Today, the House Agriculture Committee held a hearing to assess the progress of global derivatives reforms since the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law five years ago. Dodd-Frank imposed sweeping new regulations over the financial industry, including the regulation of swaps under Title VII, which had previously not been regulated in the U.S.
Committee Approves Three Bills for Floor Consideration
WASHINGTON - Today, the House Agriculture Committee approved three measures regarding farm-based renewable energy, eminent domain, and hunger relief efforts. H. Con. Res 25, H.R. 926, and H. Res. 79 were all passed by voice vote and were ordered to be reported favorably to the House floor. A brief summary of each measure is included below. To view the approved bill text and section by section breakdown of each bill.
H. Con. Res. 25, also known as 25x’25, is a resolution that recognizes the importance of agriculture in meeting the nation’s energy needs. It expresses the sense of Congress that by the year 2025, America’s agricultural, forestry, and working lands should provide at least 25 percent of the total energy consumed in the United States through renewable sources while continuing to produce safe, abundant, and affordable food, feed, and fiber. House Agriculture Committee Chairman Collin C. Peterson (D-MN) introduced the 25x’25 resolution in January and it now has the support of 62 bipartisan cosponsors. This resolution was also reported favorably by the House Agriculture Committee by voice vote in the 109th Congress.
H.R. 926, introduced by House Agriculture Committee Members Stephanie Herseth Sandlin (D-SD), and Bob Goodlatte (R-VA) would prohibit the provision of Federal economic development assistance for any State or locality that uses the power of eminent domain to obtain property for private commercial development. The bill would also prohibit such assistance to entities that fail to pay relocation costs to persons displaced by use of the power of eminent domain for economic development purposes. The House Agriculture Committee passed a similar bill in the 109th Congress.
H. Res. 79 would recognize the establishment of Hunters for the Hungry programs across the United States and the contributions of those programs’ efforts to decrease hunger and help feed those in need.