When I became Chairman of the House Agriculture Committee in January of this year, I had one primary goal: to ensure that America’s farmers and ranchers have the policies in place that they need to feed, fuel, and clothe the nation while ensuring stability and consistency for farmers, ranchers, consumers, markets, and rural communities. After all, agriculture is the foundation of our livelihood and the lifeblood of rural America. And, while our work will never be done, we are off to a great start.
Lucas Disappointed in CFTC Nominee’s Comments
Tamara Hinton (202) 225-0184
WASHINGTON – Today, Ranking Republican Frank Lucas expressed disappointment in the response of Gary Gensler, President Barack Obama’s nominee to chair the Commodity Futures Trading Commission, to questions posed during the confirmation process. Specifically, Mr. Lucas is concerned about Mr. Gensler’s views on merging the Commodity Futures Trading Commission with the U.S. Securities and Exchange Commission. Mr. Gensler stated in a letter to Senator Carl Levin “a merger makes sense only if it enhances our ability to carry out the important tasks with which the CFTC is entrusted. Thus, I would not consider a merger simply for merger’s sake.”
“I’m disappointed that Mr. Gensler did not recognize the accomplishments of the agency he is seeking to lead. In our hearings over the past two years, the Agriculture Committee has discovered that the CFTC has performed better than other agencies in protecting both its investors and the integrity of the marketplace. The CFTC has the best track record in protecting its customers’ money out of all the financial regulators. It is unfortunate that Mr. Gensler didn’t take the opportunity to highlight these facts,” said Ranking Member Frank Lucas.