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
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

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.  

Farm Bill Savings Get Gobbled Up

August 20, 2014 | U.S. News & World Report

It’s only been six months since the president signed the 2014 farm bill into law, but, as we predicted at Taxpayers for Common Sense, the... Read More

Billy Long’s bill a symptom, symbol of gridlock

August 12, 2014 | Gannett News Service

WASHINGTON – It has a catchy name — the Taxpayer Transparency Act — and it's pretty simple. Sponsored by Springfield GOP Rep. Billy Long, the... Read More

New Oil and Gas Drilling Financed Largely With Debt

August 07, 2014 | OilPrice.com

Major oil and gas companies are taking on an increasing share of debt in order to maintain drilling momentum, according to data from the... Read More

The Surprising Truth About Oil and Gas Tax Breaks

August 06, 2014 | U.S. News & World Report

At Taxpayers for Common Sense, we recently analyzed the federal income taxes paid over the last five years by some of the largest U.S.-based... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

August 22, 2014

Garbage Data In, Garbage Data Out

Prior to taking office as President, one of Senator Obama’s major accomplishments was the enactment of the... 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