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.
President's Budget Maintains $73.5 Billion Farm Bill Commitment
Ag Chairman Combest notes USDA support for House funding approach
February 4, 2002 -- House Agriculture Committee Chairman Larry Combest (R-Texas) welcomed the President's strong commitment to full farm bill funding in the coming year's budget proposal released Monday. In particular, Ag Chairman Combest noted the President's Budget tracks the House-passed farm bill funding approach of consistent levels of support that will equal the ten-year, $73.5 billion increased commitment. The President's budget rejects front-loading funding in the first five years that would shortchange the remaining five-year farm bill commitment.
"President Bush has stood by his commitment to agriculture in his budget, and he makes clear that the next farm bill will not be shortchanged, front-loaded or mortgaged against the full ten years of funding. Farmers can be assured that both the House farm bill and the President's Budget call for consistent funding – whether that seed money comes in a ten-pound sack or two five-pound bags, it will be all there," said Combest. "It is my hope that the President's budget will expedite the new farm bill."
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