Friday, March 5, 2010

BREAKING NEWS – Commissioners support an economic impact analysis of the CPSIA

I know that you will be happy to hear that both Chairman Inez Tenenbaum and Commissioner Nancy Nord agreed on the need for an economic impact analysis of the CPSIA at this week’s congressional hearing before the House Appropriations Subcommittee on Financial Services.

Given that the question of economic data was brought up by Ranking Member Jo Ann Emerson and that Congress has been considering ways to amend the CPSIA due to its unintended economic consequences (see our Recommendations to Congress and my personal statement here), it is clear that our agency should be making these studies a priority.

Just as you have expressed concerns about the CPSIA's impact on our economy, it is clear that Congress shares those same concerns. I believe we should be doing everything we can to define and aggregate the economic impact of the law and I look forward to starting these studies soon!

1 comment:

Capitolization said...

The Handmade Toy Alliance recently posted a study they did that shows that Congress & CPSC could save manufacturers $3.7 billion (yes, Billion) by allowing XRF for testing.