The US Senate on August 10 passed, 69-30, a $1 trillion bipartisan infrastructure bill (HR 3684, the ‘‘Infrastructure Investment and Jobs Act”), with $550 billion in new infrastructure spending that would be offset by a combination of tax and non-tax provisions. The offsets include a provision to reinstate the hazardous substance Superfund excise taxes on chemical manufacturing and imports (superfund excise taxes). The Senate-passed bill now goes to the House, where Democratic leaders have indicated that action on the bill may be delayed until and unless the Senate passes a ‘budget reconciliation’ spending and tax bill.
Source PwC
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