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To amend the Internal Revenue Code of 1986 to repeal the excise taxes on taxable chemicals and taxable substances.
Summary
This bill would repeal federal excise taxes on taxable chemicals and chemical substances. The bill eliminates two subchapters of Chapter 38 of the Internal Revenue Code that impose these taxes. The repeal would take effect on January 1, 2025. The bill removes a federal tax on chemical products that manufacturers and importers were required to pay.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Cruz, Ted [R-TX] (R-TX)
7 cosponsors
- Sen. Barrasso, John [R-WY] (R-WY)
- Sen. Cassidy, Bill [R-LA] (R-LA)
- Sen. Cornyn, John [R-TX] (R-TX)
- Sen. Ernst, Joni [R-IA] (R-IA)
- Sen. Kennedy, John [R-LA] (R-LA)
- Sen. Lee, Mike [R-UT] (R-UT)
- Sen. Mullin, Markwayne [R-OK] (R-OK)
Money behind the sponsor
Top reported contributors to Ted Cruz’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $4,424,745
- ENTREPRENEUR $458,096
- RDV CORPORATION $39,600
- AMERICAN AIRLINES $29,632
- BLACKSTONE $27,400
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Ted Cruz → · Outside spending →
Actions (2)
- Feb 18, 2025 Read twice and referred to the Committee on Finance. · senate
- Feb 18, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
February 18, 2025
Mr. Cruz (for himself, Mr. Kennedy, Mr. Cornyn, Mr. Barrasso, and Mr. Lee) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to repeal the excise taxes on taxable chemicals and taxable substances.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Chemical Tax Repeal Act”.
SEC. 2. REPEAL OF EXCISE TAXES ON CERTAIN CHEMICALS AND SUBSTANCES.
(a) In General.—Chapter 38 of the Internal Revenue Code of 1986 is amended by striking subchapters B and C (and by striking the items relating to such subchapters in the table of subchapters for such chapter).
(b) Effective Date.—The amendments made by this section shall take effect on January 1, 2025. <all>
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