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Lucas welcomes McAllister to the House Agriculture Committee
Story Date: 3/17/2014
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Source: US HOUSE COMMITTEE ON AGRICULTURE, 3/14/14
Chairman Frank Lucas today welcomed Rep. Vance McAllister, who represents the Fifth District of Louisiana, to the House Agriculture Committee. Rep. McAllister is a small business owner who is serving his first term in the U.S. House of Representatives.
Rep. McAllister will serve on three subcommittees: General Farm Commodities and Risk Management; Conservation, Energy, and Forestry; and Department Operations, Oversight and Nutrition.
Mindful of the harm regulations can inflict on small businesses, Congressman McAllister today introduced the Commodity Delivery Relief Act. Under new regulations, the Commodity Futures Trading Commission (CFTC) is treating established contracts that result in actual physical delivery of a commodity, such as natural gas, as a swap. This raises operating costs and will negatively impact natural gas and utility rates across the country. The Commodity Delivery Relief Act prevents the CFTC from imposing this unnecessary and costly regulation on companies that make arrangements to ensure the efficient, physical delivery of commodities necessary to conduct their core business operations.
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