Federal Government; regulatory overreach impacting the chemical industry and reevaluate proposed restrictions; urge
Impact
The resolution outlines how recent restrictions could limit access to essential products, increase costs, and potentially jeopardize both U.S. competitiveness and technological advancements. With 13 proposed new restrictions on the chemical industry identified, the resolution highlights fears about bans on certain chemistries and overly strict regulations that may threaten manufacturing viability. The implications of these regulations extend to critical supply chains, influencing the production of vital technologies such as semiconductors and electric vehicles.
Summary
Senate Resolution 703 (SR703) expresses concern regarding the regulatory overreach impacting the chemical industry, urging the federal government to reevaluate proposed restrictions. The Georgia General Assembly emphasizes the importance of the chemical industry, noting it plays a vital role in economic development, supports over 20,000 jobs in Georgia, and contributes significantly to the U.S. economy, amounting to over $600 billion. This resolution is framed within the context of recent regulatory actions proposed by the Biden administration which are believed to hinder the industry's ability to innovate and thrive within a competitive landscape.
Contention
Notable points of contention arise from the assertion that these proposed restrictions contradict existing federal policies aimed at promoting innovation and enhancing infrastructure. The assembly's call for a reevaluation of these regulations is based on the belief that responsible regulation should prioritize scientific evidence, promote industry growth, and ensure supply chain resilience. The resolution further urges the federal government to support frameworks that facilitate innovation in the chemical industry, reflecting a protective stance towards this significant sector of the economy.
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