CFTC Head Seeks Bigger Budget, But Trump Wants It Flat

Law360, New York (May 23, 2017, 6:22 PM EDT) -- The U.S. Commodities and Futures Trading Commission is seeking a nearly 13 percent increase in its fiscal 2018 budget over the Trump administration's proposal to keep the agency's spending flat, saying Tuesday it needs more money to do its job effectively.

The CFTC's request for $281.5 million represents a 12.6 increase from its fiscal 2017 budget of $250 million, while the Trump administration wants to keep the commodities watchdog's spending flat based on last year's level. Additionally, the U.S. Securities and Exchange Commission is requesting a flat $1.6 billion budget in line with President Donald Trump's proposal, which now heads to...

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