Subcommittee Explores Ways to Improve U.S. Forest Health
and Spur Job Creation in Rural America

WASHINGTON – Today, Rep. Glenn ‘GT’ Thompson, Chairman of the House Agriculture Committee’s Subcommittee on Conservation, Energy, and Forestry, held a public hearing to review several aspects affecting forest health, including timber harvests, wildlife management, invasive species, and the U.S. Forest Service’s planning rule.

Last month, the U.S. Forest Service released a report, which outlines the U.S. Department of Agriculture’s (USDA) goals for forest health. In the report, the agency stated one of its goals is to increase annual timber harvests from 2.4 billion board feet to 3 billion board feet in fiscal year 2014. Subcommittee Members pressed Forest Service Chief Tom Tidwell on how the agency intends to accomplish that goal while stressing the need to increase the number of timber harvests even more to create jobs, improve water quality, and prevent catastrophic wildfires from forming. Timber harvests have been in decline in recent years. The all-time high was 12.7 billion board feet in 1987, but dipped to its lowest level at 1.7 in 2002.

Witnesses on the second panel highlighted that more aggressive management practices are necessary, and more needs to be done to reduce the regulatory burden on those working in the forest products industry.

“The health of our national forests is an issue of vital importance for rural America. Not only are our national forests a source of immense natural beauty, but they provide us with natural resources, recreation opportunities, wildlife habitat, and serve as economic engines for local communities. It’s important to all of us that we have an effective plan in place that promotes healthier national forests,” said Chairman Glenn ‘GT’ Thompson (R-PA).

“We need to make sure the Forest Service and its partners work together to improve forest restoration and conservation while promoting a robust forest industry that supports local stakeholders and results in restored jobs and a vibrant rural economy. The Forest Service should always consider the multiple uses of our national forestland including timber production, habitat preservation, natural resource management and recreation and ensure local economic development and environmental protections work in harmony, instead of in competition, with each other,” said Ranking Member Tim Holden (D-PA).

Written testimony provided by the witnesses is linked below.

Witness List:

Panel I

Mr. Tom Tidwell, Chief, Forest Service, U.S. Department of Agriculture, Washington, D.C.

Panel II

Mr. Gary Barth, Director, Business and Community Services, Clackamas County, Oregon City, Oregon

Mr. Gregory Hoover, Department of Entomology, Pennsylvania State University, University Park, Pennsylvania

Mr. Chuck Watkins, Chief Operating Officer, Rex Lumber, on behalf of the Federal Forest Resource Coalition, Graceville, Florida

Mr. Gary Zimmer, Coordinating Biologist, Ruffed Grouse Society, Laona, Wisconsin

Subcommittee Examines Legislation to Clarify
Congressional Intent of Dodd-Frank Act Provisions

WASHINGTON – Today, Rep. K. Michael Conaway, Chairman of the House Agriculture Committee’s Subcommittee on General Farm Commodities and Risk Management, held a public hearing to consider three pieces of legislation designed to mitigate unintended consequences of certain provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and clarify the reach of new regulatory requirements to swaps activities that occur outside the U.S.

H.R. 3283, the Swap Jurisdiction Certainty Act would limit the extraterritorial scope of Title VII by providing a clear definition of U.S. person and non-U.S. person, and limit the application of Dodd-Frank to those activities that occur in the U.S, as Congress intended.

H.R. 1838 would modify Section 716 of the Dodd-Frank Act to ensure that the requirement for banks to “push out” certain swaps activities to separate affiliates does not increase risk to the system or drive up the costs of risk management tools for farmers and ranchers.

H.R. 4235, the Swap Data Repository & Clearinghouse Indemnification Correction Act of 2012 removes the indemnification provisions from sections 728 and 763 of the Dodd-Frank Act, and makes certain that U.S. and foreign regulators can share swaps data to increase market transparency and monitor for systemic risk.

“Getting Dodd-Frank right is more important than getting it done quickly. Examining the rulemaking process for errors, unclear instructions, or unintended consequences, and then fixing those mistakes is an essential part of our job. Today we heard about the consequences of the broad, extraterritorial approach to implementing Dodd-Frank that regulators are contemplating. This legislation will make it clear that Congress never intended for the CFTC to police the entire global swaps market,” said Chairman K. Michael Conaway (R-TX).

“The financial market was created in the heartland to improve the commodity market, and preserve the value of bulk commodities and seasonal goods in the face of unforeseeable risk such as drought and flooding. This reliance and the integrity of our markets are critical to our nation for jobs, a healthy economy, and affordable food,” said Ranking Member Leonard L. Boswell (D-IA).

Written testimony provided by the witnesses is linked below.

Witness List:

Panel I

Mr. Charles A. Vice, President and Chief Operating Officer, IntercontinentalExchange, Atlanta, Georgia

Mr. Paul Saltzman, President of the Association, EVP and General Counsel of the Payments Company, The Clearing House, New York, New York

Mr. Keith Bailey, Managing Director, Fixed Income, Currencies and Commodities, Barclays Capital, New York, New York

Mr. Michael Bodson, Chief Operating Officer, Depository Trust and Clearing Corporation, New York, New York