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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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... Read More

Press Releases

Backlog of Roadway Repairs Threatens State Transportation Budgets Nationwide

March 12, 2014

Backlog of Roadway Repairs Threatens State Transportation Budgets Nationwide New national report examines how much states are spending on new roadways versus investing in repairs.... Read More

More in-depth material from TCS in Budget & Tax
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

Fact Sheets

Just the Facts about the Mortgage Interest Deduction

March 12, 2014

The mortgage interest deduction (MID) allows homeowners to deduct from their taxable income the interest payments on home mortgage balances... Read More

TCS appearances in the media in Budget & Tax

The Road to Budget Gimmicks

July 24, 2014 | US News & World Report

Earlier this month, I wrote about the looming crisis with the Highway Trust Fund in the wake of the Congressional Budget Office announcing... Read More

The Congressional to-do list and your money

July 24, 2014 | WJLA ABC 7

With an August break just two weeks away, Congress is facing a long to-do list with bills covering things from highway funds to... Read More

Export-Import bank renewal debated

July 23, 2014 | Gannett News

WASHINGTON – More than 50 South Carolina companies used the U.S. Export-Import Bank in the last seven years to help finance their... Read More

Congress won’t have to detail lobbyist trips; Critic says lack of disclosure is effort to avoid accountability

July 17, 2014 | Dayton Daily News (Ohio)

Federal lawmakers and their staffs don't have to be quite as up front about taking lobbyist-funded trips after a change quietly sneaked into... Read More

Nascar Tracks Rev up Lobbying for tax break

July 15, 2014 | The Hill

Racetrack owners are revving up their efforts to protect the “NASCAR tax break” from critics who portray it as pure corporate pork. The... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

July 18, 2014

Budgeting for Emergencies

Congressional wrangling over the President’s recent $4.3 billion supplemental emergency spending request... 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.

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