Severance taxes are taxes on the extraction of natural resources such as oil and natural gas. State and local governments collected a combined $11.8 billion in revenue from severance taxes in 2021.
Campaigns and political party platforms provide limited policy details. That’s by design: especially in a campaign, politicians tend to accentuate what they will do ...
The fate of a government agency’s funding is always precarious—and especially so for the Internal Revenue Service, one of the most unpopular federal agencies ...
The Tax Cuts and Jobs Act cut taxes substantially from 2018 through 2025. The resulting deficits are adding $1 to $2 trillion to the federal debt, according to official estimates from before and ...