Rep. Frank Lucas, Chairman of the House Agriculture Committee, today issued a statement in response to the Commodity Futures Trading Commission's (CFTC) surprise "advisory notice" to further regulate cross-border swaps.
Lucas to Reid: Send H.R. 872 to Senate Floor for a Vote
Tamara Hinton, 202.225.0184
WASHINGTON – Chairman Frank Lucas issued the following statement after the U.S. Senate Committee on Agriculture, Nutrition, and Forestry approved H.R. 872, the Reducing Regulatory Burdens Act of 2011. Chairman Lucas urged Senate Majority Leader Harry Reid to bring the bill to the floor for swift Senate passage.
"I commend the Senate Agriculture Committee for advancing H.R. 872. I urge Majority Leader Reid to join this important, bipartisan effort and send the bill to the Senate floor for a vote. The cost of inaction is far-reaching and significant, and would be a crushing blow to an already struggling economy," said Chairman Frank D. Lucas.
On March 31, the U.S. House of Representatives passed the bill in a bipartisan vote, 292-130. The legislation eliminates a costly and duplicative permitting requirement for the application of pesticides. This misguided court order will be implemented on October 31. Without a legislative fix, the requirement would impose an economic burden to agricultural producers, foresters, public health agencies, the federal government, state agencies, and every day citizens.