Chemical Tax Repeal Act
HR 640, the Chemical Tax Repeal Act, eliminates excise taxes on specific chemicals previously levied under Internal Revenue Code Chapter 38. It directly affects chemical manufacturers and distributors who paid these taxes on certain substances. The bill repeals the relevant tax provisions by amending the Internal Revenue Code, removing subchapters B and C of Chapter 38. This change takes effect on January 1, 2024, ending the tax requirement for covered chemicals.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
President
Introduced Jan 22, 2025
Last action Jan 22, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jan 22, 2025
Committee
Referred to the House Committee on Ways and Means.
lower
Jan 22, 2025
Introduced
Introduced in House
lower
1 primary · 9 co-sponsors
Sponsors
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