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U.S. markets recover from steep losses
WASHINGTON, April 18 (UPI) -- U.S House of Representatives legislation proposing new fees for food, drug and cosmetic firms drew opposition Friday from a grocery association.
The draft legislation, by Rep. John Dingell,, D-Mich., would impose a $2,000 per facility fee on companies, USA Today reported.
Billed as a Food and Drug Administration "reform bill," the fee would give the FDA about $600 million a year, the report said.
A grocery group denounced the plan.
"We should not be taxing food companies at a time of record food prices," Scott Faber, vice president of the Grocery Manufacturers Association, told the newspaper.
Also proposed in the Food and Drug Administration Globalization Act of 2008 are requirements for pharmaceutical companies to list the origin of active ingredients, and for labels to specify that the FDA can order recalls
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