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... 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

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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

U.S. Energy Firms Rewarded With Tax Deferrals

August 01, 2014 | Wall Street Journal

The U.S. energy boom is producing a little-noticed side effect: American oil and gas companies are paying less in federal income... Read More

Energy Journal: Driller Tax Breaks Support Big Spenders

August 01, 2014 | Wall Street Journal

SPEND NOW, PAY LATER Oil and gas drillers are paying less tax as the shale boom continues, writes The Wall Street Journal’s Daniel... Read More

U.S. Export-Import Bank at heart of debate over federal role

July 31, 2014 | World-Herald Bureau

WASHINGTON — Shipping millions of dollars worth of popcorn to an overseas buyer is a risky proposition. Nebraska-based Preferred Popcorn... Read More

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

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

August 01, 2014

Drilling for Tax Gold

Congress, especially this Congress, can make even simple tasks look difficult, but by all accounts reforming... 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