Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
The Ag Minute: Democratic Leadership Hides Behind Failed Policies By Proposing More Spending
Tamara Hinton (202) 225-0184
WASHINGTON – This week during The Ag Minute, Ranking Member Frank Lucas discusses how the Democratic leadership is proposing to spend more money and create yet another federal program to do the job of other existing federal programs. This week the U.S. House of Representatives is expected to vote on H.R. 4785, the Rural Energy Savings Program Act, which would authorize $5 billion worth of new federal government energy efficient programs. The issue is that there are countless other home energy efficiency programs already in existence.
Click here to listen to The Ag Minute. The transcript is below.
"It seems the Democratic leadership in Congress can never pass up an opportunity to spend more of your hard-earned money even during a time when families across rural America are tightening up their own budgets.
"During a time of record spending, the Democrats in Congress want to create yet another federal program.
"This week the U.S. House of Representatives will vote on H.R. 4785, the Rural Energy Savings Program Act. The intended purpose of this $5 billion bill is to provide low interest rate loans for people to weatherize their homes with energy efficient upgrades.
"The problem is if this bill passes, Congress would be creating an entirely new program that is similar, if not identical, to countless other home energy efficiency programs that already exist.
"Additionally, this Democratic Congress passed nearly a trillion dollar stimulus package that was suppose to achieve the same goals. But, according to a recent press report, the stimulus weatherization program has been mismanaged and poorly implemented.
"Energy efficiency is an important step in an overall energy plan and I support reasonable, cost-effective energy efficiency measures, but this bill is a waste. I cannot support it.
"Further, it’s the Democratic leadership’s attempt to address high energy costs and increasing energy demand caused by their own failed polices."
The Ag Minute is Ranking Member Lucas's weekly radio address that is released each Tuesday from the House Agriculture Committee Republicans.