U.S. lawmakers meeting today to reconcile House and Senate versions of agricultural policy legislation will find the table crowded with members who have deeply held and widely divergent views on food stamps.
The U.S. Commodity Futures Trading Commission next month plans to complete rules to boost protection of customer funds and release a new proposal for limits on speculation in oil, natural gas and other markets, according to two people familiar with the matter.
House Speaker John Boehner lost support from more than one-fourth of his Republican colleagues as the chamber rejected a $939 billion agricultural-policy bill, the latest in a series of embarrassments handed to him by his own party.
The House Agriculture Committee canceled tentative plans to draft a new farm bill after its top Democrat sought a commitment that the legislation will be considered by the full chamber, according to committee leaders.
The House Agriculture Committee’s top Democrat criticized Republican leaders for failing to schedule a vote on a new farm-policy bill, saying time to pass the measure before the current law expires is “running out.”
Farm-state lawmakers in the House have conceded they probably won’t be able to attach a long-term extension of U.S. farm policy to any deal to avert tax increases and budget cuts set to take effect in the new year, and will now go back to the drawing board.
Growers of corn, cotton and other crops may have to accept reduced subsidies in the next farm bill as budget-cutting becomes necessary to contain record deficits, House Agriculture Committee Chairman Collin Peterson said.
Democrats on the House Agriculture Committee failed to restore cuts in federal food-stamp spending as the panel approved yesterday a $940 billion bill reauthorizing U.S. Department of Agriculture programs.
The House Agriculture Committee will go back to the drawing board on the farm bill in the next Congress, after unsuccessful efforts to include the legislation in any deal to avert more than $600 billion in tax increases and spending cuts set to trigger on Jan. 1.