Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 5883, the Clarification of Treatment of Electronic Sales of Livestock Act of 2016. The bill before us today makes simple, targeted reforms to an outdated statute in order to make it compatible with new practices that have come about because of advances in technology. The Packers and Stockyards Act was enacted to protect buyers and sellers of livestock from unfair, deceptive, and discriminatory practices. However, the statute has not undergone a thorough revision since being enacted in 1921, resulting in various outdated requirements. To account for the current practices that businesses use to buy and sell livestock, H.R. 5883 makes clarifying modifications, ensuring that the protections of the Packers and Stockyards Act apply to those who buy and sell livestock online on a commission or other fee basis. The Packers and Stockyards Act of 1921 references only two forms of payment methods acceptable under the act's prompt payment requirements--checks and wire transfers. To update this provision, the bill adds electronic transfer of funds to the list of acceptable methods of payment and gives the Secretary the flexibility to approve other new methods of payment as deemed appropriate. These commonsense changes are supported by the vast majority of the livestock community--in fact, we know of no opposition--and were unanimously supported by my colleagues on the House Agriculture Committee.…”