IHS Chemical Week

People & Business :: Corporate Social Responsibility

Lautenberg Proposes Reinstating Superfund Tax

11:10 AM MDT | March 25, 2010 | Vincent Valk

Senator Frank Lautenberg (D., NJ) has introduced a bill calling for the restoration of taxes on chemical and oil and gas firms to pay for Superfund clean-ups. The taxes, which paid into a trust fund that went bankrupt in 2003, expired in 1995. Since 2003, the government has funded Superfund clean-ups from general tax revenue. "It’s time to shift the financial burden away from taxpayers, and back to the industries that contaminate these properties," Lautenberg said in a statement. The bill, the Polluter Pays Restoration Act, would restore the taxes...

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