Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
Lucas Debates Cap & Trade Bill on House Floor
Tamara Hinton (202) 225-0184
WASHINGTON – "The Waxman-Markey bill promises to destroy our standard of living and quality of life with high er energy costs, higher food prices, and lost jobs. This bill is the single, largest economic threat to our farmers and ranchers in decades.
"We have more than 115 agriculture and food groups publicly opposing this bill still today. Do you know why? The greatest threat to our agricultural producers is ignored. Under H.R. 2454, input costs will escalate as a direct result of this energy tax.
"Meanwhile, the markets for their crops will shrink because foreign competitors, whose governments will not place these burdens on their farmers, will be able to undersell them," said Ranking Member Frank Lucas.
The complete video of Rep. Lucas' speech is below.