Andy Biggs: “I appreciate my friend, the Agriculture Committee chairman, and his opposition, but I must respectfully disagree. The…”

“I appreciate my friend, the Agriculture Committee chairman, and his opposition, but I must respectfully disagree. The proposed funding level for the Commodity Futures Trading Commission is a nearly 30 percent increase over the fiscal year 2019 levels. The CFTC is following in the footsteps of the SEC under the Biden administration with efforts to mandate, without statutory authority, an onerous climate disclosure regime on the private sector. Last year, the CFTC solicited comments on climate-related financial risk. Conservative attorneys general, led by West Virginia Attorney General Patrick Morrisey, forcefully pushed back, stating that attempts to mandate disclosure through rulemaking or through another regulatory framework would clearly implicate the major questions doctrine, raised First Amendment concerns related to compelled speech, and stated that courts would find climate-related action to be arbitrary and capricious. {time} 2310 Other reporting suggests that the CFTC is aggressively pursuing enforcement action and hefty fines over minor technical reporting requirements. That is typical of the bureaucratic regime established under the Biden administration. Adoption of my amendment would ensure that the CFTC is properly utilizing its resources to fulfill its mission of fostering open, competitive, and financially sound futures and option markets, not becoming the Biden administration's ESG enforcer. Mr.…”