Chairman Frank Lucas of Oklahoma and Ranking Member Collin Peterson of Minnesota issued the following statements after the House Agriculture Committee approved H.R. 1947, the Federal Agriculture Reform and Risk Management (FARRM) Act of 2013, by a large, bipartisan vote of 36-10.
Lucas Praises House Passage of Jobs Bills
Tamara Hinton, 202.225.0184
WASHINGTON – Chairman Frank Lucas of Oklahoma issued the following statement after the U.S. House of Representatives passed H.R. 2682, the Business Mitigation and Price Stabilization Act and H.R. 2779, in a bipartisan vote, 370-24 and 357-36, respectively.
"These are common sense bills that ensure the very businesses we're relying on to add jobs to the economy are not needlessly subject to new regulations that harm job-creating efforts. H.R. 2682 recognizes that end-users use swaps to hedge against risk and they should be able to continue that practice without costly margin requirements. H.R. 2779 acknowledges that affiliate swaps do not pose systemic risk, and provides a clear exemption from redundant regulatory requirements. Combined these two bills represent sound policy to encourage job creation and economic growth," said Chairman Frank D. Lucas.