The Treasury recommends additional environmental tax increases in the Green Book. Superfund charges will be restored according to this proposal. Here is an explanation about how the Superfund taxes are calculated and which industries are being taxed.
Superfund sites are large environmental cleanup areas where the government sends out workers to mitigate environmental damage. One major Superfund site is located in Glendale, CA and involves chromium cleanup, according to the EPA. Surprisingly enough, the tax surcharges on several items stopped in 1996, according to the Treasury Green Book. The latest proposal returns tax charges for items such as imported oil and other petroleum, as well as certain toxic chemicals. The tax changes are relatively minor compared to the cost of a barrel of oil, as a tax of slightly less than ten cents is not material compared to an eighty dollar oil barrel of crude, although this is still a tax increase that will likely be passed on at the pump. More significant, the corporate environmental income tax may be restored according to this proposal. This 0.12% tax appears to be applied to all corporations above the income threshold, not just the ones that caused the damage to the Superfund sites, according to the Treasury recommendation in the Green Book. Both of these tax increases would last a decade and sunset at the end of 2020.
The provides information on the original distribution of these taxes. Apparently the fixed rates present before 1996 haven’t changed. Because of inflation, charges such as the ten cents a barrel oil tax would make up less of the revenue collected, and percentage based taxes such as the corporate environmental income tax would make up more of the revenue. The corporate environmental income tax originally produced more revenue than the petroleum tax according to Open Market. It appears that finance and insurance corporations may end up paying higher amounts because of this proposed tax increase than the oil companies and other petroleum industries. The original data given at the NCSE site is from 1993, when the FIRE industry was a much smaller proportion of the economy than it is now, and the FIRE industries listed paid around 27% of the Superfund tax.