The House Agriculture Committee began a series of hearings in advance of writing legislation to reauthorize the Commodity Futures Trading Commission (CFTC). The agency's statutory authorization expires at the end of the fiscal year.
The Ag Minute: New Senate Cap & Tax Bill Reminds Us to Stay Alert on This Issue
Tamara Hinton (202) 225-0184
WASHINGTON – This week during The Ag Minute, Ranking Member Frank Lucas highlights the importance of staying alert on the issue of cap and trade.
Click here to listen to The Ag Minute. The transcript is below.
"Health care reform and the war in Afghanistan are dominating the headlines these days. But, there is another issue that we should all continue to pay close attention to – and that is cap and tax.
"Recently, Senator Barbara Boxer from California and Senator John Kerry from Massachusetts unveiled the Senate version of the cap and tax bill.
"This legislation seems to be just as bad if not worse than the House version –the Waxman-Markey cap and tax bill.
"Both bills would significantly increase energy and other input costs for our farmers and ranchers, which will put our farmers and ranchers at a competitive disadvantage in international markets.
"Both bills will take millions of farmland acres out of production, which means there will be less food produced in the United States. And, ultimately means we will pay more for food.
"And, both bills provide few, if any, opportunities for our farmers to recover from the tremendous financial burden of a national cap and tax program.
"I voted against the Waxman-Markey bill in June. And, with this new Senate cap and tax bill, I remain convinced that the agriculture community must stay alert on this issue."
The Ag Minute is Ranking Member Lucas' weekly radio address that is released each Tuesday from the House Agriculture Committee Republicans. To listen to previous radio addresses click here.