Commodity Exchanges, Energy, and Credit

Washington, D.C. – Today, the House Agriculture Committee held a hearing to review the upcoming agenda for the Commodity Futures Trading Commission. After the hearing, Chairman K. Michael Conaway (TX-11) made the following remarks: “It was clear in today’s hearing that just because the Dodd-Frank rules are written doesn’t mean regulators are done with their work. Chairman Giancarlo did a thorough job explaining how he’s trying to tackle an important review of the existing rules, and improve inte... Read more

Remarks as prepared for delivery: Good morning. I want to welcome you all to today’s hearing examining the upcoming agenda at the Commodity Futures Trading Commission. I’d like to start by welcoming back Chairman Giancarlo. Chris, it’s great to have you back here. The committee last met with you in October and at that time, you were working on a number of important initiatives at the commission, notably, LabCFTC and Project KISS. You also outlined a plan to begin refining the Title VII swaps rul... Read more

Washington, D.C. – Today, the House Agriculture Committee held a hearing to shed light on the promise of digital assets and the regulatory challenges facing this new asset class to ensure the promotion of strong markets for commodities of all types. Following the hearing, Chairman K. Michael Conaway (TX-11) issued the below remarks: “Digital assets hold immense promise as an emerging area of commerce, but as today’s hearing highlighted, identifying tokens as either a security or commodity remain... 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, Rep. Austin Scott (R-GA), Chairman of the House Agriculture Committee’s Subcommittee on Commodity Exchanges, Energy, and Credit, held a hearing to evaluate the effectiveness of farm bill authorized credit programs administered by the Farm Service Agency (FSA). This hearing is a continuation of the committee’s hearing series to set the stage for the next farm bill. Members of the committee heard from a panel of credit institution representatives who gave their perspectives on current credi... Read more

Remarks as prepared for delivery: Good afternoon, and welcome to today’s subcommittee hearing. Over the past several weeks, the Agriculture Committee has held a series of hearings in preparation for crafting the next farm bill. Through this, the Committee has examined the overall farm economy, reviewed the safety and soundness of the Farm Credit System, and heard from a broad constituency on nearly all aspects of the farm bill. These hearings have shown that producers nationwide have been experi... Read more

Today, Rep. Rodney Davis (IL-13), Chairman of the House Agriculture Committee’s Subcommittee on Biotechnology, Horticulture, and Research, held a hearing to evaluate the effectiveness of the 2014 Farm Bill programs aimed at benefiting specialty crop production. Members heard from a panel of witnesses who highlighted the various programs available for specialty crops ranging from promotion programs and crop insurance to trade assistance and extension services. This hearing is a continuation in th... Read more

Today, the House Agriculture Committee’s Subcommittee on Commodity Exchanges, Energy, and Credit held a hearing to review the rural development and energy programs in the 2014 Farm Bill. Members of the committee heard from a broad panel of witnesses who utilize rural development and renewable energy loan and grant programs, and who support rural development initiatives. “One of the most important commitments this committee makes to producers is to help provide the support and infrastructure nece... Read more

Remarks as prepared for delivery: Good morning everyone. Welcome to the Commodity Exchanges, Energy, and Credit subcommittee’s first hearing of the new Congress. Today’s hearing is part of an ongoing series where each subcommittee is holding at least two hearings to discuss the Farm Bill programs and issues under its respective jurisdiction. Before I begin, I’d like to thank Ranking Member Scott for again agreeing to serve with me in the leadership of this subcommittee. I am looking forward to w... Read more

Today, the House passed H.R. 238, the Commodity End-User Relief Act, by a vote of 239-182. H.R. 238 is a bipartisan bill to reauthorize the Commodity Futures Trading Commission (CFTC), make important regulatory reforms, and most importantly to make important statutory changes to protect end-users and give them access to the tools they need to manage their risks. This bill largely mirrors H.R. 2289 and H.R. 4413, bills to reauthorize the CFTC passed by the House in the 114th and 113th Congresses,... Read more