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.
H.R. 1947, Federal Agriculture Reform and Risk Management Act of 2013
FARRM is a bipartisan bill that cuts spending, reduces the size of government, and makes common-sense reforms to policy. It is the product of a multi-year process that included auditing for effectiveness and efficiency every single policy under the jurisdiction of the House Agriculture Committee.
Chairman Frank Lucas and Ranking Member Collin Peterson
Introduced in the U.S. House of Representatives on May 13, 2013
Ordered reported by a recorded vote of 36 yeas to 10 nays in the House Agriculture Committee on May 15, 2013
Failed on passage in the House by a vote of 195 - 234 on June 20, 2013