Chemical Tax Repeal Act
S 615, the Chemical Tax Repeal Act, repeals excise taxes on specific chemicals and substances currently levied under the Internal Revenue Code. It removes Subchapters B and C of Chapter 38 (which governed these taxes) from the tax code, directly affecting chemical manufacturers and distributors who paid these taxes. The repeal takes effect January 1, 2025, eliminating these specific tax obligations for affected businesses.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
President
Introduced Feb 18, 2025
Last action Feb 18, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Feb 18, 2025
Committee
Read twice and referred to the Committee on Finance.
upper
Feb 18, 2025
Introduced
Introduced in Senate
upper
1 primary · 7 co-sponsors
Sponsors
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