Chairman Frank Lucas issued the following statement welcoming the news that the U.S. Department of Agriculture (USDA) will move forward with implementing the Actual Production History (APH) adjustment for 2015 spring-planted crops. This crop insurance provision in the Agricultural Act of 2014 allows yield adjustments when losses are widespread and beyond the control of producers.
Lucas: New Leadership at CFTC Must Focus on Consensus, Bring Certainty to the Marketplace
Tamara Hinton, 202.225.0184
WASHINGTON – Rep. Frank Lucas, Chairman of the House Agriculture Committee, issued the following statement after the U.S. Senate voted to confirm Timothy Massad as the Chairman of the Commodity Futures Trading Commission (CFTC) and Christopher Giancarlo and Sharon Bowen as CFTC Commissioners.
"I am pleased the CFTC will be operating at full strength once again. I am hopeful that Chairman Massad will lead by consensus, which will be better for America’s economy in the long run. Specifically, I am hopeful that he will reverse recent Commission actions that seem to ignore the concerns of our farmers and ranchers, as well as pursue commonsense reforms that will bring certainty to the marketplace for America's manufacturers, energy firms, and utilities.
"The House Agriculture Committee just passed a wide-ranging, bipartisan CFTC reauthorization bill that makes numerous reforms, including improving the operations of the agency, protecting futures customers, and reducing regulatory burdens on job creators. Chairman Massad can start there if he needs a blueprint for action," said Chairman Frank Lucas.