Political Quotes

“I am pleased to see the inclusion of H.R. 634, the Business Risk Mitigation and Price Stability Act, as Title III of the Terrorism Risk Insurance Program Reauthorization Act. This language, which was also included in H.R. 4413, the Customer Protection and End-User Relief Act, provides an important protection to end-users from costly margining requirements that will divert need capital away from job creation. I support of this title, I would like to request that the pertinent portions of the Committee on Agriculture report to accompany H.R. 4413 be included in the appropriate place in the Congressional Record. Title 3--End-User Relief SUBTITLE A--END-USER EXEMPTION FROM MARGIN REQUIREMENTS Section 311--End-user margin requirements Section 311 amends Section 4s(e) of the Commodity Exchange Act (CEA) as added by Section 731 of the Dodd-Frank Act to provide an explicit exemption from margin requirements for swap transactions involving end-users that qualify for the clearing exception under 2(h)(7)(A). ``End-users'' are thousands of companies across the United States who utilize derivatives to hedge risks associated with their day-to-day operations, such as fluctuations in the prices of raw materials.…”