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I think that is a big problem for people coming into our country and being told to go directly to the port of entry instead of, of course, going outside of the port of entries because that messes up the numbers.
You stop the ports, and we have major economic problems in my area, not just for the Savannah area, not just for the coast, but the whole southeast United States.
We want to protect the right whale. The right whale is the state mammal of Georgia. We love the right whale. We want to protect it.
I am very worried about the speed restrictions that are imposed by NOAA's rule that would shut down all these thriving communities and kill our blue economy all up and down the coast.
I care deeply about the coast of Georgia. I care deeply about our economy.
The pressure that is on those harbor pilots, in the back of their mind they are going to be thinking about criminal prosecution.
Limiting a pilot's flexibility right at the time that they need it most is really unsafe.
In the proposed regulation, NOAA chose to very clearly state that there are potential criminal sanctions, including prison, to violate the speed limit.
But the big issue that we have yet to deal with, and we have to deal with, is making sure that we appropriate the proper funding so that you can do the job.
Well, thank you very much. And first I want to thank Chairman Behnam, our current CFTC Chairman, for his comments and insight earlier this morning.
If he estimates $120 million over 3 years, I think he has done his numbers.
Look, we have to put an amount in this bill. And now you have a chance to tell us what you think you need.
I would say that the market, although it is enormous, there are--the legislation consolidates a lot of this regulation into entities.
When you say appropriate, tell me, what would you say? How much?
It is very important that we make sure that we provide you with sufficient funding to do this very much needed job.
It is closer to a currency, and should be regulated by the CFTC, not the SEC.
And let me ask you, can you share with us, are there any benefits to this provisional framework that provide the Commission with authorities or information to which you cannot currently assess?
What will be the effect of providing no additional funding resources to the SEC and the CFTC to implement this proposal?