HR 2703
Superfund Polluter Pays Act
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- Passed House
- Passed Senate
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- Became Law
Bill overview
The Superfund Polluter Pays Act aims to strengthen the Superfund program by increasing funding and establishing a new corporate tax. Specifically, it extends the hazardous substance superfund financing rate to 16.3 cents per barrel, adjusted for inflation, and introduces a 0.12% tax on a corporation’s excess modified environmental tax taxable income over $3.13 million, with an inflation adjustment. The bill also establishes a new environmental tax for corporations, designed to ensure that those responsible for pollution contribute to cleanup efforts.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Frank, Jr. Pallone
Cosponsors
A. Donald McEachin
Bill, Jr. Pascrell
Donald M., Jr. Payne
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