Mike Conaway: “I thank Mr. Neugebauer for yielding. I rise today in support of H.R. 26, a bill to extend the expiration date of the…”

“I thank Mr. Neugebauer for yielding. I rise today in support of H.R. 26, a bill to extend the expiration date of the Terrorism Risk Insurance Act. I want to thank my good friend and vice chairman of the Agriculture Committee, Randy Neugebauer, for his work in shepherding this bill to the floor again. I would also like to thank him and Chairman Hensarling for fighting hard to include the Business Risk Mitigation and Price Stabilization Act as title III of today's bill. The House Committee on Agriculture, along with the Financial Services Committee, has made moving this legislation a priority. Despite the lengthy title, the Business Risk Mitigation and Price Stabilization Act is not a complicated bill. It fulfills the promise that this body made to our farmers, ranchers, and small businesses when Dodd-Frank was drafted and signed into law that end users would not be treated as financial firms. {time} 1245 Yet regulators have narrowly interpreted the exemptions in the black letter of the law, forcing some businesses to leave capital idle in margin accounts, rather than investing in new production and creating jobs. Forcing businesses to post margin not only ties up capital, but also makes it more expensive for firms to utilize the risk management tools that they need to protect their businesses from uncertainty. Today's bill clarifies in statute that Congress meant what it said when it exempted end users from margin and clearing requirements.…”