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.
Lucas: American agriculture takes another hit
Tamara Hinton (202) 225-0184
WASHINGTON – Today, Ranking Member Frank Lucas issued the following statement after he voted against H.R. 2868, the Chemical and Drinking Water Security Act of 2009. The U.S. House of Representatives passed the measure, 230-193.
"This vote was another hit to agriculture and to the American consumer. Under this legislation, it's going to be significantly more expensive for agricultural input producers to provide farmers with the necessary tools for agriculture production. Without inputs like fertilizers and pesticides, it will be difficult for farmers to produce the same amount of product at the same high quality we have come to expect. Ultimately, this means our food costs will dramatically increase, or we will become reliant on foreign food imports," said Ranking Member Frank D. Lucas.