H.R. 7488

119 HR 7488 IH: CFTC Office of the Chief Economist Act of 2026
 U.S. House of Representatives
 2026-02-11
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  2d Session  H. R. 7488  IN THE HOUSE OF REPRESENTATIVES   February 11, 2026   Mr. Bresnahan  (for himself and  Mrs. McClain Delaney ) introduced the following bill; which was referred to the  Committee on Agriculture    A BILL
To create an Office of the Chief Economist at the Commodity Futures Trading Commission.
1.
Short title
This Act may be cited as the   CFTC Office of the Chief Economist Act of 2026  .
2.
Office of the Chief Economist
(a)
In general
Section 2(a) of the Commodity Exchange Act ( 7 U.S.C. 2(a) ) is amended by adding at the end the following:
(16)
Office of the chief economist
(A)
Establishment
There is established in the Commission the Office of the Chief Economist.
(B)
Head
The Office of the Chief Economist shall be headed by the Chief Economist.
(C)
Functions
The Chief Economist shall serve as economic advisor to the Commission and perform functions such as economic analysis, regulatory cost-benefit analysis, and research.
(D)
Professional staff
(i)
Appointment authority
The Commission may appoint an individual to a position described in clause (ii)—
(I)
in accordance with the statutes, rules, and regulations governing appointments to positions in the excepted service (as defined in section 2103 of title 5, United States Code); and
(II)
without regard to any statute, rule, or regulation governing appointments to positions in the competitive service (as defined in section 2102 of such title).
(ii)
Position described
A position referred to in clause (i) is a position at the Commission that—
(I)
serves the Office of the Chief Economist;
(II)
is in the competitive service (as defined in section 2102 of such title); and
(III)
(aa)
is an economist, research analyst, or data specialist; or
(bb)
requires specialized knowledge of futures, swaps, or commodities markets, financial and capital market formation or regulation, financial market structures or surveillance, data collection or analysis, or information technology.
(iii)
Rule of construction
The appointment of a candidate to a position under authority of this subsection shall not be considered to cause such position to be converted from the competitive service to the excepted service.
 .
(b)
Conforming amendment
Section 15(a) of such Act ( 7 U.S.C. 19(a) ) is amended—
(1)
in paragraph (1), by inserting  , after coordinating with the Office of the Chief Economist,  before  shall ;
(2)
in paragraph (2)(B), by striking  futures markets  and inserting  markets under the jurisdiction of the Commission ;
(3)
in paragraph (2), by redesignating subparagraphs (D) and (E) as subparagraphs (E) and (F); and
(4)
in paragraph (2), by inserting after subparagraph (C) the following:
(D)
considerations of market liquidity;
 .