Biden’s new regulation may eliminate 1M American jobs
OAN’s James Meyers
8:11 AM – Friday, February 23, 2024
The Biden administration’s Environmental Protection Agency (EPA) has implemented a new regulation that could have a devastating impact on the economy, potentially resulting in the loss of one million jobs and hindering the construction of new manufacturing facilities.
In his annual state of manufacturing address, Jay Timmons, President and CEO of the National Association of Manufacturers, publicly criticized the Biden administration for its actions. He acknowledged President Biden’s support for manufacturing but highlighted the contradictory actions of federal agencies that are working against the industry’s success. Timmons revealed that a recent regulation, known as National Ambient Air Quality Standards or PM2.5, could potentially eliminate up to one million jobs and severely restrict the construction of new manufacturing facilities across the country.
“It’s not the name that matters. It’s the consequences. It’s stricter than the rules they have even in Europe. And in vast portions of the country, we will barely be able to build new manufacturing facilities as a result,” Timmons added.
The EPA introduced this regulation in January 2023 and finalized it on February 7th. The new rule aims to tighten the NAAQS for fine particle pollution, lowering the air quality standard from 12 micrograms per cubic meter.
Additionally, EPA Administrator Michael Regan said in announcing the rule that the “final air quality standard will save lives and make all people healthier, especially within America’s most vulnerable and overburdened communities.” The EPA also says the revision will prevent “up to 4,500 premature deaths and 290,000 lost workdays, yielding up to $46 billion in net health benefits in 2032.”
Despite the potential challenges, Timmons expressed optimism about the future of manufacturing, highlighting the potential of Artificial Intelligence to enhance productivity and innovation in the industry.
“Artificial intelligence may unlock new superpowers for American workers. We might reach a point where no other country can keep up with our productivity or the pace of innovation. Manufacturing investment could flock to our shores even faster,” he added.
While acknowledging issues such as trade barriers and tax hikes, Timmons emphasized that the state of manufacturing in America remains strong and resilient, although it is currently under threat.
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What are the potential consequences of burdensome requirements and restrictions imposed by regulations on the economy?
Crease efficiency in the industry. However, he emphasized the need for supportive policies and regulations that promote growth and innovation rather than hinder it.
The National Association of Manufacturers is not alone in its concerns. The new regulation has also faced criticism from other industry leaders and economists who believe that it could have dire consequences for the economy. They argue that the burdensome requirements and restrictions imposed by the regulation will discourage investment and hinder the growth of manufacturing businesses.
One of the main concerns is the potential for job losses. With the implementation of this regulation, many companies may struggle to meet the new air quality standards and may be forced to either shut down or reduce their operations. As a result, numerous workers could be left unemployed, adding to the already high unemployment rate in the country.
Furthermore, the regulation could also impede the construction of new manufacturing facilities. The strict standards and requirements set by the EPA may make it financially unfeasible for companies to build new factories or expand their existing ones. This would not only hinder the growth of the manufacturing sector but also limit the potential for job creation and economic development.
While it is important to prioritize environmental protection and improve air quality, the Biden administration must also consider the economic implications of its actions. Striking a balance between environmental sustainability and economic growth is crucial to ensure a thriving and prosperous future for the country.
There are alternative approaches that can be explored to achieve both goals. For example, incentivizing companies to adopt cleaner technologies and practices rather than imposing stringent regulations could be a more effective and collaborative approach. This would encourage innovation and investment in sustainable manufacturing while also improving air quality.
In conclusion, the Biden administration’s new regulation implemented by the EPA has raised concerns about its potential impact on the economy. The manufacturing industry, in particular, is at risk of significant job losses and restrictions on growth and innovation. While environmental protection is essential, a balanced approach that considers both economic and environmental factors is crucial for creating a sustainable and thriving future. It is imperative for policymakers to work in collaboration with industry leaders to develop solutions that ensure both environmental sustainability and economic prosperity.
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