CFTC Funding Cut Passes House Appropriations Committee

Law360, New York (June 19, 2012, 8:36 PM EDT) -- The House Appropriations Committee passed by a voice vote on Tuesday a Republican proposal that includes steep cuts for the U.S. Commodity Futures Trading Commission, a move Republicans praised as a “careful balance” between fiscal restraint and investment in government programs.

The Fiscal Year 2013 Agriculture Appropriations Bill, which will now head to the House, provides the CFTC with $180 million, a cut of $25 million from last year's funding and a level $128 million below President Barack Obama's budget request. The legislation allows for a...
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