Today I participated as witness at a hearing on the impact of the Clean Air Act Amendments of 1990 (CAAA) before the Senate Subcommittee on Clean Energy and Nuclear Safety and Subcommittee on Children’s Health and Environmental Responsibility. Given the continued weakness of the U.S. economy, stubbornly high unemployment rate and sluggish investment spending, I urged lawmakers to closely examine the economic and health benefits from regulatory policies like the CAAA and determine if the cost benefits are based on sound economic modeling. More specifically I zeroed in on the EPA’s much touted claim that CAAA provides $2 trillion in economic value and noted that the figure was not based on sound economic modeling and stands in stark contrast to EPA’s own economic simulations which show substantial losses of GDP under CAAA regulations as demonstrated here:
You can read the press release from today’s hearing here.
And read my full testimony here.
You can also watch today’s hearing here: