Rep. Frank Lucas, Chairman of the House Agriculture Committee, today issued a statement in response to the Commodity Futures Trading Commission's (CFTC) surprise "advisory notice" to further regulate cross-border swaps.
The Ag Minute: News Headlines Say It All
Tamara Hinton (202) 225-0184
WASHINGTON – This week during The Ag Minute, Ranking Member Frank Lucas highlights recent newspaper reports that describe the negative impact of a cap and trade system on rural economies and small communities.
Click here to listen to The Ag Minute. The transcript is below.
"Recent newspaper headlines say it all when it comes to cap and trade legislation and its potential impact on small towns and rural communities.
"One headline reads: Climate bill aids authors' states.
"This news report reveals what many of us already knew.
"Midwestern consumers can expect their electricity rates to skyrocket. This is because the Waxman-Markey cap and trade bill would unfairly favor states like California and Massachusetts over Midwestern states because of the Midwest's heavy reliance on coal plants.
"It should come as no surprise that the authors of the bill, Rep. Waxman and Rep. Markey, represent California and Massachusetts respectively,
"Another headline reads: Cap and trade would slow the economy.
"This news report explains that a cap and trade system would lead to significant job losses in the U.S.
"And finally another headline reads: Economy trumps climate as concern.
"This report highlights a recent poll that revealed voters are more concerned about the economy and the rate of government spending than they are about climate change.
"62 percent polled said that economic growth should be given priority over concerns about climate change.
"My friends, now we need to convince Washington of what the American people already know. Now is not the time to place more burdens on hardworking Americans with a cap-and-trade system."
The Ag Minute is Ranking Member Lucas' weekly radio address that is released each Tuesday from the House Agriculture Committee Republicans.