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Chemical Tax Repeal Act: Eliminating Excise Taxes on Chemicals and Substances.

This bill proposes to completely eliminate federal excise taxes currently imposed on specific chemicals and chemical substances. If enacted, this could reduce manufacturing costs across various industries, potentially leading to lower prices for everyday goods like plastics, fertilizers, or pharmaceuticals. The changes are intended to take effect retroactively from January 1, 2024.
Key points
Repeal of federal excise taxes on taxable chemicals and substances, potentially lowering costs for manufacturers.
Possible reduction in consumer product prices that rely on chemicals (e.g., household goods, fuels, medicines).
The tax law changes are set to take effect retroactively, starting January 1, 2024.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_640
Sponsor: Rep. Van Duyne, Beth [R-TX-24]
Process start date: 2025-01-22
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Chemical Tax Repeal Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_640.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-22.

What are the main provisions?

Key points include:

  • Repeal of federal excise taxes on taxable chemicals and substances, potentially lowering costs for manufacturers.
  • Possible reduction in consumer product prices that rely on chemicals (e.g., household goods, fuels, medicines).
  • The tax law changes are set to take effect retroactively, starting January 1, 2024.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Van Duyne, Beth [R-TX-24].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-31.

CATEGORIES

Taxes Economy Environment