We look forward to moving this issue, and handling Section VII of Dodd-Frank with good progress moving forward.

This has been a very interesting and very important hearing for us all.

We want to keep our eye on making sure the appropriations level is there for the CFTC.

I want to emphasize how pleased I am with the work that we have been able to accomplish so far as we examine the critical issues that affect our markets.

We value your input, we value your views, and we know that you will provide a critical foundation for the work that this Committee must undertake.

I am delighted today that we will hear from those who handle the infrastructure, those who have to deal with making sure we have a level playing field for both our end-users and our market participants.

Do you believe that we in the Congress are appropriating sufficient funds for you all to do the job that we are mandating you to do?

We will continue to look for a healthy balance between market access and market integrity, so that the markets meet the needs of those who use them to hedge.

My goal throughout this process is to ensure that we have a healthy balance between market integrity and market access.

We won't be repealing Dodd-Frank and we won't be working to weaken its market-wide protections of Title VII, but, we will be looking to see where our actions can clarify Congressional intent, minimize regulatory burdens, and most…

Last week, Chairman Conaway laid out three principles for guiding the Committee's work: derivatives markets exist to meet the needs of hedgers; regulatory requirements should be both minimized and justified; and regulations should provide…

I am honored that Chairman Conaway has asked me to serve the Committee this Congress by chairing our newest Subcommittee.

We need to be very careful as we deal with our foreign markets, our foreign competitors.

It has been another very good hearing, and it is a joy working with you.

I think it is a serious threat, and we can try to put the best practices and protocols in place...

I want to see if we are putting them at any risk.

One of my concerns is not only that this labeling stop at the state level but that you could actually see individual counties and municipalities trying to come up with their own labeling standards.

How would it impact our ability to provide affordable and nutritious food to the American families, and would it not raise the cost of food, thereby hurting low-income Americans more than anybody?