CFTC President’s Budget and Performance Plan, FY 2013 (Letter and Report)

CFTC President's Budget and Performance Plan, FY 2013

Chairman's Transmittal Letter, FY 2013 President's Budget and Performance Plan

Statement of CFTC Commissioner Bart Chilton

Statement of Dissent, Commissioner O'Malia

Statement of Dissent , Commissioners O'Malia and Sommers

The CFTC's budget request estimates the need for an appropriation of $308,000,000 and 1,015 staff-years for the agency. This amounts to a 50% increase from its current $205 million budget. Commissioner O'Malia's dissent argues that the agency's "budget request, like several requests before it, makes an unsubstantiated case for a massive expansion in staffing that is both unrealistic and unsustainable in this deficit environment."

In a separate dissent to the Performance Plan, Commissioners O'Malia and sommers protest the fact that funds and priorities have been withdrawn from critical futures market oversight and rule enforcement reviews to focus on the Dodd-Frank rules, arguing that the Plan "is filled with statements that make it clear that Dodd-Frank rulemaking is a priority and will be pursued at the expense of other critical goals and priorities."