Joyce Remarks at FY26 Financial Services and General Government Bill Subcommittee Markup

July 21, 2025
Remarks

I would like to thank Chairman Cole and Ranking Member DeLauro for being here today. And of course, I would like to thank Ranking Member Hoyer. I value his insights on and off this Subcommittee.

I’m proud of the product we are marking up today.  This bill reflects the hard work of the Subcommittee over the last several months. 

Counting our Member day back in early March, we’ve held nine hearings, on top of the additional briefings to inform our work.

As you all know, the Financial Services and General Government, or FSGG, bill covers a broad swath of the federal government – including the Department of the Treasury, the Executive Office of the President, the Federal Judiciary, and more than 20 independent Commissions, Departments, and Agencies. 

The FSGG top line funding level for Fiscal Year 2026 is $23.341 billion - $410 million less than the Fiscal Year 2025 allocation. This number includes the disaster funding we provide to the Small Business Administration.

In drafting the Fiscal Year 2026 bill, I focused on three priorities:

  • Ensuring fiscal responsibility.
  • Leveraging new technology.
  • Strengthening national security.

These are priorities on which members on both sides of the aisle should agree and support.

I’ll take a moment to briefly describe the bill title by title.

Title I funds the Department of the Treasury at $11.3 billion – this is 20.4 percent lower than Fiscal Year 2025 enacted levels and 5.8 percent less than the bill we reported out of the full Committee last year. 

Within the Department of the Treasury, the bill funds:

  • The Committee on Foreign Investment in the United States at $21 million.
  • The Office of Terrorism and Financial Intelligence at $230.5 million.
  • The Community Development Financial Institutions Fund at $276.6 million.

Title 2 funds the Executive Office of the President or EOP.

Funding for the EOP is cut by 3.4 percent from Fiscal Year 2025 enacted levels to $830 million. Within the EOP, the bill funds 

  • The Office of Management and Budget (OMB) at $129 million. OMB as a reminder received $100 million in the reconciliation bill.
  • The Information Technology Oversight and Reform account (ITOR) at $10 million.
  • The High Intensity Drug Trafficking Area (HIDTA) program within the Office of National Drug Control Policy or ONDCP at $299 million and the Drug Free Communities’ Program at $136 million.

Title 3 of the bill funds the Federal Judiciary. Like Members of Congress, we need to ensure the security of our Supreme Court Justices, federal judges, and the people that work in our federal court system. 

The bill provides $18 million for the Supreme Court Justices personal security.

The bill fully funds court security at $892 million; and 

We ensure the Administrative Office of the United States Courts has the funding the court system needs to strengthen its cybersecurity and IT modernization efforts.

Moving on to Title 4, we cut federal funding to the District of Columbia by 4.6 percent from Fiscal Year 2025 enacted levels to $823 million.

Within this title, we cut $20 million from the Emergency Planning and Security Costs in D.C. account that were attributable to the inauguration this past January. 

However, we ensure the District of Columbia has sufficient funding at $70 million to address the security of public events in our nation’s capital during Fiscal Year 2026 for events like our country’s 250th anniversary celebration.

Title 5 funds our independent agencies. 

This includes the SEC, FTC, FCC, GSA, USPS, SBA, and our smaller agencies. Total funding for Title 5 is approximately $1.5 billion, which is a 34 percent reduction from Fiscal Year 2025 enacted levels.

Finally, this bill continues the important policies that apply across the federal government and the District of Columbia in Titles 6, 7, and 8.

Most of these provisions are legacy riders, which have been around for years if not decades. These provisions:

  • Reaffirm important pro-life protections.
  • Defund the disastrous Climate rule.
  • Stop the Biden-era divisive social policies.
  • Prohibit mask and vaccine mandates.
  • Protect traditional marriage.
  • Codify the REINS Act and other critical Executive Orders issued by President Trump, including:
    • “Eliminating Waste and Saving Taxpayer Dollars by Consolidating Procurement;”
    • “Restoring Common Sense to Federal Office Space Management;”
    • “Modernizing Payments to and From America’s Bank Account;” and
    • “Protecting America’s Bank Account from Waste, Fraud and Abuse”.

As I said at the beginning, I am proud of the work this Subcommittee has accomplished to date.

I would close by encouraging my colleagues on both sides of the aisle to support this important bill and I yield back.

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