While staff at the Securities and Exchange Commission may be applauding the new federal budget proposed by President Barack Obama, counterparts at the Commodity Futures Trading Commission are far from happy.
In a proposed budget submitted to Congress on Tuesday, the White House is seeking $1.7 billion to fund the Securities and Exchange Commission for the new government fiscal year that starts on Oct. 1. The Commodity Futures Trading Commission would work with a budget of $280 million if Congress approves the request, which is unlikely to happen given a counter-proposal expected from House Republicans this week.
