Should Congress reinstate the “Superfund taxes”?
From 1980 to 1995, the Superfund program was funded largely by taxes on crude oil, imported petroleum products, hazardous chemicals, imported substances that use hazardous chemicals as a feedstock, and on corporate modified alternative minimum taxable income. These taxes were commonly referred to as the “Superfund taxes” or “polluter pays taxes”. Since those taxes expired at the beginning of 1996, Superfund has been largely financed from General Revenue transfers to the Superfund Trust Fund. On June 21, EPA sent a letter to Congress supporting the reinstatement of the taxes.
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