There are some people that are strongly opposed to GMOs and want food labeled so they can avoid it. They also hope to get others to avoid the food, hence the "Produced With Genetic Engineering" wording requirement.
Personally, I think the concerns here are questionable as we've been modifying foods since Gregor Mendel in 1822 and pretty much all food today is to some degree modified. On the flip side, like the organic labeling, it's providing information of interest to a significant segment of consumers.
To a certain degree this is irrelevant because this will probably become a national requirement in the next 10 years (like organic is now). It is required through most of Europe where the impact has been minimal.
Jimmy Kimmel does a hilarious job interviewing people opposed to GMOs.
If you want the labeling, then vote yes. If you're worried about the impact on the farming industry, vote no. Otherwise, the vote has zero impact on you so you need to weight the desires of those who want to know what is in the food they purchase vs. the concerns of the farmers.
I'm not sure how I will vote. I think the concerns are way overblown. On the flip side, I do support full labeling of food and the agriculture industry also predicted all kinds of problems when the contents labeling was first required (there was no impact).
The arguments against are that it will be costly to implement with lots of "red tape" and "inconsistent requirements." Bullshit. What has the farming industry concerned is that the label will cause people to not buy GMO food. It's a valid legitimate concern, especially as there's no documented downside to GMO foods.
The argument for this is that GMO foods have not been tested and therefore might be dangerous. That's true, they might. On the flip side nothing has been found to date.
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