[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1195 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 1195

 To amend the Internal Revenue Code of 1986 to repeal the excise taxes 
              on taxable chemicals and taxable substances.


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                   IN THE SENATE OF THE UNITED STATES

                             April 19, 2023

    Mr. Cruz (for himself, Mr. Kennedy, Mr. Lee, and Mr. Barrasso) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to repeal the excise taxes 
              on taxable chemicals and taxable substances.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Chemical Tax Repeal Act''.

SEC. 2. REPEAL OF EXCISE TAXES ON CERTAIN CHEMICALS AND SUBSTANCES.

    (a) In General.--Chapter 38 of the Internal Revenue Code of 1986 is 
amended by striking subchapters B and C (and by striking the items 
relating to such subchapters in the table of subchapters for such 
chapter).
    (b) Effective Date.--The amendments made by this section shall take 
effect on January 1, 2023.
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