Oklahoma Farm Report: Congressman Frank Lucas Pleased to Have Some Breathing Room in Climate Change Debate

Fairly soon after he took on the role of the Ranking member of the House Ag Committee, Congressman Frank Lucas began issuing a weekly "Ag Minute" designed as a short editorial from the lawmaker on various subjects.  This week during The Ag Minute Ranking Member Frank Lucas highlights how cap and tax legislation jeopardizes our safe, abundant, and affordable food and fiber supply.

"We like to say that we have the safest, most abundant, most affordable food and fiber supply in the world. But this isn't just a boastful expression, it is a reality. Our farmers and ranchers are responsible for feeding folks living in our country and throughout the world.

"But, cap and tax legislation threatens that safe, abundant and affordable food and fiber supply. The agriculture industry, as we know it, will not survive under the heavy burdens of a cap and tax policy.

"This week the Agriculture Subcommittee on Conservation, Credit, Energy, and Research will hold two important hearings to learn more about the economic impact of climate change legislation. Witnesses are expected to highlight and discuss various studies that have been completed on the costs of cap and trade on the agriculture industry.

"Although these studies make different assumptions or have different end results, the overwhelming conclusion from each one is that the cost to agriculture is real. Our farmers and ranchers have much to lose and very little, if anything, to gain.

"It is expected that higher energy prices and higher operating costs will decrease farm income anywhere from $5 billion to $50 billion per year. This means that all of us can expect a reduction in our domestic supply of agricultural products and higher food prices.

"My friends, the agriculture industry and rural America cannot afford the devastating economic effects of cap and tax."

# # #

Recent Posts

Jul 18, 2024

Congressman Lucas Welcomes New Field Representative to District Staff

Yukon, OK – Congressman Frank Lucas (OK-03) today announced an addition to his District Office staff following the hiring of Nathan Dethloff as a Field Representative. Originally from Lone Grove, Oklahoma, Nathan graduated in May of 2022 from Oklahoma State University. Most recently, in May of 2024, he earned a Master of Science in Agricultural […]

Jul 10, 2024

Lucas and Chair Powell Agree: Bank Regulators Should Re-propose Basel

Washington, DC – Today, Congressman Lucas and Federal Reserve Chair Jerome Powell discussed the need for a re-proposal of Basel Endgame and plans to address inflation. On a Basel Re-proposal: Lucas: “You have reiterated how Members of the Board would like to see a revised Basel proposal put out for public comment, but you’re working […]

Jul 9, 2024

Secretary Yellen Defers on Basel, Supports Changes to Increase Liquidity in U.S. Treasury Market

Washington, DC – Today, Congressman Lucas followed up with Secretary Yellen on the impact of the Basel Endgame proposal and also potential reforms to increase participation in U.S. Treasury markets. Highlighted Quotes: Lucas: “During our discussion when you were last before the Committee, you largely deferred to the Fed, FDIC, and OCC on the details […]