CFC’s Phaseout

In 1989 the U.S. Congress enacted a tax on eight ozone depleting chemicals (ODC’s) as part of the Omnibus Budget Reconciliation Act. It extended this tax to 12 additional chemicals and raised the tax on the original 8 chemicals in the National Energy Policy Act of 1992. The Clean Air Act (Title VI)established caps on most CFC’s as agreed upon under the Montreal Protocol, with a complete phase out occurring around the year 2000. Thetax on CFC’s was $1.37 a pound in 1990 and 1991, about twice the then current product price. Recycled CFC’s were exempted from the tax.… Read More