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Chicago Fed Letter, No. 89, January 1995
Complying with the Clean Air Act Amendments of 1990: A Progress Report
The passage of the Clean Air Act Amendments of 1990 (CAAA) has encouraged states to develop creative implementation plans in order to meet the ambient air quality standards that the act requires. In responding to this challenge, state regulators throughout the nation and particularly in the Midwest have developed a host of new programs designed to improve air quality while mitigating the economic costs of stricter compliance requirements. These programs range from marketbased trading of emission credits to more traditional regulatory programs of the command-and-control variety.
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