October 8, 2021

Plastics industry asked US Congress to drop tax on virgin plastic

The Plastics Industry Association on behalf of 67 companies urged US Congress to drop the inclusion of a 20 cent/lb tax on virgin plastic resin in the USD3.5tr budget reconciliation package, said the organization. In the letter sent to both chambers of Congress, major plastic producers raised concerns about increased costs to the entire plastic industry chain and reduced US manufacturing competitiveness. Among the companies signing the letter were Chevron Phillips, Eastman, Epsilyte, ExxonMobil, Formosa, LyondellBasell, NOVA Chemicals, SABIC, Shell and Westlake Chemical.