What This Bill Does · Plain English
Summary · Congress.gov
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.
Action Timeline
2025-01-22
Referred to the House Committee on Ways and Means.
2025-01-22
Introduced in House
2025-01-22
Introduced in House
Frequently Asked Questions
Did HR.640 pass?
HR.640 is still alive. Current stage: COMMITTEE. Pass likelihood: 34%.
What does HR.640 do?
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…
Who sponsored HR.640?
HR.640 was sponsored by Beth Van Duyne (R-Texas).
Full Bill Text
119 HR 640 IH: Chemical Tax Repeal Act U.S. House of Representatives 2025-01-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 640 IN THE HOUSE OF REPRESENTATIVES January 22, 2025 Ms. Van Duyne (for herself, Mr. Carey , Mr. LaHood , and Mrs. Miller of West Virginia ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to repeal the excise taxes on taxable chemicals and taxable substances. 1. Short title This Act may be cited as the Chemical Tax Repeal Act . 2. Repeal of excise taxes on certain chemicals and substances (a) In general Chapter 38 of the Internal Revenue Code of 1986 is amended by striking subchapters B and C (and by striking the items relating to such subchapters in the table of subchapters for such chapter). (b) Effective date The amendments made by this section shall take effect on January 1, 2024.
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