While more than 2,700 emergency removals of hazardous materials have taken place under Superfund, implementing the long-term cleanup program has been the object of considerable controversy. One of the most contentious issues is whether the liability standards in the law should be revised. The authors analyze the pros and cons associated with the current liability approach, as well as with a variety of alternative strategies.

Table of Contents:

Executive Summary
1. Introduction
2. Policy Options and Evaluative Criteria
3. Analysis of Policy Options
4. Conclusions
Appendixes
A. Description of NPL Survey Data
B. Corporate Environmental Tax Information
C. Estimating the Cost of the Five Policy Options
D. Distribution of Trust Fund Revenues for Policy Options