On the recordFebruary 11, 2011
Madam Speaker, I yield myself an additional 30 seconds. Many of the rules the CFTC has proposed would substantially increase the costs of hedging for commercial end-users, extending Wall Street regulation to Main Street companies. As we work to revive the economy and create new jobs, we simply cannot afford sweeping new regulations that are poorly vetted, that impose substantial costs that outweigh the benefit for our financial system and our economy, or that are crafted in the interest of speed rather than in sound policy. The Agriculture Committee has set forth an aggressive oversight plan that will shine a bright light on these regulations and show the real- world consequences of them. I hope the administration will work with us in our efforts. Our Nation's farmers, ranchers, and small businesses are all counting on us to do it. I reserve the balance of my time.
