The Knesset Economics Committee approved on Monday for second and third reading a reform bill titled 'What's good for America is good for Israel', which would allow import, manufacturing, and marketing of a wide range of products under US regulatory standards.
The Knesset Economics Committee approved on Monday the 'What's good for America is good for Israel' reform bill, advancing it to second and third readings. The legislation proposes to allow the import, manufacture, and marketing of a broad range of products that comply with US regulatory standards, effectively deregulating the local market for those categories. The reform is expected to reduce prices and bureaucracy but has drawn criticism from local manufacturers concerned about competition. The bill still requires final Knesset approval before becoming law.
2 developments
- DevelopingKnesset approves deregulation reform opening market to US-certified products
- StrongCommunications Committee approves media reform bill for final Knesset votes
- DevelopingKnesset passes law regulating waste management, ending illegal waste burning
- DevelopingKnesset approves amendment requiring businesses to record phone transactions over NIS 750
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