Search Results: keywords:"taxable substances"

  • H. R. 640 — To amend the Internal Revenue Code of 1986 to repeal the excise taxes on taxable chemicals and taxable substances.
    Status:Introduced in House
    Words:226

    H.R. 640 seeks to amend the Internal Revenue Code of 1986 by repealing the excise taxes on certain chemicals and substances. The bill was introduced in the House of Representatives by Ms. Van Duyne and other co-sponsors, and it has been referred to the Committee on Ways and...

    Simple Explanation

    H.R. 640 is a bill that wants to stop certain taxes on chemicals, like saying you don't have to pay extra money for some special types of stuff anymore. This change is supposed to start from January 1, 2024.

  • S. 615 — To amend the Internal Revenue Code of 1986 to repeal the excise taxes on taxable chemicals and taxable substances.
    Status:Introduced in Senate
    Words:228

    S. 615 proposes to change the Internal Revenue Code of 1986 by removing specific excise taxes on certain chemicals and substances. Known as the “Chemical Tax Repeal Act,” this bill, introduced by Mr. Cruz and co-sponsored by several senators, aims to eliminate subchapters B...

    Simple Explanation

    S. 615 is a proposed law to stop charging extra taxes on certain chemicals and substances. This would begin at the start of 2025.