The House Agriculture Committee approved legislation to reauthorize the Commodity Futures Trading Commission (CFTC) on Oct. 30.
House Agriculture Chairman Collin Peterson (D-MN) said the bill “sends a strong message to the Senate.
The people that look to our markets for integrity don’t care about political wins and losses.
They expect us to conduct the business of this committee.” Peterson said the CFTC expired in 2013 and although it has continued to function under appropriations bills, its reauthorization is long overdue.
National Cattlemen’s Beef Association applauded the committee’s approval.
“Our members are pleased to see that some of our original ideas are in the product today in the form of continued protection for end-users from regulatory burdens, enhancement of the agency’s regulatory tools, and establishing coordination between the Office of the Chief Economist and the commission to consider a cost-benefit analysis before its rulemakings,” said Darryl Blakey, NCBA Manager of Legislative Affairs and Market Regulatory.
