Washington – Business Roundtable President John Engler issued the following statement on today’s bipartisan House passage of H.R. 1317 – legislation that fixes a Dodd-Frank Act provision and exempts non-financial end-users that employ centralized treasury units (CTUs) from clearing requirements:

“America’s business leaders applaud the House of Representatives for passing this important legislation to help U.S. companies better focus on investment, expansion and hiring. This legislation will help ensure that needless regulation does not stand in the way of businesses using CTUs to manage risk.

“We urge the Senate to approve this much-needed clarification of the Dodd-Frank Act and urge President Obama to sign it into law.”

Earlier this year, Business Roundtable released an economic growth agenda that calls for tax reform, trade expansion, fiscal stability, infrastructure investment and a smarter approach to regulation – including reform of derivatives regulation – so that America can reach its full potential.