Wall Street Accountability through Sustainable Funding Act
Sponsored By: Representative DeLauro, Rosa L. [D-CT-3]
Unknown
Summary
Wall Street Accountability Through Sustainable Funding Act This bill amends the Commodity Exchange Act to require the Commodity Futures Trading Commission (CFTC) to impose fees to recover the cost of the appropriation to the CFTC for the fiscal year. The fees must be imposed on each agreement, contract, or transaction that is a contract of sale of a commodity for future delivery, an option, or a swap. The CFTC may exempt contracts, agreements, or transactions from the fee if the exemption is consistent with: (1) the public interest; (2) the equal treatment of contract markets, derivatives clearing organizations, and market participants; and (3) the operation of a nationwide market system. The bill also establishes the Commodity Futures Trading Commission Reserve Fund in the Treasury and requires the CFTC to impose and collect an additional fee to be deposited into the Fund. The CFTC may obligate amounts in the Fund for long-term investments in information technology and unexpected expenses. The balance in the fund is limited to $50 million.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
DeLauro, Rosa L. [D-CT-3]
CT • D
Cosponsors
Sen. Welch, Peter [D-VT]
VT • D
Sponsored 5/20/2015
Rep. Courtney, Joe [D-CT-2]
CT • D
Sponsored 5/20/2015
Rep. Waters, Maxine [D-CA-43]
CA • D
Sponsored 5/20/2015
Rep. Ellison, Keith [D-MN-5]
MN • D
Sponsored 5/20/2015
Rep. McGovern, James P. [D-MA-2]
MA • D
Sponsored 5/20/2015
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 5/20/2015
Rep. Schakowsky, Janice D. [D-IL-9]
IL • D
Sponsored 5/20/2015
LOUISE SLAUGHTER
NY • D
Sponsored 5/20/2015
Rep. Hastings, Alcee L. [D-FL-20]
FL • D
Sponsored 5/20/2015
Roll Call Votes
No roll call votes available for this bill.
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