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.

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

Congressional Scorekeeper Releases Budget Outlook

January 26, 2015

Congressional Scorekeeper Releases Budget Outlook Today the Congressional Budget Office (CBO) released its annual report on the federal government’s budget and economic outlook, and the text... Read More

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Hearing on Energy Tax Reform The Senate Finance Committee met yesterday to discuss the need for reforming the nation’s outdated energy tax laws as part of the larger tax...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

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

Boondoggle on the Border

January 28, 2015 | U.S. News & World Report

The early weeks of any new Congress give those of us paying attention a sense of the types of activity we can expect for the next two years.... Read More

Terrorism Risk Insurance Program

January 27, 2015 | Capital Insider

The initiative was created after the tragic events of September 11, 2001. The program expired at the end of December, but its back... Read More

Will 2015 Be the Year for Tax Reform? It Could Happen

January 23, 2015 | The GPS News

WASHINGTON— The similarities between Rep. Paul Ryan’s (R-Wis) and President Obama’s proposals to expand the earned income tax credit to... Read More

Opinion: Why Obama’s Plan for Tuition-Free Community Colleges Is a Good Idea

January 15, 2015 | Los Angeles Times

President Obama announced the other day the framework for a plan to make two years of community college tuition-free for those who are serious... Read More

Will Congress Sack the NFL?

January 12, 2015 | Washington Examiner

The NFL was tarnished by one ugly stain after another in 2014. (AP Photo/Tom Puskar)   Football is approaching its annual crescendo, with... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

January 23, 2015

Dividends of Doing It Differently

Reaction to the President’s State of the Union speech was swift and predictable. Democrats lauded his proposals... 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