The U.S. Senate Agriculture Committee voted 11 to 9 along party lines to reauthorize the Commodity Futures Trading Commission for five years. The committee voted Thursday morning,following a seperate Senate floor vote, according to the Hagstrom Report. Committee Chairman Pat Roberts says the bill will provide relief from regulation to the end users of financial instruments regulated by the CFTC. Ranking Committee Democrat, Debbie Stabenow of Michigan, said the CFTC does not have the resources it needs to do its job and introduced an amendment for a user fee program to provide the agency more money. However, the committee voted down her amendment. The House passed its version of the CFTC authorization last year.
Senate agriculture committee approves CFTC bill
