CFA Letter Urging U.S. House to Support DeLauro-Waters-Himes Amendment to Agriculture Appropriations
This week the House is expected to consider the Agriculture Appropriations bill (H.R. 4800) that dangerously underfunds the Commodity Futures Trading Commission (CFTC). The bill not only funds the agency at a level $62 million (or 22 percent) below President Obama’s budget request, it also imposes spending restrictions that require the agency to devote almost a quarter of its budget to information technology (IT) improvements. Such a severe spending restriction will inevitably result in forced cuts to other vital CFTC responsibilities. Reps. DeLauro, Waters, and Himes have introduced an amendment to the bill, which would reduce the amount of restricted funds to current levels. This would provide the agency with much needed flexibility to deploy its resources in a manner that best fulfills its mission.
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