AFPM opposes the Inflation Reduction Act as written. We evaluated the bill against our core principles, specifically whether the legislation would support strong U.S. refining and petrochemical industries and whether it pursued emissions reductions in a market-based and cost-effective manner. Unfortunately, the IRA falls short of these goals.
I remember a few years ago when we were discussing a new regulatory approach being proposed in Europe that would put more of the burden of ensuring chemical safety on industry. It was touted by...