Desperately seeking fiscal savings, Congress and President Obama are scrambling to find anything in the federal budget that can be thrown overboard, from child nutrition aid to funding for military bands.
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Not a document for the faint-of-heart, but one of the best resources for learning about the vast array of federal tax provisions that are now doling out more than a trillion dollars of special exemptions for various groups in the economy. A good book to tuck under your arm when you head out to the beach...
Conspicuously absent from industry press releases and briefing memos touting nuclear power’s potential as a solution to global warming is any mention of the industry’s long and expensive history of taxpayer subsidies and excessive charges to utility ratepayers. These subsidies not only enabled the nation’s existing reactors to be built in the first place, but have also supported their operation for decades.
When he releases his new budget in two weeks, President Obama will propose doing away with roughly $4 billion a year in subsidies and tax breaks for oil companies, in his third effort to eliminate federal support for an industry that remains hugely profitable. Previous efforts have run up against bipartisan opposition in Congress and heavy lobbying from producers of oil, natural gas and coal.
The Democratic Staff of the Committee on Natural Resources of the U.S.
Tax and royalty-related subsidies to oil extraction from high cost fields: A study of Brazil, Canada, Mexico, United Kingdom and the United States
Discussion of fiscal regimes for oil extraction have traditionally focused on the total charges of all sorts levied on a project (the "total government take"), and whether their level and structure optimised oil production and public revenues. Yet national, or global, policies to meet energy and environmental goals need to maximize benefits across complex energy and economic systems, not just specific projects. This study argues that there is a need to reframe the debate on how fiscal regimes - notably tax and royalties - to fossil-fuel extraction are evaluated. It further argues that su
Government subsidy programs, like many areas of government expenditure, are at risk of corruption and fraud that cost taxpayers millions of dollars. The extent to which these two factors affect subsidy policy is difficult to fully estimate because it is not commonly detected or reported to official sources. Precise figures are difficult to obtain, and governments are also often unwilling to publicize occurrences of fraud and corruption out of fear of bad publicity or public concern at their lack of oversight.
Keynote presentation at the OECD's expert workshop on estimating subsidies to fossil fuels, held in November 2010.
This is the second detailed report on fossil fuel subsidies prepared by the assigned agencies to support the G20 subsidy phase-out commitment. It was prepared to support the November 2010 meeting of the G20 in South Korea. The report estimates the scope of fossil-fuel subsidies in 2009 and provides a roadmap for phasing-out fossil-fuel subsidies. The IEA estimates that direct subsidies that encourage wasteful consumption by artificially lowering end-user prices for fossil fuels amounted to $312 billion in 2009. In addition, a number of mechanisms can be identified, also in advanced econ
Mapping Fossil-Fuel Subsidies: Lessons from Case Studies of China, Germany, Indonesia, and the United States
Earth Track presentation on fossil fuel subsidy reform at a joint meeting hosted by the Global Subsidies Initiative of the IISD and the United Nations Environment Programme in Geneva in October 2010, titled Increasing the Momentum of Fossil-Fuel Subsidy Reform: Developments and Opportunities. The presentation goes through lessons learned on subsidy transparency and challenges for reform based on case studies in China, Germany, Indonesia, and the United States.