ACC says President Obama's proposed budget will make it more difficult for America's chemistry industry to compete globally, create jobs, says reinstatement of Superfund taxes could put an end to new investments
February 14, 2012
– The American Chemistry Council (ACC) issued the following statement in response to the Obama Administration’s release of its proposed Fiscal Year 2013 budget.
“We are concerned that the President’s budget proposal will make it more difficult for America’s chemistry industry to compete globally and create jobs. The proposal reinstates Superfund taxes, which could put an end to new investments, plants and job creation just as chemistry is driving a revival in U.S. manufacturing. Adding new taxes on industries that drive our economy is no way to insource American jobs.
“The proposal also appears to introduce yet another new, taxpayer-funded program to support a thriving industry. The natural gas vehicles market is growing rapidly, thanks to the benefits and affordability of natural gas. In fact, companies that retrofit their trucks or install natural gas fueling stations can recoup their costs in less than two years—a healthy return on investment by anyone’s standard. Yet the administration’s budget ‘includes funding to encourage greater use of natural gas in the transportation sector.’ We should let free markets work. And policymakers should recognize that artificial incentives could easily lead to higher costs for natural gas and electricity—both critical to American manufacturers.
“We’re encouraged that the EPA budget request recognizes the continued success of the new chemicals program under the Toxic Substances Control Act. However, as part of its request for increased funding, we urge the Agency to adopt a clear and scientifically-sound prioritization process. This approach can help EPA avoid wasting time, energy and resources when identifying chemicals for further evaluation.”