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.
Ag Chairman Combest: House-passed farm bill is farmers' best option
December 14, 2001 – House Agriculture Committee Chairman Larry Combest (R-Texas) said Friday that with the still-unfinished Senate farm bill growing to nearly a thousand pages while the end of the year is growing near, the farmer's best option of seeing a finalized farm bill this year is to adopt the bi-partisan, broad-based "Farm Security Act" (H.R. 2646), passed by the House more than two months ago. Ag Chairman Combest noted the Senate has stopped voting on the farm bill until December 18, with the end of the year looming. The Senate's version is already 926 pages, compared with the 380-page House farm bill.
"We want to deliver a farm bill for America's farmers this year – that is why the House brought forward a balanced bipartisan farm bill on October 5, before the Senate got around to its version. Senate leaders now sound pessimistic on a final farm bill this year, while at the same time delaying votes until December 18. With time slipping away, the Senate should bring forward the House-passed Farm Security Act of 2001 as the only sure way for Congress to finalize a farm bill for the president to sign this year."
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