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.
Congress Overrides Presidential Farm Bill Veto, 14 of 15 Farm Bill Titles Enacted Into Law
WASHINGTON – House Agriculture Committee Chairman Collin Peterson of Minnesota and Ranking Member Bob Goodlatte of Virginia issued the following statement today:
“Following veto override votes of 316-108 in the House and 82-13 in the Senate, the Food, Conservation and Energy Act of 2008 has been enacted into law, with the exception of the bill’s trade title.
“The trade title was included in the conference report passed by Congress but was inadvertently left out of the official copy of the farm bill that the President vetoed. Today, the House also took action to correct the clerical error that resulted in the unintentional omission of the trade title from the enrolled farm bill and ensure that the entire farm bill is enacted into law swiftly. Most of the farm bill is now law and the Administration can begin implementing the new programs and policies immediately.
“The Food, Conservation and Energy Act makes historic new investments in food, farm and conservation programs that are priorities for all Americans, which is why a broad, bipartisan coalition voted overwhelmingly to pass this bill.
“While no one got everything they wanted in this Farm Bill, we struck a balance that meets the pressing needs of working American families struggling with high food prices and that supports America’s farmers and ranchers as they continue to provide a safe, abundant, homegrown supply of food and fiber while protecting our natural resources and developing new sources of renewable energy.”