Blumenauer Aims to Revive Superfund Taxes on Oil, Chemicals

Crude oil and chemical companies would once again pay excise taxes for producing products that generate hazardous waste under a bill introduced Tuesday by Rep. Earl Blumenauer (D-Ore.).

The bill restores three taxes that expired in 1995—levies on crude oil or refined oil products, hazardous chemicals, and a corporation’s taxable income if it is over $4.7 million. The revenue from the measure would help clean up toxic and hazardous waste sites.

• The bill aligns with President Joe Biden’s infrastructure proposal. The plan called for eliminating tax preferences for the oil and gas industry and requiring polluting companies ...