Tax Credits

Tax credits are special deductions that allow companies and individuals to lower their annual tax liabilities.

Such deductions are available to those who take a certain action or produce some particular product favored by Washington politicians or bureaucrats. Often, these credits give favored companies and industries unfair advantages over their competitors.

The Wind Production Tax Credit is a prime example. Created in 1992 to encourage investment in the wind energy sector, it costs over $2 billion every year. Not only does this increase our deficit, but it also discourages efficiency in the wind industry by rewarding energy production regardless of demand.

In many cases, companies simply build wind energy that is less efficient than other sources simply because of the tax write off. Some investors even point out that wind energy doesn’t make economic sense without credits.

Nor is this the only example. Tax credits for activities such as energy production—including oil and gas—funnel tax dollars into well-connected, successful businesses that don’t need to be subsidized by hard-working taxpayers.

If a product or service is truly valuable, it will be able to succeed without the taxpayers’ help.


Jul 21, 2017

VIDEO | Rep. Blackburn: Tax Reform’s Biggest Stumbling Block BAT is Off the Table

Is the controversial and widely rejected trillion-dollar Border Adjustment Tax (BAT) on imports finally being laid to rest? Rep. Marsha Blackburn (R-TN) told Fox Business Network viewers that she believes…

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Apr 28, 2017

Border Adjustment Tax “Probably Dead” — White House Confirms Harmful Tax Not Part of Tax Reform Efforts

The U.S. Senate’s second ranking Republican says the proposed Border Adjustment TX (B.A.T.) – or 20-percent tax on imported goods proposed by Congress in order to pay for…

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Nov 01, 2016

Tax Extenders: Corporate Welfare for Energy Companies

EXPIRING CORPORATE WELFARE: LET IT DIE Dozens of special-interest tax giveaways are set to expire on December 31. But these provisions, which some in Congress want to extend, are nothing but…

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Oct 27, 2016

Billions of Dollars in Tax Giveaways Are Expiring – Let Them

Congress has the opportunity to give taxpayers a holiday season gift this year-billions of dollars in savings—and all without doing a thing. At the end of the year, dozens of…

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Oct 04, 2016

Tax Extenders Are Corporate Welfare

Today, Freedom Partners released a video highlighting some of the most egregious examples of corporate welfare in Washington, D.C.: Temporary tax preferences for big business. Most Americans have never heard of…

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Sep 27, 2016

Blue Cross Blue Shield Realty Check

Download PDF Version Blue Cross Blue Shield (BCBS) has been circulating on Capitol Hill a memo purporting to set the record straight with “facts” about the Transitional Reinsurance Program. Unfortunately, BCBS doesn…

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Aug 24, 2016

$19.4 Billion in Corporate Welfare Congress Can Save Taxpayers This Year

We frequently hear people complain about the “do-nothing Congress” in Washington, D.C. But every so often, Congress doing nothing can yield a great result. At the end of this year…

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Apr 25, 2016

Eliminating All Subsidies is the First Step Towards Tax Reform

Senior Policy Advisor Andy Koenig wrote about the need to eliminate all tax breaks in Investor’s Business Daily. No Room for Corporate Welfare Carry-Ons Washington (almost) did it again. That…

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Apr 12, 2016

Statement on FAA Reauthorization Talks

Arlington, VA – Negotiations over a new FAA reauthorization collapsed today due to objections to energy tax giveaways attached to the bill, according to a report by POLITICO. Leadership now plans to pursue…

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Apr 11, 2016

Corporate Welfare in the FAA Reauthorization Bill

This week, the U.S. Senate is debating a bill to reauthorize the Federal Aviation Administration (FAA). Unfortunately for taxpayers, the bill is loaded up with pork —  a.k.a. unrelated goodies…

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