CONGRESS FOR VOTERS

RepublicanBill · S. 615· Senate(119-S-615)

Chemical Tax Repeal Act

Rep. Cruz
Age: 56 years
Texas
Introduced
2/18/2025
Last activity
2/18/2025 — Read twice and referred to the Committee on Finance.
Sponsored by
Ted Cruz
Cosponsors
Republican - 7Democrat - 0
Taxation
  1. Introduced
  2. In Committee

What this bill would do

The Chemical Tax Repeal Act aims to change the Internal Revenue Code of 1986. It specifically focuses on repealing excise taxes that currently exist on taxable chemicals and taxable substances. This is achieved by striking subchapters B and C from Chapter 38 of the code. The bill is intended to remove these specific tax structures. The changes are set to take effect on January 1, 2025.

Yes· 3 of 8

  • Would business owners be better off under this?+5

    Business owners in chemical-dependent industries will benefit from the removal of these excise taxes.

  • Would farmers be better off under this?+3

    Farmers often rely on chemical substances and would benefit from the repeal of these taxes.

  • Does this cut taxes for small businesses?+3

    Removing excise taxes on chemicals and substances reduces the tax burden for small businesses that utilize these products.

The opposite

  • Does this better protect air, water and wildlife?-4

    The removal of taxes on chemicals may reduce the economic deterrents for using certain industrial substances.

  • Does this reduce what the federal government spends?-3

    The repeal of these excise taxes will reduce federal tax revenue.