What is Energy Tax Facts?

With oil and natural gas production increasing in the United States, we finally have a chance to eliminate our dependency on sources of energy from unstable regions of the world. Recent tax reform efforts in the United States have preserved critical energy tax provisions, which stimulate investment in safe energy production right here at home. Maintaining these tax provisions into the future is key for a healthy economy, high-paying U.S. jobs, and our national energy security.
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Tax Foundation: What Biden’s Budget Gets Wrong about Expensing for Intangible Drilling Costs

French philosopher Voltaire once famously described the Holy Roman Empire as neither holy, nor Roman, nor an empire. The latest presidential budget includes a section calling for the elimination of a handful of supposed subsidies, such as expensing for intangible drilling costs (IDCs), which the budget characterizes as “wasteful spending… on Big Oil.” Much like the Holy […]