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Looks like they buckled quickly to get the rest of the bill through ASAP.
by Doug Halonen
A bill in the House Agriculture Committee that would deal with commodity speculation was dramatically revised today to delete provisions in a previous draft that would have barred pension funds from investing in agricultural and energy commodities and engaging in equity and interest rate swaps, a committee aide said.
“(The) pension provisions are out of the bill,” the aide, who asked not to be identified, wrote in an e-mail response to a P&I Daily inquiry. The aide could not say why the provisions were removed.
Pension industry advocates said that the threat of the bans ÃƒÂ¢Ã¢â€šÂ¬Ã¢â‚¬Â included in the draft bill that was being circulated Wednesday ÃƒÂ¢Ã¢â€šÂ¬Ã¢â‚¬Â was met by significant opposition from pension fund representatives.
The draft and the revised bill were both sponsored by Rep. Collin Peterson, D-Minn. The committee will vote on the bill this afternoon, according to the committee.
“It’s going to be a pretty innocuous bill,” said one pension industry lobbyist, who asked not to be identified by name. “We’re not sweating it for sure.”