This bill reauthorizes through FY2021, and revises provisions related to, operations of the Commodity Futures Trading Commission (CFTC). In addition, the bill amends the Commodity Exchange Act to direct registered futures associations to require their futures commission merchant members to meet certain procedural and reporting requirements.
Why Jason Lewis’ vote conflicts with our values.
The CFTC is trying to prevent derivatives from unravelling the financial markets again and causing another crash, it shouldn’t be told how to do its business by Congress. (Source: Countable)
“This bill increases government red tape, increases costs to the commission for no foreseeable benefit, and may increase the likelihood of another financial crisis like 2008. For these reasons, I opposed this bill, which passed the House on Republican support with a vote of 239 to 182.” (Source: Congressman Seth Moulton)