House Ag Chair Frank Lucas and ranking member Collin Peterson have introduced the Customer Protection and End User Relief Act. The measure reauthorizes and improves operations of the Commodity Futures Trading Commission. South Dakota Farmers Union President Doug Sombke supports the legislation. He says it’s a good bill that protects end users who actually use the markets to hedge against risk.
Sombke says having Lucas and Peterson carry the bill bodes well for its chances of passage.
The legislation requires the CFTC to quantify the costs and benefits of future regulations and orders. The sponsors say by quantifying those it will strengthen the overall economy and encourage the creation of jobs.
