June 13, 2016

U.S. House Votes To Delay Costly EPA Ozone Rule

Last week the U.S. House of Representatives voted 234-177 to approve H.R. 4775, the Ozone Standards Implementation Act of 2016, which would delay implementation of the U.S. Environmental Protection Agency’s (EPA) new ozone regulation. 

Specifically, H.R. 4775 would give all parties affected by the rule, which include businesses and state and local governments, more time to comply with it before penalties kick in. The bill also would streamline the air permitting process and institute other reforms to federal air quality standards that would balance environmental stewardship with economic and employment growth. This regulation, which may eventually be the costliest in U.S. history, will be difficult if not impossible to implement. It is unclear when, or if, the U.S. Senate will vote on H.R. 4775. 

The White House has threatened to veto the bill. Click here to read more about the EPA’s final ozone rule. 

As a reminder, trade associations, including those supported by MSCI, and more than 200 lawmakers have written in support of a lawsuit that seeks to overturn the rule.