New FDA Rulings soon in effect
On April 29th, 2015, two new FDA regulations finally made it to the US Office of Management and Budget for the next stage of regulatory review and to assign a financial burden to the regulatory impact on industry and the economy.
- Food Labeling: Serving Sizes of Foods That Can Reasonably Be Consumed At One Eating Occasion; Dual-Column Labeling; Updating, Modifying, and Establishing Certain RACCs
Normally the process can take months, but with Presidential elections looming, insiders expect new regulations to be pushed through quickly.
According to FDA these rules are expected to have a “…one-time cost to industry of labeling, reformulation, and initial recordkeeping” of “$2.3 billion, with a small annual cost associated with recurring recordkeeping. The cumulative benefits over 20 years range, on average, from $21.1 billion to $31.4 billion, depending on the inflation scenario used.”