Congresswoman Carol Miller and U.S. Representatives Beth Van Duyne, Darin LaHood, and Mike Carey have introduced legislation aimed at repealing a tax from the Biden administration. The Superfund Tax targets chemical manufacturers with $15 billion in taxes on materials used to produce household goods.
Congresswoman Miller stated, “The U.S. chemical industry has been wrongfully targeted by President Biden’s Superfund tax ever since the Infrastructure Investment and Jobs Act of 2021.” She added that this tax has increased costs for household goods and put American manufacturers at a disadvantage compared to foreign competitors like China.
Congresswoman Van Duyne echoed these sentiments, saying, “President Biden’s highly flawed chemical tax drove up prices for goods like soap, lightbulbs, and electronics while putting U.S. manufacturers at a disadvantage against countries like China.”
Congressman LaHood expressed his support for the repeal effort: “The wrongful reinstatement of the Superfund excise tax under the Biden-Harris Administration has led to higher prices on household products for everyday Americans.”
Chris Jahn, President and CEO of the American Chemistry Council, commented on the potential economic impact: “Estimates by the Joint Committee on Taxation indicate these taxes could result in a nearly $15 billion hit to the economy by the time they expire at the end of 2031.”
Eric Byer, President & CEO of Alliance for Chemical Distribution, highlighted challenges faced by small businesses due to this tax: “Since the tax’s reinstatement in 2021, it has created significant regulatory and financial challenges for our members.”
The Chemical Tax Repeal Act was first introduced in the 118th Congress by Representatives Miller, Van Duyne, and Carey.
