Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies

Democratic Members

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  • Sam Farr (CA), Ranking Member
  • Rosa Delauro (CT)
  • Sanford Bishop (GA)
  • Marcy Kaptur (OH)
About the Subcommittee
News
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Farr Opening Statement at Full Committee Markup of the Agriculture Appropriations bill, FY2013

June 19, 2012

"Dodd-Frank expanded CFTC’s oversight 8-fold from the $37 trillion futures market to the over-the-counter swaps market -- a domestic market of over $300 trillion in notional value.  So just when the CFTC needs to scale up, they’re being slapped with deep cuts that strangle their ability to safeguard against another financial collapse."

Farr at Press Conference on GOP Proposal to Cut CFTC by 41%

June 8, 2012

"The 41% cut from the President's $308 million budget request for the CFTC is unconscionable. It's designed to cripple the CFTC."

Farr Opening Statement at Subcommittee Markup for Agriculture Appropriations bill, FY13

June 6, 2012

"The $25 million cut to the CFTC will have drastic effects on the American economy and will harm the American taxpayer. 4 years ago, our financial system failed. Over 8 million jobs evaporated. Millions lost their homes. Unregulated swaps played a critical role in the 2008 financial meltdown – for instance, the near-failure of AIG was triggered by its substantial swap business. Dodd-Frank got to the root of the problem by charging the CFTC with swap market oversight."