Tax Law Updates | New Proposed Regulations
July 6, 2010
Reinstatement of Superfund “Polluter Pays” Tax Strongly Sought in the Aftermath of Gulf Oil Spill
Reinstatement of Superfund “Polluter Pays”Tax
No. _____, 6/21/2010
The U.S. Environmental Protection Agency (“EPA”) has asked Congress to reinstate the lapsed Superfund “polluter pays” taxes.
By way of background, Superfund is the federal government’s program that investigates and cleans up the nation’s most complex, uncontrolled or abandoned hazardous waste sites. If reinstated, the Superfund provision would provide a stable, dedicated source of revenue for the program and increase the pace of Superfund cleanup.
It would also ensure that parties who benefit from the manufacture or sale of substances that commonly cause environmental problems at hazardous waste sites, and not taxpayers, help bear the cost of cleanup when responsible parties…
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