September 8, 2022
SOCMA and Member Companies Meet with OMB to Share Industry Perspective on Forthcoming TSCA Fees Rule
Yesterday, SOCMA staff and three member companies met with the White House Office of Management and Budget (OMB) to present the specialty chemical industry’s unique perspective on the soon to be released proposed TSCA Fees Rule. SOCMA and its members emphasized the importance of preventing higher fees, as any substantial increase is unjustified at a time when EPA routinely fails to meet the congressionally mandated deadlines.
Large increases in fees dissuade the submission of PMNs and LVEs, which can and will stifle innovation throughout the supply chain and impact the wider economy. A higher cost of bringing new chemicals to market may be passed on to downstream customers, ultimately leading to higher prices for consumers. Furthermore, increased fees may encourage manufacturers to move production overseas, leading to the loss of U.S. jobs, as well as pose a barrier for potential startups to enter the market.
SOCMA is working diligently to educate EPA on the negative impacts of increased fees on innovation and growth of both the chemical industry and the U.S. economy.
Solely dedicated to the specialty and fine chemical industry, SOCMA focuses on building commercial connections, supporting manufacturing and operations, and advocating for regulatory and legislative policies. www.socma.org