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.
Agriculture Committee Adopts Budget Views and Estimates 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 2014. The letter will be submitted to House Budget Committee Chairman Paul Ryan as required by section 301(d) of the Congressional Budget Act of 1974, as well as House Rule X, clause 4(f).
In the letter, Chairman Frank Lucas and Ranking Member Collin Peterson write:
"[T]he Committee on Agriculture is dedicated to ensuring that the federal government continues to promote policies and risk management tools that will keep American agriculture and rural communities strong and our citizens healthy and safe. We also know that this country continues to face a fiscal crisis that, if not addressed, will not only harm the agricultural sector and rural America, but the country as a whole. The agriculture sector wants to be a part of the solution to our nation's debt crisis....
"Recognizing the dire fiscal situation this country is in, we developed a bipartisan farm bill last summer that would have contributed substantially to deficit reduction while simultaneously reforming policies and providing risk management tools for the nation's agricultural producers. The committee looks forward to continued hearings and input from Members to achieve the most fiscally responsible farm bill."
A copy of the letter can be viewed here.