McAllister's Legislation Included in the Customer Protection and End-User Relieve Act That Passed the House

Statement

Today, U.S. Rep. Vance McAllister (R-Swartz) applauded House passage of bipartisan legislation, H.R. 4413, that would reauthorize and improve the operations of the Commodity Futures Trading Commission (CFTC) to protect customers from market failures.

Included in this passed legislation was H.R. 4267, the Commodity Delivery Relief Act introduced earlier this year by McAllister. The Commodity Delivery Relief Act prevents the CFTC from imposing costly regulations on companies entering into transactions, ensuring the efficient physical delivery of needed commodities to conduct core business operations.

McAllister issued the following remarks:

"I am pleased that my legislation, H.R. 4267, was included in the Customer Protection and End-User Relief Act which has passed the House. The CFTC has tried to regulate contracts that allow companies to alter the quantity of a product delivered based on the company's needs. Unfortunately, costly and unnecessary guidelines subject a large portion of the energy marketplace to burdensome regulations. Without clarified legislation, the rules will continue to increase companies' operating costs. This bill will provide companies with efficient means to conduct daily business and provide affordable energy sources to factories and American households."

Source