Federal Government regulating the bike industry

I just got this email from a fellow bike rider:

article regards to BMX (24″ and under wheel diameter bikes).
Its regards to these "toys" having to comply by the Consumer Product Safety improvement Act (CPSIA) by 2009.

In short here's a summary,

As of Nov. 12, nothing shipped after that date can enter the US without proper 3rd party testing for lead, lead content, and phthalates and the certified documents needed to get through customs at port. This includes complete bikes, frames, and all parts with intended us for any bike 24″ and under. The fees for testing are expensive unless you're testing a large volume of parts or bikes and can ammortorize those costs across the board. If you offer a part or bike in different color options, each color must legally be tested. Testing would have to be conducted each time you import product from now on, regardless if it's the exact same product you imported 2 months earlier.

All untested products can be sold to consumers (end-users) until Feb. 9th.
On Feb. 10th it becomes illegal for shops or distributors to sell these products without the proper certificate. The fines for this and for trying to import goods into the US without the certificates is in the hundred of thousands.

Companies that haven't tested and received the proper certificates legally have to take any untested product back and refund monies to the dealers or distributors as it is illegal for them to be sold after Feb. 9. This is why Feb 10 is being called National Bankruptcy Day because they have to take back ALL untested product from retailers and distributors and supply refunds even if that product is 10 years old. If the retailer is caught trying to sell untested goods, the shop will be fined by the CPSC, fines in the hundred of thousands. Which obviously the shop will then turn around and sue the manufacturer for failure to test and likely the company is already been fined as well. You can see how it can get ugly real fast if you don't have the proper test certificates.

And the same testing will soon be required for bikes and bike parts made in the US as well.

Alot of small companies, will be affected by this and would most likely fold. Kuwahara has already closed up due to these new laws

And I would presume this would be the downfall of the BMX industry
Kids will probably switch over to bigger bikes (26″ park bikes or fixies) or unicycles (like below)

forum topic link:
http://www.vintagebmx.com/community/index.php?showtopic=2702...

Great opportunity to inform people about Dr. Paul's message.