Today, the House Agriculture Committee held a hearing to assess the progress of global derivatives reforms since the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law five years ago. Dodd-Frank imposed sweeping new regulations over the financial industry, including the regulation of swaps under Title VII, which had previously not been regulated in the U.S.
Subcommittee Examines Issues Facing Beef Industry
Tamara Hinton, 202.225.0184
WASHINGTON – Today, Rep. Thomas Rooney (R-FL), Chairman of the House Agriculture Committee's Subcommittee on Livestock, Dairy, and Poultry held a public hearing to review the state of the beef industry.
Members of the Subcommittee heard testimony from a cow-calf producer, an owner of a feeding business, and a beef packer. In addition to educating Members about the structure and economic conditions of the beef sector, witnesses also highlighted a range of issues impacting the beef industry such as environmental policies, feed availability, input prices, trade, and the proposed Grain Inspection, Packers and Stockyards Administration (GIPSA) rule.
"Today’s hearing gave us a clearer picture of the economic situation and public policy challenges that the beef industry is facing. The lessons we learned from the witnesses will help lay the foundation for our Subcommittee work throughout this Congress. I appreciate Jim Strickland, who is a livestock producer in my home state of Florida, for coming to Washington to discuss the impact of federal laws and regulation on his business. Many regulations, regardless of how well-intentioned they are, have unintended consequences that hurt many for the benefit of a few,” said Chairman Thomas Rooney.
"I welcome the opportunity to hear directly from ranchers, packers, and others in our beef industry about the challenges they are facing. The Livestock, Dairy and Poultry Subcommittee has a responsibility to promote policies that will keep the industry alive and thriving. A healthy beef industry not only puts affordable food on our tables, it provides good jobs for our workers and strengthens national security by making us less dependent on other countries for our food supply," said Ranking Member Dennis Cardoza.
Written testimony provided by the witnesses is available below and can be found on the Committee's website by clicking here.
Mr. Jim Strickland, Owner, Strickland Ranch, Myakka City, Florida
Ms. Anne Burkholder, Owner, Will Feed, Inc., Cozad, Nebraska
Mr. Ken Bull, Vice President for Cattle Procurement, Cargill, Wichita, Kansas