Meanwhile, Senators Susan Collins, R-Maine, and Joe Lieberman, I-Con., introduced the Commodity Speculation Reform Act of 2008, S. 3248, which they claimed would curb excessive speculation in the commodity markets, which is contributing to the costs of food and energy. The bill includes three proposals to (1) prohibit pension funds and governmental entities from investing in commodities, and prohibit other large institutional investors from investing in commodities index funds; (2) cap the amount of overall market share in any one commodity that can be held by financial speculators; and (3) close the so-called swaps loophole which allows large investors to skirt the individual speculative position limits created by Congress in 1936.