One step at a time: End-Users continue the journey to fix unintended consequences of Dodd-Frank

By March 20, 2013General, Taxation

The NAM applauds the action of the House Agriculture Committee earlier today in reporting out two bills that are critical to derivatives end-users like manufacturers. These bills, H.R. 634, the “Business Risk Mitigation and Price Stabilization Act of 2013” and H.R. 677 the “Inter-Affiliate Swap Clarification Act” are key priorities for manufacturers and will ensure that end-users are fully exempt from posting margin and that inter-affiliate trades are not treated the same as market-facing trades and are exempt from clearing requirements.

As a steering committee member of the Coalition for Derivatives End-Users the NAM has been leading in advocating for the passage of these bills. Today’s mark-up came on the heels of last week’s House Ag Committee hearing where the Coalition had two witnesses testify in support of these bills including NAM member company Honeywell who testified in support of H.R. 634. That these bills were reported out of the House Agriculture Committee so quickly following the hearing is a solid indication that strong support exists for end-users.

We now look forward swift consideration of these two common-sense, cost and job saving bills in the near-term by the House Financial Services Committee in the coming weeks and the NAM will be leading the charge to have this accomplished.

Carolyn Lee

Carolyn Lee

Senior Director of Tax Policy at National Association of Manufacturers
Carolyn Lee is Senior Director of Tax Policy at the National Association of Manufacturers (NAM), the nation's largest industrial trade association. In this role Carolyn is responsible for portions of the NAM's tax portfolio including issues individual marginal tax rates - which are a top priority for small and medium sized manufacturers - as well tax issues relating to investment income, energy efficiency and capital cost recovery.
Carolyn Lee

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