U.S. Rep. Beth Van Duyne (R-TX) introduced legislation to repeal the Superfund tax imposed through the Infrastructure Investment and Jobs Act.
The Superfund chemical excise tax impose a tax on the sale or use of “taxable chemicals,” and a tax on the sale or use of imported “taxable substances.”
The 2021 infrastructure law doubled the Superfund Tax, targeting chemical manufacturers with approximately $15 billion in taxes on 42 different materials. Van Duyne said these materials are essential to produce ordinary household goods. Her bill, the Chemical Tax Repeal Act, would eliminate it.
“I’m introducing the Chemical Tax Repeal Act to help America’s working families keep more of their hard-earned money and afford everyday goods like soap, lightbulbs, and electronics,” Van Duyne said. “President Biden’s misguided Chemical Tax not only increases the price of these household goods, it also makes it harder for our domestic manufacturers to compete globally. I remain focused on finding common-sense solutions to ease the pain of inflation for North Texas families and keep American manufacturing globally competitive, especially with adversaries like China.”
U.S. Reps. Mike Carey (R-OH) and Carol Miller (R-WV) joined van Duyne in sponsoring this bill. They are all members of the House Ways and Means Committee.
The American Chemistry Council also supports the bill.
“As a result of these misguided taxes, U.S. manufacturing competitiveness is further threatened by countries like China,” council officials said in a statement. “The taxes single out the chemical industry at a time when supply chain challenges and new proposed restrictions from the Biden administration pose significant challenges for the business of chemistry and our industry’s ability to create products that are important to national priorities.”