WASHINGTON, July 9, 2015 /PRNewswire-USNewswire/ -- A new report released today by the Center for Regulatory Solutions (CRS), a project of the Small Business Entrepreneurship Council (SBE Council), provides new economic data revealing the economic pain the Chicago region will suffer if President Obama allows the Environmental Protection Agency (EPA) to tighten the current ozone standard of 75 parts per billion (ppb) into the range of 65-70 ppb.
The report, "EPA's Proposed Ozone Regulation Puts Chicago Area Jobs at Risk" shows that six counties surrounding Chicago – Cook, DuPage, Kane, Lake, McHenry and Will – would be ground zero for the most onerous reduction obligations. These six counties are home to 65 percent of the state's population, 73 percent of the state's GDP and 70 percent of the state's employment. Under a National Ambient Air Quality Standard (NAAQS) of 65 ppb for ozone, five of the six counties would be in non-attainment, which would impose hefty financial burdens on the economy at large. As documented by the National Association of Manufacturers, dramatically tightening the ozone NAAQS will be the most expensive federal regulation in history, with an estimated cost of $140 billion a year.
"This report confirms the concerns raised by local leaders of both parties about the devastating economic impact President Obama's ozone regulation will have on the city of Chicago and the entire state," said Karen Kerrigan, President of SBE Council and CRS. "No wonder local officials and small business owners are raising the alarm about the impact of this rule.
"Let's keep in mind that by working collaboratively at the local level, significant improvements are being made. In fact, over the past thirty years, we have made significant progress cleaning up our air. But if federal bureaucrats in Washington get in the way and impose a costly regulation that will significantly undermine local efforts, then this progress may be lost. In 2011, President Obama appeared to heed the concerns of state and local leaders when he pulled back on tightening the ozone standard. We hope he will do so again."
To read more on the highlights of this report visit the Center for Regulatory Solutions.
SOURCE Center for Regulatory Solutions