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Stabenow: CTFC reauthorizing bill will not pass senate

United State SenateU.S. Senate Agriculture Committee ranking Democrat Debbie Stabenow says the Commodity Futures Trading Commission reauthorization bill has no chance of passage on the Senate floor. The Senate Agriculture Committee Thursday voted 11 to 9, along party lines, to pass the reauthorization bill, sending it on to the full Senate. Committee Chairman Pat Roberts says the bill will bring certainty for end-users of derivatives, such as farmers and ranchers. Stabenow, who offered an amendment to the bill, said Democrats voted against it because the bill does not provide additional funding for the CFTC to regulate the futures market, according to the Hagstrom Report. Stabenow proposed an amendment that would have allowed the CFTC to charge user fees to market participants, but the committee voted against her proposal. The fees would have generated more funding for the CFTC.

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