Today, the House Agriculture Committee held a hearing to assess the progress of global derivatives reforms since the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law five years ago. Dodd-Frank imposed sweeping new regulations over the financial industry, including the regulation of swaps under Title VII, which had previously not been regulated in the U.S.
The Ag Minute: Congress Must Stop the Regulatory Expansion of the EPA
Tamara Hinton (202) 225-0184
WASHINGTON – This week during The Ag Minute, Ranking Member Frank Lucas highlights the need to stop the regulatory expansion of the Environmental Protection Agency (EPA). Today, Rep. Lucas joined more than 80 of his colleagues in the House of Representatives and introduced a resolution of disapproval, which would block the EPA from regulating greenhouse gases under the Clean Air Act.
Click here to listen to The Ag Minute. The transcript is below.
"My colleagues and I have introduced a measure in the House of Representatives that would rein in the aggressive power-grab of the Environmental Protection Agency.
"In December, the EPA released an endangerment finding that stated that gases such as methane and carbon dioxide were a threat to public health and should be regulated under the Clean Air Act. Really this endangerment finding is just an underhanded way of imposing cap and tax regulations on the American people.
"With this finding, the Obama administration is essentially telling members of Congress – those who are elected to serve the American people – to either pass cap and tax legislation or the EPA will regulate.
"My friends, we know full-well that cap and tax legislation would destroy American agriculture. It would put us at a competitive disadvantage around the world and would impact rural America disproportionately. We also know that the EPA has never been a friend to our farmers and ranchers.
"Congress must stop the regulatory expansion of the EPA. This resolution that I co-sponsored would block the agency from imposing terrifying standards that would cripple American agriculture and stifle economic growth in this country."
The Ag Minute is Ranking Member Lucas' weekly radio address that is released each Tuesday from the House Agriculture Committee Republicans.