Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
Agriculture Committee Adopts Budget Letter
Tamara Hinton, 202.225.0184
WASHINGTON – Today, the House Agriculture Committee adopted the budget views and estimates letter which outlines the committee's budget recommendations for the agencies and programs under its jurisdiction for fiscal year 2012. The letter will be submitted to House Budget Committee Chairman Paul Ryan of Wisconsin as required by section 301(d) of the Congressional Budget Act of 1974, as well as House Rule X, clause 4(f).
"I view our current budget situation as an opportunity to make our agriculture policy even more efficient while allowing farmers and ranchers continued access to the risk management tools vital to producing the safest, most abundant, and most affordable food and fiber supply in the world. While streamlining our programs, we must be careful not to jeopardize the stability of the agricultural industry, which will play a key role in feeding an estimated 9 billion people by the year 2050," said Chairman Frank Lucas.
"The Agriculture Committee is prepared to make our fair contribution toward deficit reduction. We have already reduced commodity program spending over the course of several farm bills and crop insurance through the SRA process that was done in May. I don’t believe, however, that our Committee should bear a disproportionate share of the cuts. Everything should be on the table," said Ranking Member Collin Peterson.
A copy of the letter can be viewed here.