Rep. Frank Lucas, Chairman of the House Agriculture Committee, and Rep. Doug LaMalfa today issued statements after the Commodity Futures Trading Commission (CFTC) voted, 4-0, to exempt producers, utility companies, and other non-financial entities from being required to register as swap dealers when they enter into energy contracts with government-owned utilities.
The Ag Minute: H.R. 3010 Protects Job Creators from an Overzealous Regulatory Regime
Tamara Hinton, 202.225.0184
WASHINGTON – This week during The Ag Minute, guest host Rep. Steve King discusses H.R. 3010, the Regulatory Accountability Act, which the U.S. House of Representatives is slated to consider this week. The bill ensures that regulators do not impose unjustified costs on job creators during a time when the U.S. economy can least afford it. This bipartisan bill is part of House Republicans' ongoing effort to put in place policies that will encourage job creation.
Click here to listen to The Ag Minute. The transcript is below.
"Job creation is the key to economic recovery and small businesses are our nation’s main job creators. But a recent gallop poll indicates that one in three small business owners across the country are worried about going out of business.
"Why? Because of the time and cost required to comply with government regulations.
"This is a complaint I hear about a lot from my rural constituents back home in Iowa. And, this is why I am an original co-sponsor of H.R. 3010, the Regulatory Accountability Act. This bipartisan bill requires that agencies do a better job of determining what regulations are needed before implementing new rules. It also requires agencies to assess both the costs and benefits of regulations and possible alternatives.
"In the midst of a fragile economy, we should be looking for ways to improve economic opportunities for jobs creators, not saddling them with more regulations.
"H.R. 3010 ensures that regulators do their due diligence. It protects farmers, ranchers, and small businesses from an overzealous regulatory regime."
The Ag Minute is Chairman Lucas's weekly radio address that is released from the House Agriculture Committee.