Two of the largest companies in North Texas paid little or no federal income tax last year, according to a new report provided exclusively to Axios by the progressive think tank Center for American Progress.

• Dallas-based AT&T reported that it will pay no federal income taxes in 2021, despite $29.6 billion in earnings. The company reported a tax refund — or an income tax benefit — of $1.2 billion.

Why it matters: Corporate profits surged to record highs last year, thanks in part to copious amounts of government spending. The idea that companies that earned billions aren't paying any federal tax is sure to fuel simmering criticisms from Democratic lawmakers.

Zoom out: Nineteen of the nation's largest businesses paid little or no taxes last year, per Axios' Emily Peck.

• The CAP report says Irving-based ExxonMobil paid 2.8% in taxes. The company said that its effective income tax rate for 2021 was 31% (a number that includes deferred taxes).

State of play: Companies don't have to publicly release their income tax filings. This report — and others like it over the years — relies on public companies' annual 10k filings, where they estimate a "federal income tax expense."

What they're saying: "This status quo can be changed. Polls show that raising taxes on corporations is among the most popular elements of President Biden’s economic agenda," the CAP report says. "Policymakers must act now to ensure that large, profitable corporations pay their fair share."

The other side: AT&T didn't reply to requests for comment.

Fort Worth has become the first city government in the U.S. to mine bitcoin.

Why it matters: At every level of government, officials are recognizing that cryptocurrency will be an important part of the future. Some, like Fort Worth, are signaling they are open for business.

Catch up quick: Bitcoin "mining" is how new cryptocurrency enters into circulation. It's performed using sophisticated hardware that solves a complex computational math problem. The first computer to find the solution to the problem receives the next block of bitcoins — and the process begins again.

What's happening: Fort Worth will join the Luxor Mining Pool, a U.S.-based company, Carlo Capua, deputy chief of staff for the Fort Worth Mayor and Council Office, tells Axios. Luxor has agreed to assist with any maintenance or repairs needed.

• The mining machines will run around the clock in a climate-controlled data center at Fort Worth City Hall and housed on a private network to minimize security risk.
• At the conclusion of the six-month pilot program, the city will assess the implications and opportunities for bitcoin in Fort Worth.
• The city plans to convert the bitcoin into cash once it reaches a certain threshold and then transfer the funds to the city account. Capua didn't say what that threshold will be.

Details: Because the pilot is small, the proceeds will be minimal.

Read the full story.

The projected business travel revenue for 2022 in Dallas is down more than $350 million compared to 2019, according to a report by the American Hotel and Lodging Association.

Why it matters: Business travel, which includes corporate, group, government, and other commercial spending, is the hotel industry's largest source of revenue.

By the numbers: The report projects $1.2 billion in Dallas business revenue this year.

• That's down 21.9% from 2019, when business revenue was roughly $1.6 billion.

Yes, but: That's not nearly as bad as other cities. San Francisco and New York are down 68.8% and 55.3% respectively.

• Austin is down 27.9%
• Houston is down 26.2%

The bottom line: As pandemic restrictions drop in other cities, their revenues will go up, possibly eating into Dallas' share of business travel.

💭 Our thought bubble: This sure does seem like a terrible time to build a multi-billion-dollar convention center.

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🚔 A Dallas police officer is on administrative leave after being accused of sexually assaulting someone while on duty. (NBC5)

⚖️ The U.S. Supreme Court heard arguments in Texas v. Biden about the "remain in Mexico" policy the administration would like to end. (Reuters)

🌮 Favor, a Texas-based food delivery company, will pay someone $10,000 to sample tacos all over the state as the firm's Chief Taco Officer. (CNN)

⚧ A Dallas appeals court has temporarily stayed an order that two UT Southwestern leaders answer questions under oath about changes to its Genecis program for transgender youth. (DMN)

🕯️ A Crowley High School track star was killed in a shooting at a "large gathering" outside a thrift store. (WFAA)

Spring has definitely sprung in Dallas.

If you ever patronize the opulent merchants of Watters Creek in Allen, stop at this little French cafe for some coffee and an awesome crepe.

What we ordered: Vanilla cream and berries crepe.

Where: Frogg Coffee Bar & Crêperie, 832 Watters Creek Blvd., in Allen.

Cost: $8.

Pro tip: There's a pretty elaborate play area next to the patio, so bring the kids and let them loose.

Six word review: Soft, syrupy Frenchness, devoured in seconds.

🍰 Know a delicious dessert we should be sampling? Hit reply, and tell us.