Appropriations Committee Approves Fiscal Year 2016 Financial Services Bill
Legislation funds U.S. judicial system, law enforcement, and programs to bolster small businesses while targeting IRS and other underperforming agencies for cuts
June 17, 2015 -
The House Appropriations Committee today approved the fiscal year 2016 Financial Services and General Government Appropriations bill on a vote of 30-20. The bill provides annual funding for the Treasury Department, the Judiciary, the Small Business Administration, the Securities and Exchange Commission, and several other agencies.
The bill totals $20.2 billion in funding – $1.3 billion below the fiscal year 2015 enacted level and $4.8 billion below the President’s budget request. With this funding, the legislation prioritizes critical national programs to enforce U.S. laws, maintain a fair and efficient judicial system, and help small businesses grow. In order to make these targeted investments, the bill reduces or eliminates lower-priority programs and cuts funding to poor-performing agencies – including an $838 million reduction to the Internal Revenue Service.
In addition, the bill includes several important policy provisions to rein in Administration overreach, cut bureaucratic red tape, and protect the rights of the American people. For example, the legislation includes provisions to stop the IRS from further implementing the individual mandate under ObamaCare, to protect the right to free speech and political involvement, and to prohibit the Federal Communications Commission from implementing a net-neutrality order.
“This bill covers a wide swath of programs that enable our federal government to do its job. From preserving an open and fair judicial system, to investing in small businesses that help our economy grow, this bill does a great deal of good work, and I am proud to support it today,” Appropriations Chairman Hal Rogers said. “The legislation also finds ways to rein in wasteful spending, targeting underperforming agencies for cuts that are both functional and commensurate with their actions.”
“Every day, Americans are making tough decisions about their own budgets and rightfully expect federal agencies to do the same. While it reflects a very tight budget, this bill makes investments to support economic growth and job creation through our small businesses, and to protect our citizens by strengthening the enforcement of laws and the administration of justice,” said Financial Services Subcommittee Chairman Ander Crenshaw. “In addition, the bill reduces funding for nonessential areas, and holds the Administration and the Internal Revenue Service more accountable to the taxpayer.”
The following amendments to the bill were adopted by the full committee today:
Rep. Crenshaw – The manager’s amendment makes technical and non-controversial changes to the bill and report. The amendment was adopted on a voice vote.
Rep. Crenshaw – The amendment prohibits funding for the Financial Stability Oversight Council to designate non-banks as “systemically important financial institutions,” thereby imposing new regulations on their activities, without allowing non-banks to change their business practices prior to final designation. The amendment was adopted on a vote of 31-19.
Rep. Fattah – The amendment restores mail delivery standards to the July 1, 2012 level. The amendment was adopted on a vote of 26-23.
Rep. Culberson – The amendment prohibits funding for the IRS to audit a faith-based 501(c)3 organization, unless the audit is approved the IRS Commissioner. The amendment was adopted on a vote of 30-19.
Rep. Womack – The amendment prohibits funding for the Consumer Financial Protection Bureau to issue a final rule on the use of arbitration until the Bureau conducts a thorough study. The amendment was adopted on a voice vote.
Rep. Quigley – The amendment adds report language encouraging GSA to incorporate bird safe materials and design features for GSA-owned federal buildings. The amendment was adopted on a voice vote.
Rep. Harris – The amendment stops the FCC “joint sales agreements” rule for fiscal year 2016, which will allow local media outlets to continue to share equipment and advertising between stations. The amendment was adopted on a vote of 38-11.
Rep. Harris – The amendment prohibits funding for abortions through OPM-negotiated “multi-state qualified health plans” offered under Obamacare. The amendment was adopted on a vote of 29-18.
Rep. Palazzo – The amendment prohibits the District of Columbia from using federal or local funds to implement or enforce the Reproductive Health Non-Discrimination Amendment Act. The amendment was adopted on a vote of 28-22.
The bill was approved on a vote of 30-20.
For a summary of the bill, please visit: http://appropriations.house.gov/news/documentsingle.aspx?DocumentID=394251
For the text of the bill, please visit:
For the bill report, please visit: