Obama halts controversial EPA regulation

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WASHINGTON (AP) -- President Barack Obama is directing his administration to withdraw a controversial proposed regulation updating government smog standards.

The withdrawal comes two days after the White House identified seven proposed regulations that would cost the economy at least $1 billion each. The proposed updated smog standard was estimated to cost anywhere between $19 billion and $90 billion, depending on how strict the standard would be.

In a statement, Obama says he made his decision in part because it is important to reduce regulatory burdens on businesses as the economy recovers. He says he is still committed to protecting public health and the environment.