What law imposed a tax on the chemical and petroleum industries to address hazardous substance releases?

The law referred to in this context is the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), which was enacted in 1980. This legislation is commonly known as the "Superfund" law. It was designed to address the growing concern over hazardous substance releases into the environment and establish a mechanism for cleaning up contaminated sites.

Under CERCLA, the government was authorized to impose taxes on the chemical and petroleum industries, generating a fund specifically aimed at cleaning up sites contaminated with hazardous substances. The rationale behind this tax was to hold those responsible for pollution accountable and to ensure that the necessary funds were available for environmental clean-up efforts.

In summary, CERCLA plays a crucial role in evaluating and remediating sites impacted by hazardous substances, making it essential to the framework of environmental protection and public health initiatives in the United States.