Bill > S461

This bill, titled the Polluter Pays Restoration Act, aims to reinstate two taxes that help fund the Hazardous Substance Superfund, a program dedicated to cleaning up hazardous waste sites. Specifically, it would bring back the Hazardous Substance Superfund financing rate, which is an excise tax on certain chemicals, and the corporate environmental income tax, which is a tax on the income of corporations that engage in certain environmentally damaging activities. These taxes, which were previously in effect but expired, would be reinstated from the date the bill is enacted until December 31, 2020, meaning companies that contribute to environmental pollution would once again be financially responsible for contributing to the cleanup efforts.