One of the of the first regulatory controversies I was involved in when I started working on environmental issues in 1990 was the formaldehyde risk assessment. The controversy continues to this day with an impatient EPA trying to ram through a rigged risk assessment. That alone should tell what you need to know about any junk science-fueled alarm over formaldehyde — a much-studied and well-understood chemical. Here is a fact sheet on the EPA formaldehyde railroad prepared by the American Chemistry Council. Also check out the related letter from ACC, and this letter from Ohio Congressman Mike Carey to the rogue EPA.