Portman Amendment Seeks To Mitigate Effects of EPA Regulations
The amendment, which is co-sponsored by Sens. Roy Blunt (R-MO), Tom Cotton (R-AK) and Orrin Hatch (R-UT), would create a reserve fund for legislation affecting states that determine the EPA regulations will increase electricity prices, decrease reliability or adversely affect the state’s economy.
The EPA’s CPP has drawn disapproval from some federal and state officials since its introduction, and several independent assessments have indicated potential economic downsides. According to a National Economic Research Associates Economic Consulting report, the CPP’s four building blocks could lead to $366 billion in compliance costs over the next 15 years and 43 states might face double-digit rises in their electric rates. In the wake of these concerns, lawmakers have been working to mitigate the plan’s effects.
“This commonsense amendment returns power to the states by ensuring they can make their own decisions when determining if a federal regulation will negatively impact their electricity prices and economy,” Portman, who serves on the Senate Budget and Finance committees, said.