A bill to be voted on as soon as next week would offer new protections for pregnant women, children, workers and others vulnerable to the effects of chemicals such as formaldehyde and styrene used in homes and businesses every day.
If enacted into law, the bill would be the first significant update to the Toxic Substances Control Act since the law was adopted in 1976.
The bill, more than three years in the making, has won the backing of both industry officials and some of the Capitol's most liberal lawmakers, including Sens. Barbara Boxer of California and Edward Markey, D-Mass.
"This is a political Halley's Comet" that may not be seen again for many years, said Markey, a former opponent of the bill who signed onto it in recent weeks after changes were made to ensure that states that regulate chemicals closely can continue to do so.
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Markey called the bill "a special piece of legislation" that finally updates one of the major environmental laws approved during the 1970s.
The agreement announced today merges bills that the House and Senate passed last year.
The proposal also would allow states to work on regulations while federal rules are being developed, a process that can take years.