Markets and Finance

Washington, D.C.— Today, House Agriculture Committee Chairman K. Michael Conaway (TX-11) and Livestock and Foreign Agriculture Subcommittee Chairman David Rouzer (NC-07) issued the following comments in response to the Trump administration's decision to withdraw a controversial Grain Inspection, Packers and Stockyard Administration (GIPSA) interim final rule and take no further action on a complementary proposed rule released in the final days of the Obama administration: “After nearly a decade ... Read more

Washington, D.C.—Today, the House Agriculture Committee held a hearing examining the agenda for the Commodity Futures Trading Commission (CFTC) under the leadership of newly confirmed Chairman Christopher Giancarlo. Following the hearing, Agriculture Committee Chairman K. Michael Conaway (TX-11) issued the below remarks: “In his short time as chairman, Chris has already shown a dedication to modernizing and improving the management of the CFTC. My colleagues and I have long advocated for a revie... Read more

Remarks as prepared for delivery: Good morning. I would like to thank Chairman Giancarlo for being here today to highlight his plans for the CFTC. I first want to congratulate him on his nomination and confirmation. I count Chris as a friend; I have enjoyed his counsel and the opportunity to work with him the past three years. He is going to make a fine Chairman of the CFTC and I have all the confidence in him. I would also like to thank our colleagues in the Senate for their quick action in co... Read more

Washington, D.C. – House Agriculture Committee Chairman K. Michael Conaway (TX-11) today issued the following statement after the Senate Agriculture Committee held a hearing on three nominations for commissioners to the U.S. Commodity Futures Trading Commission (CFTC): “I applaud the White House for its quality nominations to the CFTC and thank the Senate Agriculture Committee for their swift consideration. As we look to protect the public and ensure the integrity of our futures and swaps market... Read more

Washington, D.C. – Today, the House Agriculture Committee held a hearing examining the regulation of derivative clearinghouses and how cleared markets may respond to a future financial crisis. Chairman K. Michael Conaway (TX-11) made the following remarks after the hearing: “Clearinghouses are essential to financial markets. As the committee continues its oversight of these institutions, it is essential to understand their role in the well-being of our financial markets, and the new risks a fina... Read more

Remarks as prepared for delivery: Good morning. Thank you for being here today. Today’s hearing builds on the important work done by the CEEC subcommittee last year, under the helm of Chairman Austin Scott and Ranking Member David Scott. I want to thank them for their work examining how well our regulators responded to the financial crisis. While those hearings were focused on past performance, today’s hearing examines the possibility for a future financial crisis and how our cleared markets may... Read more

Washington, D.C. – Today, House Agriculture Committee Chairman K. Michael Conaway (TX-11) welcomed newly-confirmed U.S. Department of Agriculture (USDA) Sec. Sonny Perdue to Capitol Hill to testify on the “State of the Rural Economy.” Following the hearing, Chairman Conaway made the below statement: “Against the backdrop of a four-year, 50-percent decline in net farm income, Sec. Perdue’s comments today rightly recognized the concern of America’s farmers and ranchers and the many challenges face... Read more

Today, the House Agriculture Committee held a hearing to examine how the tax code impacts agricultural producers. Members of the committee heard from a panel of Members of Congress—including Rep. Kristi Noem (SD-at large) and Rep. Lynn Jenkins (KS-2)—from the House Committee on Ways and Means, the committee charged with crafting our nation's tax code. The Committee also heard from a diverse panel of witnesses including agricultural and tax professionals. "Both the ranking member and I are CPAs, ... Read more

Remarks as prepared for delivery: Good morning, and welcome to today’s committee hearing to review the Farm Credit System. Today’s hearing is titled a Review of the Farm Credit System but the objective is twofold. First, we hope to educate ourselves and the public on the history and purpose of the Farm Credit System institutions that provide vital credit to rural America. Since its inception over 100 years ago, the Farm Credit System has never wavered in its mission of providing credit to our ru... Read more

Today the House Agriculture Committee held a hearing to review the Farm Credit System (FCS). Members of the committee heard from representatives of the Farm Credit Administration as well as representatives from institutions that provide credit. The hearing highlighted the century-long mission of FCS to provide credit to rural communities in both good times and bad, and it reviewed the overall health of the system. Congress established the FCS in the Federal Farm Loan Act of 1916 at a time when c... Read more