A new consumer safety bill is sitting on the President’s desk waiting to be signed this week. The Consumer Product Safety Improvement Act of 2008 (H.R. 4040) would create a near ban on lead in children's toys and equipment, and create several other consumer safety improvements.

The bill, which awaits President Bush's signature after being passed in the U.S. Senate and House with veto-proof margins, cuts the amount of lead allowed in toys and other products, increases financing for the Consumer Product Safety Commission (CPSC) and includes a partial ban on controversial plastic-softening chemicals called phthalates. It also would create a searchable database of consumer complaints about a product's safety.

Under the legislation the commission’s annual budget would rise to $118 million from $80 million starting in fiscal 2010 and grow to $136 million over five years, under the bill.

Other features of the bill include whistle-blower protections and third-party testing requirements for certain children’s products. It also gives the safety commission authority to inspect manufacturers’ proprietary labs and increase maximum criminal penalties for violations.

NSBA applauds Congress for its work on increasing consumer safety, but holds some reservation about what certain increased regulations could mean for U.S. based small-business manufacturers.

President Bush is expected to sign the legislation but not before noting a few reservations he has with the bill.