Posted on 10/24/2014 3:00:53 AM PDT by raybbr
portland >> U.S. Reps. Rosa DeLauro, D-3, and Joe Courtney, D-2, want to give the federal agency charged with regulating commodities trading a more reliable revenue stream.
The two lawmakers said Thursday they are introducing the Wall Street Accountability Through Sustainable Funding Act. The legislation calls for the Commodity Futures Trading Commission (CFTC) to be funded through transaction fees.
Currently, the regulatory agency is funded through a general legislative appropriation, DeLauro said. That has led to the agency’s funding becoming a political football, she said.
“For the past three years, Congress has starved the CFTC of resources,” DeLauro said. “That hurts their ability to provide oversight that helps contribute to stable energy prices for Connecticut families.”
DeLauro and Courtney announced their legislation at Daniels Energy, an independent home heating oil business serving more than four-dozen communities in New Haven, Middlesex, New London and Tolland counties.
“Left unchecked, rampant speculation leaves small businesses and their customers at the whims of investors, subject to volatile price spikes that strain business and household budgets,” Courtney said. “As the weather gets colder and Connecticut residents need to heat their homes, this effort to prevent excessive speculation is even more important for consumers.”
(Excerpt) Read more at nhregister.com ...
It’s what they do.
For the briefest of moments I was cheered to read that a federal agency was being starved. Then I read that the claim came from a leftist politician so it had to be a lie.
I’m willing to bet that this agency has never had a real cut in it’s budget.
The taxpayers are an ATM that never runs out of money for this money-grubbing politicians.
Their approach is wrong, but this statement is correct:
“Left unchecked, rampant speculation leaves small businesses and their customers at the whims of investors, subject to volatile price spikes that strain business and household budgets,”
Something needs to be done, just not this. Simply repealing the Commodity Futures Modernization Act of 2000 would go a long way and cost nothing.
These two Marxists would tax freedom. I hope CT-2 will switch because Courtney is too liberal for the district. CT-3 is a third world hellhole.
Camels nose under the tent.
Commodity and stock trading transaction taxes rank very high on the Leftist wish list.
Translation:
"International Zionist bankers are responsible for everything that is wrong in this country. Let's send them to the Gulags."
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