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H.R. 640119th CongressIn committeeLatest action Jan 22, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
HR 640 would repeal a federal chemical tax retroactive to Jan. 1, 2024, reducing dedicated funding for Superfund cleanup sites.
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HR 640 would eliminate a federal excise tax on certain industrial chemicals and chemical-based substances. The repeal would be retroactive to January 1, 2024, meaning companies would be treated as if the tax never applied from that date. The bill was introduced in January 2025 and is currently before the House Ways and Means Committee.
Chemical manufacturers, importers, and industries that use large amounts of industrial chemicals — including plastics, petroleum, and manufacturing companies — are most directly affected. Americans who live near Superfund cleanup sites may also be affected by changes to program funding.
The tax being repealed was originally created to fund the Superfund program, which pays for cleaning up heavily polluted sites across the country. Removing the tax would reduce dedicated revenue for that program, potentially affecting its capacity to fund environmental cleanup.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Referred to the House Committee on Ways and Means.