“Good morning and thank you Mr. Chairman.
“Less than a week ago, this Committee held a hearing to review the legislative proposals we are considering today. The testimony from CFTC Chairman Gensler reaffirmed my view that the Commission is on the right track. I think they’re going to get this right and that it is premature to make all these changes until we know what the rules will look like at the end of the day.
“To me, it’s best to wait until the CFTC has completed its rulemaking and then, if needed, we can make improvements during the CFTC reauthorization process this summer. As I have said before, if the CFTC gets something wrong I am willing to support a correction.
“At the same time, I do understand the Chairman’s decision to bring these bills before the Committee today. Although I think any action is premature, it is certainly his prerogative as Chairman. I am highly doubtful these bills will be considered in the Senate, given that Senate Republican would rather eliminate Dodd-Frank altogether than make it more workable.
“With that Mr. Chairman, I yield back."
Source: House Committee on Agriculture
