The Wake-Up Call: House GOP Seeks Big Cuts To FDA, Food Safety Inspectors
First Posted: 05/24/11 12:55 PM ET Updated: 05/24/11 03:17 PM ET
• A House GOP proposal is seeking $285 million in cuts to the Food and Drug Administration, an 11 percent reduction from FY 2011, just as the agency moves to implement an ambitious new food safety law, reports Food Safety News. The proposal would also reduce the U.S. Department of Agriculture’s Food Safety and Inspection Service budget by $35 million. Proponents claim the reduced funding level will not prevent “critical meat, poultry and egg product inspection and testing activities, and supports an expansion of a poultry inspection pilot project that will lead to improving food safety.”
• How to decipher Dodd-Frank’s alphabet soup: Bloomberg Government provides this helpful glossary on everything from “camels” (“Rating given to banks based on capital adequacy, asset quality, management practices, earnings performance, liquidity and sensitivity to market risk”) to “zombie banks” (“A financial institution with negative net worth that continues to operate through federal assistance”).
• AT&T spent $6.8 million in the first quarter of 2011, hiring 71 experts to push through their merger with T-Mobile.