Thank you Mr. Chairman. Good afternoon officers, members of the board and special guests. I appreciate this opportunity to report on the activities of your Political Action Committee – the Committee for the Advancement of Cotton.
First, and most importantly, I want to again thank all of you who have made generous contributions to CAC. I also want to thank the members of the Steering Committee who coordinate our fundraising efforts at the local level. There is nothing tougher than raising money and the members of the Steering Committee do a terrific job with little recognition. Their efforts ensure that our industry has a viable Political Action Committee which compliments our efforts to deliver our message to Congress and the Administration.
CAC received a record level of financial support last year and we could not have accomplished it without the help of leaders such as you. Our goal in 2003 was to raise $155,000 and we exceeded that by raising just over $161,000. At our Annual Meeting in January we increased our goal to better fit the industry’s needs. So far this year, we have raised about 50% of our new 2004 goal for CAC.
It is vital for CAC to have the financial resources to support candidates who have been or are willing to become advocates for our industry. It is no secret that we are being challenged in domestic and international forums. We must have strong advocates in Congress in order to survive and prosper.
While everyone’s minds are rightly focused on the November elections, we can not forget that the remainder of the 2004 Congressional agenda offers challenges and opportunities for the cotton industry. We have identified key programs that must be funded in the FY ‘05 appropriations measure. We will likely face another serious effort to change the Farm Bill. And trade policy becomes more complicated and challenging every day. Any of these initiatives, if successful could significantly change the way cotton is produced, processed and marketed by our industry. Unfortunately, we are always just one vote away from major changes to our entire industry!
As a resource in the legislative arena, CAC has never been more important. Campaign finance reform laws have made political action committees like CAC even more effective. Candidates now rely almost exclusively on contributions by PACs and individuals. This allows us to compete with the environmental organizations, labor unions and the anti farm subsidy think tanks that previously used undocumented soft money to influence elections. But we can compete if, and only if, CAC has sufficient financial resources.
After the last election we saw major changes in the make-up of Cotton Belt Congressional delegations. The 2004 elections will bring more change. This year there are 14 open Cotton Belt House seats attributable to retirements or Members running for higher office. There are another 14 Cotton Belt House seats that are tightly contested. After the 2004 elections, there will be at least 12 Cotton Belt Senators who have been elected since 2002. Six were elected in 2002 and at least six will be elected to replace retiring incumbents in 2004. That means there will be 12 Cotton Belt Senators with less than one full term of service. Think about it – we have gone from an era of Helms, Thurmond, Hollings and Breaux to Dole, Graham and Chambliss. While these new members are certainly advocates for our industry, the Senate is still an institution based on seniority.
While it is unlikely control of the House will change; clearly the control of the Senate is at stake in these elections. Control of the Senate means control of the legislative agenda during a period when the next budget debate will affect current farm law and debate on the next farm bill will begin. CAC can not guarantee results, but it gives us an opportunity to make our case to new members of Congress and we can also assist our long time friends by providing them the necessary funds to gain re-election.
As you know by now, a very easy way to contribute to CAC is by donating a portion of your travel expense reimbursement. We have made this convenient by creating a special form that allows you to allocate some or all of your expense reimbursement to CAC. It is simple and I promise you will benefit from the experience.
On behalf of the members of the CAC Steering Committee, I challenge you as leaders of this industry to actively participate in and help us reach our expanded fundraising efforts. We need every segment’s support. We must convince everyone associated with the industry that contributing to CAC should be considered as another cost of doing business. Our goals and expectations are high and we need your help to achieve them. Not only is it vital that we support CAC, but that everyone gets out to vote. As I have mentioned, there are many close House and Senate races in the Cotton Belt and every poll and pundit believes that the presidential election will be razor thin.
I am pleased that the Council is working to encourage members of our industry to vote through the Helping Americans to vote.org website which is linked to the Council’s homepage. I am also pleased that we will have Charlie Cook a noted political analyst as our speaker tonight. I hope you will come prepared to ask him questions.
Thank you for your support for CAC this past year, and thank you for your help in the future. Most importantly, please vote in November!
Mr. Chairman, this concludes my report.
