Word: epa
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Dates: during 1970-1979
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Where newer agencies like the EPA and OSHA are concerned, even the most ardent deregulators want some rules to remain, admitting that it is impossible to put a dollar price on social welfare. But at the same time they argue that there are now too many silly, contradictory and ineffective rules that snarl enterprise in red tape. Above all, they see a need to identify and enact sensible changes that would allow regulation to achieve much the same social goals in a less wasteful way and with a much smaller damage to other, equally important economic goals, including job-creation...
...second category is compliance costs, which are what employers have to spend to meet the regulations, and the multiplier effect can be large. For example, the EPA's 1976 spending was only $416 million, but its rules forced industry to spend at least $7.8 billion. In a long and complex study, Weidenbaum estimated that total administrative costs of $3 billion in 1976 generated compliance costs that add up to a staggering $63 billion, equivalent to a hidden tax of $307 on every person...
Sometimes new regulation can be the straw that breaks a company's back. The Lead Industries Association estimates that 45 lead plants, which account for some 80% of total U.S. lead smelting and refining capacity, will be unable to meet the EPA'S strict new air standards. Environmental and safety regulations have forced dozens of foundries and a few older steel plants to close. The Employee Retirement Income Security Act (ERISA) demanded such strict reporting and actuarial record-keeping that thousands of smaller firms dropped their private pension plans for employees rather than try to comply...
...EPA and Consumer Product Safety Commission's 1974 ban on the use as a propellant of vinyl chloride, shown to be the cause of a rare form of liver cancer, from a host of aerosol products...
...meet environmental standards. So anxious are construction men about this situation that the National Home Builders Association has asked the Environmental Protection Agency to allow cement makers more time to install antipollution devices and permit the reopening of some plants that have been shut down. But even if the EPA were to agree, some builders may be unable to get the cement they need before the first freeze...