New Environmental Protection Agency (EPA) regulations could bring massive job losses to Arkansas, according to the National Association of Manufacturers (NAM).
From the NAM report released today about the Obama administration’s new ozone emission standards:
The Environmental Protection Agency’s (EPA) new ozone regulation could be the most expensive ever issued on the American public, costing the nation $270 billion to $360 billion annually. This regulation would hurt manufacturers and could increase costs for households in Arkansas while reducing workers’ incomes by the equivalent of 10,489 lost jobs, according to a new study by NERA Economic Consulting and commissioned by the National Association of Manufacturers. Cities, towns and rural areas across the United States would see reduced economic growth as unachievable permitting requirements prevent businesses from expanding or opening up new operations. Local and state governments would have to revisit vehicle inspection programs.
You can read the rest of the report here.
The report describes the dangers of our post-legislative world in Washington D.C., where major decisions with extraordinary negative effects on businesses and consumers can be made by federal bureaucrats without Congressional approval.
Jay Timmons, President and CEO of NAM, said in a conference call with reporters today:
I think the issue that we have here is the enormity of the cost that would be required to implement this regulation…add on to that the enormity of the cost to greenhouse gas regulation. Manufacturers are just starting to make a comeback in this country and there seems to be, at least rhetorically, there seems to be an interest by leaders of both political parties to want to expand the manufacturing base, because it is so important as a driver of economic growth and job creation. But you can’t grow manufacturing simply through good feelings. You’ve got to make sure you have the right policy environment that allows that to occur. One thing that we do know is that regulations that drive up the cost of doing business here in the United States which this regulation and certainly others that have been talked about on this call does harm growth and harm job creation.
Earlier in the summer, I wrote about a set of new carbon regulations handed down by EPA bureaucrats — which will likely lead to higher utility bills for Arkansans.