ACD Supports New Bill to Repeal Chemical Tax
The Alliance for Chemical Distribution (ACD) is expressing its support for the recently introduced Chemical Tax Repeal Act. The bill, which was introduced by Representatives Beth Van Duyne (R-TX), Mike Carey (R-OH), Darin LaHood (R-IL), and Carol Miller (R-WV), seeks to repeal the Superfund Excise Tax on chemical substances.
ACD President and CEO Eric R. Byer released a statement applauding the introduction of the bill. Byer highlighted the challenges that businesses have faced since the reinstatement of the Superfund Tax in 2021, including regulatory uncertainty and compliance challenges. He also noted the financial burdens that the tax has placed on ACD members, many of whom are small, family-owned businesses.
“Since the reinstatement of the Superfund Tax in 2021, businesses have faced significant regulatory uncertainty and compliance challenges. ACD members, many of whom are small, family-owned businesses, have navigated unclear guidance from the Internal Revenue Service and have faced tremendous financial burdens. ACD applauds Representatives Van Duyne, Carey, LaHood, and Miller for introducing this critical legislation and we urge swift passage to allow the chemical distribution industry to continue its vital work free from this tax burden,” Byer said.
The repeal of the Superfund Excise Tax is a top priority for ACD in the 119th Congress.
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