A substitute amendment that eliminates the bill's $4.5 billion broad based Superfund Excise Tax, and instead relies on higher chemical and oil taxes, a higher wasteend tax, and on greater general revenues. The substitute raises $10 billion over five years, including $3.1 billion from an 11.9% per barrel tax on crude oil; $2 billion from taxes on chemical feedstocks; $2 billion from a wasteend tax; and $1.6 billion from general revenues.

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Amendment Number
696
Description
A substitute amendment that eliminates the bill's $4.5 billion broad based Superfund Excise Tax, and instead relies on higher chemical and oil taxes, a higher wasteend tax, and on greater general revenues. The substitute raises $10 billion over five years, including $3.1 billion from an 11.9% per barrel tax on crude oil; $2 billion from taxes on chemical feedstocks; $2 billion from a wasteend tax; and $1.6 billion from general revenues.
Congress
99
Type
HAMDT
Latest Action Date
Dec 10, 1985
Latest Action Text
Amendment Passed in Committee of the Whole by Recorded Vote: 220 - 206 (Record Vote No: 444).
Submitted Date
Dec 10, 1985
Chamber
House of Representatives
Update Date
Jun 30, 2021
Amendment 696 — Informed