Bipartisan Infrastructure Deal Raises Taxes $14 bi
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Posted On: 08/25/2021 6:42:20 PM
Bipartisan Infrastructure Deal Raises Taxes $14 billion
Calling it a ‘targeted corporate user fee’ doesn’t change the reality.
Regarding “A Not So Grand Infrastructure Deal” (Review & Outlook, July 30): We agree that the bill’s “pay-fors” deserve a closer look. In particular, we’re troubled to hear some of the bipartisan deal’s supporters call the reinstated Superfund taxes “targeted corporate user fees,” and others say it doesn’t increase taxes.
The plan includes $14 billion in new Superfund excise taxes on 42 chemicals, critical minerals and metallic elements. Make no mistake: These are taxes. The provision is called the Superfund tax, it amends the tax code, and the covered products are called taxable chemicals.
U.S. chemical manufacturers will bear much of the impact, with ripple effects to businesses and consumers through higher prices for goods that rely on chemistry components and increased pressure on supply chains. Americans at every income level will be affected. As Senate lawmakers and the Biden administration consider their next steps, let’s call this misguided proposal what it is.
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But But puTzzzzzzzzzzzzzzzzz IE
Joey said it was paid for all ready Why the TAX INCREASE ? ? ? ? ?
Calling it a ‘targeted corporate user fee’ doesn’t change the reality.
Regarding “A Not So Grand Infrastructure Deal” (Review & Outlook, July 30): We agree that the bill’s “pay-fors” deserve a closer look. In particular, we’re troubled to hear some of the bipartisan deal’s supporters call the reinstated Superfund taxes “targeted corporate user fees,” and others say it doesn’t increase taxes.
The plan includes $14 billion in new Superfund excise taxes on 42 chemicals, critical minerals and metallic elements. Make no mistake: These are taxes. The provision is called the Superfund tax, it amends the tax code, and the covered products are called taxable chemicals.
U.S. chemical manufacturers will bear much of the impact, with ripple effects to businesses and consumers through higher prices for goods that rely on chemistry components and increased pressure on supply chains. Americans at every income level will be affected. As Senate lawmakers and the Biden administration consider their next steps, let’s call this misguided proposal what it is.
===========================================
But But puTzzzzzzzzzzzzzzzzz IE
Joey said it was paid for all ready Why the TAX INCREASE ? ? ? ? ?
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