- J Pett
- 20 Apr 23
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 […]