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SUPERFUND FINANCING ALTERNATIVES
Author(s) -
McNiel Douglas W.,
Foshee Andrew W.
Publication year - 1988
Publication title -
review of policy research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.832
H-Index - 45
eISSN - 1541-1338
pISSN - 1541-132X
DOI - 10.1111/j.1541-1338.1988.tb00893.x
Subject(s) - superfund , hazardous waste , business , externality , raw material , waste management , municipal solid waste , equity (law) , finance , natural resource economics , economics , engineering , chemistry , organic chemistry , political science , law , microeconomics
In 1980 Congress created the Superfund to pay for the selective cleanup of hazardous waste disposal sites. The original Superfund program was financed by earmarked “feedstock” taxes on petroleum and 42 chemicals, and by a “waste‐end” tax on hazardous waste received a t disposal facilities. Budgetary authority for the program expired in September 1985. Over a year elapsed before Congress renewed budgetary authority for the program by expanding the feedstock taxes, suspending the waste‐end tax, and imposing a new broad‐base tax on corporate income. This paper examines the efficiency and equity effects of the current and several alternative Superfund tax policies. Special emphasis is given to the administrative and compliance costs associated with each tax, and the capacity of each to complement EPA regulation of hazardous waste externalities.