It's a fine idea until Monsanto, et al., find a way to subvert the standards and bend them into an anticompetitive regulatory mote via government lobbying.
What we really need, as Step Zero in any plan for wholescale reformation of American society, is to reimpose and reinforce campaign finance restrictions and sever the direct financial ties between our big corporations and the politicians who serve them.
Some readers may choose to see this as a line item on the progressive wish list. I see it as a necessary precondition to any attempted societal change whatsoever. Right now, the very heart of our issue is that the government no longer serves the people of this country; it serves moneyed interests, nakedly and shamelessly.
Obligatory Star Trek reference: America has become Ferenginar. We think we're the Federation, but we're headed down the wrong path for that. We are effectively an oligarchy at this point, heading in the direction of totally dysfunctional kleptocracy. The "us vs them" mindset tearing us all apart right now is a symptom of political polarization, which the lobbyists would consider to be a feature and not a bug. Until our voices matter to politicians more than David and Charles Koch's billions, we're fucked. Nothing will change, and anything we try to change will be immediately corrupted and turned against us. The fox bought the whole damned henhouse.