The American Chemistry Council (ACC) issues the following statement from its president and CEO Chris Jahn in response to Senate passage of bipartisan infrastructure legislation:
“While we commend Senate lawmakers for approving legislation that will help bring America’s infrastructure into the 21st century—including provisions that will spur the development and use of advanced materials, many of which rely on chemistry—we remain gravely concerned and baffled that the package includes new taxes on materials that serve as building blocks for U.S. manufacturing.
“As a result of the new Superfund excise taxes on 42 chemicals, critical minerals and metallic elements, America’s global manufacturing competitiveness is threatened by countries like China, and consumers will pay more for a variety of goods, including some of the very items needed for infrastructure development and climate improvement. This when Americans are already struggling with spiking inflation and rising prices. This misguided ‘pay-for’ singles out the chemical industry, which has been a driver of U.S. investment and job creation over the past decade.
“We urge Congress and the Biden Administration to work with us to find ways to forestall this provision that will have far-reaching, negative consequences for our nation’s economy. Legislating is hard work, and we are heartened by those members who recognize the ill-informed approach of this punitive ‘pay-for.’ There is still time to enact an infrastructure package that achieves important national priorities while preserving the competitive strength of the U.S. business of chemistry and American manufacturing.
“If enacted, these new taxes will erode our nation’s competitive edge. Congress must avoid pursuing any additional tax policies that will damage U.S. chemical manufacturing.”
For more information, visit: www.americanchemistry.com
