To amend the Internal Revenue Code of 1986 to expand the expensing of environmental remediation costs.

Amends the Internal Revenue Code with respect to environmental remediation cost expensing to: (1) make such provision permanent; (2) include toxic substances within the definition of "hazardous substance"; (3) include toxic substances or structures containing hazardous or toxic substances within the definition of "qualified contaminated site"; and (4) eliminate a related recapture provision.