Congressional Research Service. October 30, 2013.
The Obama Administration, in the FY2014 budget proposal, seeks to eliminate a set of tax expenditures that benefit the oil and natural gas industries. Supporters of these tax provisions see them as comparable to those affecting other industries and supporting the production of domestic oil and natural gas resources. Opponents of the provisions see these tax expenditures as subsidies to a profitable industry the government can ill afford, and impediments to the development of clean energy alternatives.
http://www.fas.org/sgp/crs/misc/R42374.pdf [PDF format, 13 pages].
Urban Institute. February 11, 2013.
The revenues from a carbon tax could help finance lower corporate tax rates, extending business tax preferences, or other corporate tax reforms, according to this report. Such a tax swap would reduce the environmental risks of carbon emissions and improve the efficiency of America’s corporate tax system. But it would also pose a significant distributional challenge. A carbon tax would fall disproportionately on low-income families, while corporate tax cuts would disproportionately benefit those with high incomes. Policymakers may want to use some revenue to offset those impacts. They may also want to use some carbon revenues for deficit reduction. [Note: contains copyrighted material].
http://www.urban.org/UploadedPDF/412744-Carbon-Taxes-and-Corporate-Tax-Reform.pdf [PDF format, 18 pages].
Congressional Research Service. January 23, 2013.
Recent actions by the Organization for Economic Cooperation and Development (OECD) and the G-20 industrialized nations have targeted tax haven countries, focusing primarily on evasion issues. The HIRE Act (P.L. 111-147) included a number of anti-evasion provisions, and P.L. 111- 226 included foreign tax credit provisions. Some of these proposals, and some not adopted, are in the American Jobs and Closing Loopholes Act (H.R. 4213); the Stop Tax Haven Abuse Act (S. 506, H.R. 1265); draft proposals by the Senate Finance Committee; two other related bills, S. 386 and S. 569; the Bipartisan Tax Fairness and Simplification Act (S. 3018); and proposals by President Obama.
http://www.fas.org/sgp/crs/misc/R40623.pdf [PDF format, 56 pages].
Economic Policy Institute. November 15, 2012.
As policymakers begin negotiations on addressing the nation’s fiscal challenges, it is crucial that they clearly understand the economic context of the choices they face, according to the report. It provides analyses and recommendations for specific actions regarding both the impending so-called fiscal cliff and future projected budget deficits. [Note: contains copyrighted material].
http://www.epi.org/files/2012/pm196-fiscal-cliff-principles-for-upcoming-budget-debates.pdf [PDF format, 3 pages].