The US Senate approved Thursday a bill that imposes stricter penalties for companies that manufacture or distribute risk posing products, after this year’s recalls of lead-tainted toys and other mainly China-made products.

The bill also imposes a ban on using phthalates, which are some chemicals used in children’s products. Last year many products manufactured by Mattel Inc, RC2 Corp and other toy companies were recalled due to containing a high lead level, Reuters reports.

“This bill is the most significant product safety reform measure in recent history,” said Rachel Weintraub, director of product safety at the Consumer Federation of America.

The bill would increase the budget, staff and enforcement clout of the Consumer Product Safety Commission (CPSC). The CPSC was established in the 1970s to regulate hazards in about 15,000 consumer products.

The bill voted 79-13 authorizes a phased $60-million increase in the funding for the agency, that is  budget of $142 million by 2015, the Los Angeles Times notes. It will provide a broader access to citizens to information about potentially dangerous products and it will also create a database where consumers could post their complaints regarding hazardous products.

In December the House of Representatives adopted a similar bill, but this one is tougher. Representatives of the Senate and of the House are due to meet to solve the differences before the bill is forwarded to President Bush.

The Senate bill was sponsored by Senator Mark Pryor, Democrat of Arkansas, who said it was “more comprehensive and provides for greater transparency and enforcement” than the House bill. By a vote of 57 to 39, the Senate rejected the House bill on Tuesday.

The White House criticized the Senate legislation, claiming that it does not serve the product safety system. The biggest objection is related to the database.

“These provisions threaten to burden American consumers and industry in unproductive ways, and may actually harm a well-functioning product safety system,” the administration statement said. The statement did not threaten a veto.