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ATA Calls for Increased Funding for CFTC to Help Curb Excessive Speculation

ATA Calls for Increased Funding for CFTC to Help Curb Excessive Speculation

11/10/2011

 

On November 9, ATA joined 53 other industry associations on a letter to the members of the congressional appropriations conference committee calling for increased funding for the Commodity Futures Trading Commission (CFTC).   The letter points out that additional funds are needed to implement the CFTC’s expanded responsibilities under the Dodd-Frank Financial Reform Act to oversee derivatives markets.  The letter supports the President’s request for $308 million and points out that the proposed House funding freeze at $170 million would leave CFTC drastically underfunded.  The Senate approved a $240 million funding level.  CFTC regulation of derivatives is important to ATA members that are harmed by volatile fuel prices caused in part by excessive speculation. Contact:  Glen Kedzie at gkedzie@trucking.org