Group: Reinstatement of Superfund tax will hurt chemical industry

06/20/2010 | Washington Post, The

A legislative effort headed by Rep. Earl Blumenauer, D-Ore., to reinstate the "Superfund" tax on oil and chemical companies, is gaining traction because of the recent BP accident in the U.S. Gulf. The chemical industry "have invested literally billions of dollars" into cleaning up sites, making the plan to restore Superfund excise taxes "blatantly inequitable and unfair," said Cal Dooley, president and CEO of the American Chemistry Council. The measure will curtail economic recovery because it will be "shifting jobs outside the United States to chemical manufacturers that would not be subject to this tax," Dooley added.

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