Political Quotes

“I have an amendment at the desk. The CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Page 11, strike line 1 and all that follows through page 12, line 22, and insert the following: SEC. ___. SENSE OF THE CONGRESS. It is the sense of the Congress that the Commodity Futures Trading Commission is required by law to consider the costs and benefits when promulgating rules and issuing orders, and is held accountable to this requirement by our courts. Current law requires the Commission to conduct economic analyses pursuant to the Paperwork Reduction Act, the Congressional Review Act, and the Regulatory Flexibility Act, as other agencies do. Unlike any other financial regulator, the Commission is also bound by the Commodity Exchange Act to consider the protection of market participants and the public; the efficiency, competitiveness, and financial integrity of futures markets; price discovery; sound risk management practices; and other public interest considerations. Notably, the Federal courts hold the Commission accountable and vacate rulemaking that does not meet statutory requirements, as demonstrated by the ruling by a United States district court on the Commission's rule on commodity position limits. The CHAIR. Pursuant to House Resolution 629, the gentlewoman from Wisconsin (Ms. Moore) and a Member opposed each will control 5 minutes. The Chair recognizes the gentlewoman from Wisconsin.”