ARLINGTON, Va., Jan. 11, 2017 /PRNewswire-USNewswire/ -- Today, NACD President Eric R. Byer issued the following statement on the passage of H.R. 5, the Regulatory Accountability Act, in the U.S. House of Representatives. In December, NACD joined nearly 380 organizations in a letter of support to Speaker of the House Paul Ryan (R-WI) urging passage of this legislation, which would require regulatory agencies to choose the lowest cost rulemaking alternative when drafting new regulations.
"The business of chemistry plays a direct role in making life possible in the 21st century. Chemical distributors not only provide tens of thousands of good-paying jobs to hardworking Americans, but we also distribute products that collectively touch 96 percent of all commerce. With playing such an important role in the economy, NACD takes seriously our commitment to handling products safely and securely.
"Over the last decade, chemical distributors have experienced an unprecedented increase in regulations, many of which have no proven benefit and carry a direct and impactful cost on job creators. It is time we seek a more commonsense approach to making sure all chemical distributors handle their products responsibly but are given the opportunity to focus more of their time and resources on creating jobs and growing their businesses. NACD believes the Regulatory Accountability Act is the right approach to achieve that goal.
"We thank Rep. Goodlatte (R-VA) and House leadership for making regulatory reform a priority in the new Congress by passing this bill, and we urge the Senate to approve similar legislation so the business of chemistry can continue as an economic engine for growth in the 21st century."
NACD and its over 440 member companies are vital to the chemical supply chain providing products to over 750,000 end users. NACD members are leaders in health, safety, security, and environmental performance through implementation of Responsible Distribution, established in 1991 as a condition of membership and a third-party verified management practice. For more information, visit www.NACD.com.
Contact: Matthew McKinney
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SOURCE National Association of Chemical Distributors (NACD)