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.
Hearing to Review the State of the Rural Economy
March 5, 2013 - The House Agriculture Committee held a public hearing to review the state of the rural economy with the U.S. Department of Agriculture Secretary (USDA) Tom Vilsack. In light of the March 1 effective date for the sequester, the primary topic of discussion was how USDA planned to implement the across-the-board spending cuts and what impact they would have on the agriculture sector. Members of the Committee asked the Secretary about his recent remarks that the sequester would cause meat inspector furloughs. Chairman Lucas also questioned if USDA, in preparation for the impact on food production and inspections, had made any requests to the House Appropriations Committee for flexibility or additional funds as it develops a Continuing Resolution for the remainder of FY2013.