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.
Lucas Highlights New Farm Bill Study
Tamara Hinton, 202.225.0184
WASHINGTON – Chairman Frank Lucas of Oklahoma issued the following statement regarding the release of a new study conducted by the Agricultural and Food Policy Center (AFPC) concerning the economic impacts of the House and Senate Farm Bill proposals on representative U.S. crop farms.
"The House farm bill saves taxpayers $35 billion, with more than $14 billion in these savings achieved by reforming U.S. farm policy. What the AFPC study says is that the House managed to save taxpayers money and reduce the deficit while still providing a safety net that farmers can truly depend on in hard times. The biggest take-away from the study is the absolute importance of real price protection in a farm bill. When presented with the various choices, the study reveals that, wherever they farm and whatever they grow, farmers are better off under the risk management option that marries a strong crop insurance policy with a farm bill that focuses on providing real price protection against multiple year price declines. I hope producers and my colleagues in Congress will give a close look at the study’s findings."
Click here to read the full study.