Taxes Than It Gets Back

November 17, 2014 | The Connecticut Mirror

Washington – When it comes to federal dollars, is it better for Connecticut residents to give or to receive? It depends on who you... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

December 05, 2014

113th Congress, Don’t Let the Door Hit You…

As the 113th Congress limps towards its ignominious end, lawmakers in the House and the Senate continue a slow... Read More

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