New EPA Ozone Regulations Could Cost U.S. Economy $3.4 Trillion
Sunday, August 3, 2014 - 12:00
in Mathematics & Economics
A new study commissioned by the National Association of Manufacturers (NAM) estimates that the Obama Administration's new ozone restrictions could reduce GDP by $270 billion per year and carry a compliance price tag of $2.2 trillion from 2017 to 2040 - the most expensive regulation the U.S. government has ever issued. In total, the study finds that letting the EPA revise the ozone standard for manufacturing from 75 parts per billion (ppb) to 60 ppb - below what even exists at national parks, such as Yellowstone and Denali - could:- Reduce U.S. GDP by $270 billion per year and $3.4 trillion from 2017 to 2040; - Result in 2.9 million fewer job equivalents per year on average through 2040; read more