The Biden Administration Announces Investment for Physical Infrastructure

Today, the Biden Administration announced that it will invest more than $14 billion in funding for over 500 projects across the United States and associated territories. According to the fact sheet, the investment will include “$8 million to improve commercial navigation and allow larger and more ships to pass at the Port of Long Beach, California  – part of the nation’s largest port complex. The investment will support design work to widen the port’s main channel, deepen the entrance channel, and build an approach channel and turning basin. It also builds on the $52 million grant the Administration previously announced to support the Port of Long Beach’s on-dock rail facility, as well as a multi-billion dollar loan agreement with California to modernize the state’s ports, freight, and other goods movement infrastructure.”

Announcement here.

More Advocacy Issues

On May 10, ACSA submitted its comments in response to the U.S. Commodity Futures Trading Commission’s request for public comments on LedgerX, LLC d.b.a. FTX U.S. Derivatives’ (“FTX”) request for amended Derivatives Clearing Organization (“DCO”) Registration Order. More here.

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On May 12, the House Transportation Committee Subcommittee on Railroads, Pipelines, and Hazardous Materials held a hearing entitled “Board Member Views on the Surface Transportation Board (STB) Reauthorization.” More here.

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On May 12th, the House Agriculture Committee held a hearing on “Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models.” Committee Chairman David Scott (D-GA) said that he had serious concerns about the risks the FTX proposal would pose to derivatives markets’ primary functions of price discovery and risk hedging. Several members […]

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On April 15th, China Cotton Association (CCA) held its 2022 Annual Council Meeting online, with over 120 participants made of CCA’s Council members, government officials and industry experts. The meeting mainly focused on CCA’s works and efforts in 2021 and industry outlook and work priorities for 2022, which is to put continued efforts to promote […]

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CFTC Commissioners Confirmed

March 29th, 2022

Last night, the Senate confirmed all four Commodity Futures Trading Commission (CFTC) Commissioner nominees by voice vote. Democrats Kristin Johnson and Christy Goldsmith Romero are confirmed for terms expiring April 2025 and April 2024 respectively. Republicans Caroline Pham and Summer Mersinger are confirmed for terms ending April 2027 and April 2023 respectively. This is the first time that […]

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On the evening of March 21st, ACSA staff met with the China Cotton Association (CCA) to discuss the state of play for the cotton industry in both the U.S. and China. Yuan Associates stated that, “During the meeting, Vice President and Secretary General of CCA Mr. Wang Jianhong expressed the hope to work with ACSA […]

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