S. 615 · 119th Congress
Chemical Tax Repeal Act
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R
CruzSponsor7 cosponsors · 7 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill repeals the Hazardous Substance Superfund excise tax imposed on certain chemicals and chemical substances.
What it does: CRS summary · Introduced in Senate · Feb 18, 2025
Chemical Tax Repeal Act
This bill repeals the Hazardous Substance Superfund excise tax imposed on certain chemicals and chemical substances.
Under current law, an excise tax is imposed through December 31, 2031, on taxable chemicals and taxable chemical substances that are (1) manufactured or produced in the United States, or (2) imported into the United States. The excise tax rate varies between 44 cents per ton to $9.74 per ton, depending on the chemical and certain other variables. (There are 42 listed taxable chemicals and 151 listed taxable chemical substances.)
Further, under current law, amounts collected from the excise tax on taxable chemicals and taxable chemical substances are deposited into the Hazardous Substance Superfund, which finances the remediation of certain environmentally contaminated sites.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Chemical Tax Repeal Act
Latest action (Feb 18, 2025): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 18, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.