CONGRESS FOR VOTERS

RepublicanBill · H.R. 640· House(119-HR-640)

Chemical Tax Repeal Act

Rep. Van Duyne
Age: 56 years
Texas
Introduced
1/22/2025
Last activity
1/22/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Beth Van Duyne
Cosponsors
Republican - 9Democrat - 0
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the "Chemical Tax Repeal Act," aims to amend the Internal Revenue Code of 1986. The primary goal is to repeal specific excise taxes currently applied to taxable chemicals and taxable substances. To achieve this, the bill instructs the striking of subchapters B and C from Chapter 38 of the Internal Revenue Code. These changes are set to take effect retroactively as of January 1, 2024.

Yes· 3 of 6

  • Would business owners be better off under this?+4

    Business owners will benefit from lower costs of inputs due to the repeal of chemical excise taxes.

  • Does this cut taxes for small businesses?+3

    Removing excise taxes on chemicals can reduce costs for small businesses that utilize these substances.

  • Would households on low incomes be better off under this?+2

    Lowering the cost of taxed chemicals and substances can provide slight relief for low-income household budgets.

The opposite

  • Does this better protect air, water and wildlife?-3

    The removal of taxes on specific chemicals may reduce the economic deterrents for their production and use.

  • Does this reduce what the federal government spends?-2

    Repealing excise taxes reduces the amount of revenue the federal government collects.