Federal Tax Plan Would Raise Cost of Plastics by $120 Billion

One of the federal proposals to pay for the $3.5 trillion Build Back Better Act is a new excise tax on plastics that are not reprocessed or recovered. The tax would be $0.20 per pound of virgin plastics used to make single-use plastics products, according to the non-partisan Tax Foundation.

The American Chemistry Council says the “plastic tax” is actually a $120 billion tax over ten years on “most everything Americans buy” and “a gift to China” since it would increase the cost of consumer goods by up to 26%. 10/5/2021