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The need to reduce greenhouse gas emissions requires curtailing coal, oil, and natural gas production and consumption. However, these fuels are major revenue sources for governments. Here, we develop a novel estimate of the revenues generated by fossil fuels for all governments in the United States. Then we estimate how those revenues change under three stylized scenarios through 2050. The first is business as usual (BAU), without further controlling emissions. The second is to limit the increase in global average temperature to 2°C. The third and most ambitious climate goal is to limit the increase to 1.5°C. We estimate that fossil fuels generate $138 billion annually for US governments. Although revenues decline under all three scenarios, they fall more quickly under the ambitious climate policy. Taxes on refined petroleum products are the largest source of revenue and decline under all scenarios. Oil and …