Mid City Times

Washington, D.C. - Congresswoman Beth Van Duyne has introduced legislation aimed at repealing the Superfund tax imposed through the Infrastructure Investment and Jobs Act. The 2021 infrastructure law increased the Superfund Tax, resulting in approximately $15 billion in taxes on 42 different materials used in the production of everyday household goods.

In a statement, Rep. Van Duyne explained the purpose of the Chemical Tax Repeal Act, saying, "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. 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."

Joining Congresswoman Van Duyne in introducing the Chemical Tax Repeal Act are Representatives Mike Carey (OH-15) and Carol Miller (WV-01), both members of the House Committee on Ways and Means. A similar bill was introduced in the Senate earlier this year.

The American Chemistry Council, a trade association representing the chemical industry, voiced its support for the bill, stating, "As a result of these misguided taxes, U.S. manufacturing competitiveness is further threatened by countries like China. 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."

The Chemical Tax Repeal Act seeks to address concerns regarding the impact of the Superfund tax on working families and domestic manufacturers. With bipartisan support and backing from industry associations, the bill aims to alleviate the burden of increased taxes on essential materials used in the production of everyday goods. By repealing the Chemical Tax, the legislation aims to promote competitiveness in American manufacturing and ensure that consumers can afford essential household items.

The bill's introduction marks a step towards finding a solution to the challenges posed by the Superfund tax, as well as addressing broader issues of inflation and global competitiveness. As the legislation progresses, it remains to be seen how it will be received by Congress and whether it will ultimately be enacted into law.

To find out more, go to this link: https://vanduyne.house.gov/2023/11/rep-van-duyne-introduces-bill-to-repeal-biden-s-15-billion-chemical-tax