Infrastructure Law’s reinstatement of taxes on chemical companies goes into effect July 1; reinstatement is expected to raise US$12B in revenue for Superfund site cleanup nationwide over next five years

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LONG BRANCH, New Jersey , July 7, 2022 (press release) –

Congressman Frank Pallone, Jr. (NJ-06) applauded the reinstatement of the Superfund tax on chemical companies today. Pallone successfully advocated for reinstating the tax on chemical companies in the Bipartisan Infrastructure Law in an effort to ensure polluters, not taxpayers, foot the bill for cleaning up waste and pollution.

Pallone has long fought to reinstate the full Superfund taxes on corporate polluters that expired in 1995. His Superfund Polluter Pays Act would reinstate the full Superfund taxes, including taxes on crude oil and petroleum products. The Bipartisan Infrastructure Law’s reinstatement of taxes on chemical companies goes into effect today. The Internal Revenue Service has ordered chemical corporations to pay excise taxes on specific toxic substances beginning with their quarterly tax return from July through September that is due at the end of October 2022. The reinstatement is expected to raise $12 billion in revenue for Superfund site cleanup nationwide over the next five years.

“Today marks a historic day in our campaign to clean up Superfund sites. Thanks to the Bipartisan Infrastructure Law, we are one step closer to ensuring that American taxpayers do not pay for the mistakes of corporate polluters,” Pallone said. “This is exactly why I fought to include my Superfund Polluter Pays Act in the Bipartisan Infrastructure Law, and I’m pleased that the tax has been reinstated for many of the worst polluters. Taxpayers are tired of footing the bill for cleanups, and I’ll continue to fight to ensure that we hold corporations accountable.”

Pallone has been a longtime advocate for cleanup of Superfund polluting sites in New Jersey and around the nation. An estimated 50 percent of the state’s population lives within three miles of a Superfund site. In August, Pallone hosted EPA Administrator Michael S. Regan in Old Bridge to announce that EPA would advance cleanup of the Raritan Bay Slag Superfund site in Old Bridge Township and Sayreville. As a result of Pallone’s advocacy, the Raritan Bay Slag site was placed on EPA’s Superfund National Priorities List in 2009.

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