Another Episode of “LOST”

This fiscal year we found that at our mid-year budget review we had $7 million in funds that were not spoken for.  Therefore I proposed an amendment to the budget to allocate funds to do a cost/benefit analysis on the Product Testing and Certification rule, which sets out ground rules for continuing product testing.  This rule is one of the most significant rules we have ever considered and will have a significant impact on the global manufacturing chain. (See my statement on this rule here.)  We know it will have a major adverse impact on small businesses.  I believe that before we regulate we need the full picture – both the costs and the benefits – of this rule so that we can regulate from an informed point of view.  Unfortunately, my amendment was not accepted.  This is just another lost opportunity to get our arms around the potential costs of the CPSIA.  I am disappointed, and puzzled, that my colleagues, by not agreeing to this study, decided to move ahead without better insight into the effect of their actions. Read my full statement here.

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