Joyce Remarks at FY27 Financial Services and General Government Bill Subcommittee Markup (As Prepared For Delivery)

April 17, 2026
Remarks

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

First let me say once again that I appreciate the work this subcommittee did at the beginning of the year to get a Fiscal Year 2026 bill enacted. The bill we are marking up today builds on those efforts. The Financial Services and General Government, or FSGG, appropriations bill funds much of the federal government – including the Department of the Treasury, the Executive Office of the President, the Federal Judiciary, the District of Columbia, and more than 20 independent Commissions, Departments, and Agencies. 

The FSGG top line allocation for fiscal year 2027 is $25.4 billion – which includes $143 million in new disaster funding for the Small Business Administration. Without the disaster money, this bill cuts one billion dollars from the Fiscal Year 2026 enacted bill. 

This bill is also consistent with the President’s Fiscal Year 2027 budget request for FSGG, which proposes approximately $26 billion in new budget authority without the rescissions, budget authority cancellations, and fees it proposes.

Last year, I focused on three priorities in drafting our bill and report:

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

This year, the bill prioritizes the elimination of waste, fraud, abuse, and other improper payments in both the federal and state governments. These are priorities on which all 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 provides funding for the Department of the Treasury. The topline number for Treasury is $12 billion –a $1.1 billion or 8.3 percent cut from Fiscal Year 2026 enacted levels.

Within the Department of the Treasury, the bill:

  • Funds the Committee on Foreign Investment in the United States at $22 million, an increase of one million.
  • Holds the Office of Terrorism and Financial Intelligence constant at $238 million.
  • Cuts the Community Development Financial Institutions Fund to $276.6 million.
  • Cuts the IRS by 8.5 percent from fiscal year 2026 enacted levels to $10.2 billion.

Title 2 funds the Executive Office of the President or EOP. Funding for the EOP is $872 million, which is consistent with FY 26 enacted levels. 

Within the EOP, the bill:

  • Holds the Office of Management and Budget (OMB) constant at $129 million.
  • Holds the Information Technology Oversight and Reform account (ITOR) constant to $8 million.
  • Increases the High Intensity Drug Trafficking Area (HIDTA) program within the Office of National Drug Control Policy to nearly $300 million and increases the Drug Free Communities’ Program to $142 million to help support anti-doping efforts at the 28 Olympic Games in Los Angeles.

Title 3 of the bill funds the Federal Judiciary. Just as we do for the legislative and executive branches, we need to ensure the effective operations of our third branch of government, including physical and cybersecurity protections. Title 4 of the bill cuts federal funding to the District of Columbia by almost 10 percent to $792 million from Fiscal Year 2026 enacted levels. This includes a 50 percent cut to the Tuition Assistance Grant program and a more than 40 percent cut to the Emergency Planning and Security Costs account. 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 $2.2 billion, which is a 23 percent cut from Fiscal Year 2026 enacted. 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 

As I said at the beginning, I am proud of all the work this Subcommittee has accomplished to date. I would close by encouraging my colleagues on both sides of the aisle to support this bill and I yield back.

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