I rise in strong opposition to H.R. 992, commonly known as the swap push out bill. This bill would effectively gut important financial reforms and put taxpayers on the hook for big banks’ risky behavior.

It is time for members to start making the compromises necessary to put together a bill that can be defended and clearly explained to both our colleagues and the general public. It is time to put together a bill that can pass both Houses and be signed into law by the President.

The Democratic conferees represent our caucus and bring a great deal of expertise to the process. I am hopeful that if Republican Leadership can be reasonable and leave the conference committee alone to do its work that we will be able to finish a five-year, comprehensive farm bill this year.”

I’ve been working on this farm bill for nearly four years and from the beginning I’ve said that I think it is possible to find some middle ground and make reasonable, responsible reforms to nutrition programs. Unfortunately, this bill is neither reasonable nor responsible.

Instead of appointing farm bill conferees, the Republican Leadership has decided to move forward with an unnecessary and divisive nutrition bill. Even if this bill is defeated, as it should be, I worry the debate will eliminate any remaining goodwill needed to pass a farm bill.

Adding an additional $20 billion in nutrition cuts, on top of the poison pill nutrition amendments that brought down the Agriculture Committee’s bipartisan farm bill in June, effectively kills any hopes of passing a five-year farm bill this year.

I rise in opposition to this bill, for two reasons. First and foremost, I believe the strategy of splitting the farm bill is a mistake that jeopardizes the chances of it ever becoming law. And repealing permanent law all but ensures that we will never write a farm bill again.

This was not the only option. Following the House failure to pass a comprehensive, bipartisan, five-year farm bill, I repeatedly expressed a willingness to work with the Majority on a path forward.

The farm bill failed to pass the House today because the House Republicans could not control the extreme right wing of their party. From day one I cautioned my colleagues that to pass a farm bill we would have to work together. Instead, the House adopted a partisan amendment process, playing political games with extreme policies that have no chance of becoming law.

With roughly 16 million American jobs tied to agriculture, the farm bill is a jobs bill. The rural economy remained strong during our nation’s financial crisis and that has continued during our recovery; this is in large part due to agriculture. And this is why the farm bill is so important.