Financial Services Appropriations Bill Passes Subcommittee

WASHINGTON, D.C. – The House Appropriations Subcommittee on Financial Services today approved its annual legislation to fund the various programs and agencies under its jurisdiction for the next fiscal year. Some of these funding accounts include the Treasury Department, the Executive Office of the President, the Judiciary, and the District of Columbia. The bill contains $24.2 in total spending, which is a 7.1% increase over last year’s funding levels.

 

House Appropriations Ranking Republican Jerry Lewis expressed several concerns with the bill, including the high level of overall spending.

 

“The Financial Services bill is yet another huge spending bill being pushed through Congress by the Democrat Majority without regard for the taxpayers who are footing the bill. A 7 percent increase in spending on bureaucratic government agencies will do little to help struggling families, improve our economy, or promote safety and security, but will further contribute to current financial crisis and our mountain of debt,” Lewis said, “At the end of the day, should all of the Appropriations spending proposed by the Democrat Majority be approved, $84,352 in new debt will be dumped on each of our children and grandchildren.”

 

Financial Services Subcommittee Ranking Republican Jo Ann Emerson also indicated her opposition to the large overall spending in the bill.

 

“I believe the resource requirements of the agencies funded in this bill can be met with a smaller allocation, especially given the Federal government’s financial situation,” Emerson said, “Providing a 7 percent increase in funding for a bill that primarily funds general government operating accounts, not programs or grants, does not present a commitment to fiscal sustainability.”

 

In addition to the cost, Lewis and Emerson also stated concerns regarding controversial policy changes in the Financial Services bill – including those that relate to abortions, needle exchanges, and medical marijuana in the District of Columbia.

 

“I would hope that these concerns and any others can be dealt with in a normal, fair Appropriations process that allows Members the open opportunity to offer amendments to improve the legislation on the House Floor,” Lewis said.