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: It's Time for President Obama to Listen to the American People
Tamara Hinton (202) 225-0184
WASHINGTON – This week during The Ag Minute, Ranking Member Frank Lucas highlights the need for President Obama to listen to the American people as he enters into the second year of his administration.
Click here to listen to The Ag Minute. The transcript is below.
"One year has passed since President Obama moved into the White House under the banner of ‘change we can believe in.'
There have been changes, for sure. But, none that have proven to make our country stronger. And, none that our farmers and ranchers living in the countryside can support.
In fact, this administration has been the most out-of-touch with agriculture in recent history.
One of President Obama's first moves in office was to try and undermine the 2008 farm bill and eliminate support payments to our farmers and ranchers.
Then there were the $787 billion stimulus package and government bailouts that we cannot afford, and of which have proven ineffective in stimulating the economy and creating jobs in rural America.
Then there is the ongoing effort to pass cap and trade legislation, which will only serve to raise the price of fuel, electricity, agriculture inputs, and food during a time when our country is already suffering from a recession.
My friends, as we enter into the second year of this administration, it's time for President Obama to listen to American families, who are opposed to reckless spending, a jobs-killing national energy tax, and government-run health care."
The Ag Minute is Ranking Member Lucas' weekly radio address that is released each Tuesday from the House Agriculture Committee Republicans.