Obama, Congress set to fight on funds for regulator
February 11, 2011
President Barack Obama's proposed budget for fiscal 2012 includes $308 million for the Commodity Futures Trading Commission, up 82 percent from the regulator's current spending level, two sources with direct knowledge of the number said on Friday.
But House Republicans looking to slash government spending want steep cuts at the CFTC, in a bid to starve it because of its lead role in implementing Dodd-Frank financial reforms. The CFTC is one of the focal points of anticipated bitter partisan fights over funding.