Chemical Tax Repeal Act

# Chemical Tax Repeal Act Summary **What the Bill Would Do** HR 640, known as the Chemical Tax Repeal Act, would eliminate a federal tax on certain chemical products. The bill aims to remove a tax provision that currently applies to manufacturers and importers of specific chemicals used in industrial processes, pharmaceuticals, and other commercial applications. **Who It Affects** This legislation would directly impact chemical manufacturers and importers who currently pay the tax. Indirectly, it could affect consumers and businesses that use chemical products, potentially lowering costs if companies pass savings along. The bill would also reduce federal government revenue from this tax source. **Current Status** As of now, HR 640 remains in committee, meaning it has not yet advanced to a full vote in the House of Representatives.

The bill was introduced by Rep. Beth Van Duyne (R-TX) in the 119th Congress. No additional details about specific provisions, fiscal impact, or committee actions are currently available in the bill summary provided.