Washington, DC –(ENEWSPF)–June 9, 2015. Rep. Peter DeFazio (D-OR) issued the following statement on H.R. 2289, the Commodity End-User Relieft Act:
“I stand in strong opposition to H.R. 2289, the so-called “Commodity End User Relief Act.” While it is critical that Congress reauthorizes the Commodity Exchange Act, passing a restrictive and onerous act that weakens the Commodity Futures Trading Commission (CFTC) is not the solution.
In its current state, the Commodity Exchange Act keeps American families’ financial futures safe from irresponsible behavior by Wall Street speculators and hedge fund managers. H.R. 2289 rolls back key provisions of Dodd-Frank Wall Street Reform and would allow the same reckless behaviors that brought about the 2008 financial collapse. Undermining these protections is dangerous for American families and the American economy alike, and we must find another way forward.”