Kennedy, Cruz offer amendment to block tax that targets key Louisiana industry, jobs

Source: United States Senator John Kennedy (Louisiana)

WASHINGTON – Sens. John Kennedy (R-La.) and Ted Cruz (R-Texas) filed an amendment to the Senate infrastructure bill that would block a new tax on chemical manufacturers.

“The infrastructure bill’s chemical tax would cost Louisiana companies more than one billion dollars, which puts good jobs in danger. The chemical industry supports more than 100,000 jobs in our state, and this tax takes direct aim at those jobs. I urge the Senate to adopt this amendment blocking that tax,” said Kennedy.

The proposed tax would cost Louisiana companies $125 to $130 million a year. Over 10 years, that tax would total roughly $1.3 billion. Many of the chemicals the tax penalizes are used to manufacture batteries, light bulbs, soap, paper, medical supplies and other common consumer items.

Text of the amendment is available here.