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.
Committee Adopts Budget Letter
WASHINGTON, D.C. – Today the House Committee on Agriculture adopted the budget views and estimates letter which outlines the Committee’s budget recommendations for the agencies and programs under the its jurisdiction. The letter will be submitted to Budget Committee Chairman Jim Nussle pursuant to section 301(d) of the Congressional Budget Act of 1974 and House Rule X, clause 4(f).
The Committee recommends that any substantive budget changes be considered only when the farm bill is up for reauthorization in 2007. “Rest assured that this Committee will have a full, fair, open and comprehensive farm bill debate in 2007 with participation by all stakeholders. We want to ensure that our programs deliver appropriate benefits and do so as effectively and efficiently as possible. We understand current budget concerns and are prepared to do our part—in concert with other committees—to address these concerns. We are not afraid of consolidation and change if such actions are needed. If we are to meet these challenges, however, we must have the time do it right without rushing to make premature changes just before a new farm bill,” Chairman Bob Goodlatte and Ranking Minority Member Collin Peterson said in the letter.
A copy of the budget and estimates letters is attached. Additional views may be submitted by Members of the Committee and the letter will be filed on Tuesday, February 21, 2006.
CLICK HERE to view the Budget Views and Estimates Letter Adopted by Committee