The White House on Tuesday threatened to veto another House spending bill for 2014, deepening the sense that another fiscal cliff on appropriations and the debt ceiling looms in the fall.
The Agriculture spending bill, which covers the USDA, Commodity Futures Trading Commission and Food and Drug Administration operating budget, is coming before the Rules Committee Tuesday but has not yet been given floor time.
The Obama administration listed failure to provide $120 million for CFTC to implement the Dodd-Frank financial reform law as a reason for the veto threat.
“The bill severely undermines key investments in financial oversight in a manner that would cripple Wall Street reform, and impedes implementation of statutorily-mandated financial regulations. It also imposes harmful cuts in rural economic development, renewable energy development, nutrition programs, food safety, agricultural research, and international food aid,” the White House said.