Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
Peterson Announces Short Term Plan to Continue Farm Bill Programs Measure Will Preserve Funding Available to Write Farm Bill in 2008
WASHINGTON - House Agriculture Committee Chairman Collin Peterson today announced plans to include language to continue certain Farm Bill programs on a short-term basis in legislation that Congress is expected to pass before the end of this year.
“This provision will protect the budget we have for the Farm Bill that Congress is currently writing,” Chairman Peterson said. “We have seen promising movement in the Senate, and I am confident that we can finish work on the Farm Bill early next year. This interim step to continue programs through mid-March will ensure that we have the time and resources we need to get the job done.”
The language will provide short-term continuing authority through March 15, 2008 for most programs in the 2002 Farm Bill in order to avoid budgetary changes before the new bill can be completed. It will not extend the 2002 commodity support programs to the 2008 crop year. Program provisions for the 2008 crop will be included in the new Farm Bill.