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S 615119th CongressIntroduced
Chemical Tax Repeal Act
Introduced: Oct 29, 2025
Economy & Taxes
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Chemical Tax Repeal Act proposes to amend the Internal Revenue Code by eliminating excise taxes on specific chemicals and substances, removing Subchapters B and C of Chapter 38, effective January 1, 2025.
Key Points
- 1Repeals excise taxes on taxable chemicals and substances under Chapter 38 of the IRC.
- 2Amendments involve striking Subchapters B and C and related table entries.
- 3Effective date set for January 1, 2025, indicating immediate implementation.
Impact Areas
Chemical manufacturing industriesFederal government revenue streamsConsumer goods pricing and availability
Generated by legislative-analysis-v3 on Nov 2, 2025