Between Regulation And Deregulation:Research On The Steel Industry Compliance Extension Act During The Reagan Administration

The Steel Industry Compliance Extension Act of 1981 was conceived in the late 1970 s.The stagflation and oil crisis during this time led to an economic crisis,and the steel sector had to pay expensive pollution control expenditure to comply with the requirements of the Clean Air Act.At the same time,as the steel industry has grown in Japan,Europe,and other regions,the United States has gradually fallen behind other economy entities in the global race for market share.In order to provide protectionism for the steel sector after President Reagan assumed office,he signed the Steel Industry Compliance Extension Act of 1981 as part of the macro strategy of deregulation.The Steel Industry Compliance Extension Act of1981 extended the Clean Air Act’s final compliance deadline for pollution control in the steel industry to December 31,1985 to allowed steel companies to use the capital saved from deregulation for modernization construction and made sure that the steel industry would produce more environmental benefits with more environmentally friendly production methods.However,by the end of 1985,the U.S.steel industry has yet to turn around,and the bill did not have the desired effect.The heavy industry,once the core of economic development,had to take a back seat to the high-tech industry represented by the information industry,which was increasingly becoming a pillar industry in the United States.Apart from the introduction,this thesis is divided into the following four chapters:The first chapter focuses on the analysis of the background of the enactment of the Steel Industry Compliance Extension Act of 1981.In the 1970s’ global market,Japan and the European Community produced nearly as much steel as the United States did.Moreover,developing nations like Brazil and South Korea had a stealthy rise in their steel sectors,putting the United States at risk.In the domestic setting,U.S.economy under the stagflation crisis and energy crisis continued to worsen,the environmental protection decade placed a significant financial strain on steel businesses,and the steel industry experienced a funding shortfall.President Reagan launched a deregulatory macro policy to address the stagflation problem by altering the Clean Air Act legislatively to postpone the steel industry’s compliance date and provide it a protectionist regulatory approach.The second chapter describes the pre-conception and introduction of the Steel Industry Compliance Extension Act of 1981.On September 11,1980,the Steel Tripartite Advisory Committee submitted President Carter its report on the steel sector,which recommended extending the deadline for the steel industry to meet the Clean Air Act’s air quality standards.Based on the steel problem and his own upcoming election,President Carter promised to sign and authorize a robust Clean Air Act.The Steel Industry Compliance Extension Act of 1981 emerged as one of the most crucial topics for discussion in the new Congress after President Reagan’s inauguration.The third chapter,which is based on the records of the House and Senate hearings,looks at the twists and turns that eventually resulted in the Steel Industry Compliance Extension Act of 1981 being passed after the House and Senate hearings’ wrestles and various interest groups’ consent.The fourth chapter explains the main ideas of the Steel Industry Compliance Extension Act of 1981,analyzes the Act’s actual influence,assesses its historical context and significance,and investigates the Act’s inherent integration of environmental and economic development,regulation and deregulation.This Act ultimately offers hints for economic growth in the post-industrial era in the United States.In brief,the Steel Industry Compliance Extension Act of 1981 was enacted at a time when the U.S.steel industry was confronting internal and foreign challenges.According to the perspective of amending the Clean Air Act,it provided a buffer time for steel companies and offered steel industry protection from world competition.Although the Steel Industry Compliance Extension Act of 1981’s final result is unsatisfactory,it embodies the internal coordination and unity between environmental protection and economic development,reflects the Reagan administration’s balance between regulation and deregulation,the balance between protectionism and liberalism,and offers reference experience for future generations to solve pertinent problems.