Chairman Rogers Statement on FY 2012 Financial Services and General Government Bill for Full Committee

Jun 23, 2011

"Thank you, Chairwoman Emerson and Ranking Member Serrano, for your remarks. We appreciate your hard work and bipartisan spirit on this Subcommittee.


"Today, we are considering the Fiscal Year 2012 Appropriations bill that funds our Financial Services and General Government programs and agencies. The $19.9 billion in funding included is nearly $2 billion less than last year, and nearly $6 billion below the President’s request. It’s safe to say that the Subcommittee and its staff have ensured that we have found real, responsible savings wherever possible in this bill.


"Many of the agencies and programs funded within this legislation can withstand reductions, and so we’ve returned funding levels to below the pre-stimulus, pre-bailout levels of 2008 – making the necessary steps to reduce spending to help get our budgets back into balance.


"In this process, we prioritized agencies and services that provide the greatest benefits to the American people, and those that are making the best use of taxpayer dollars. This legislation provides the important funding for essential programs across the government, creating opportunities for entrepreneurship, repair and recovery for those affected by disaster; combating the scourge of narcotics trafficking; and supporting antiterrorism and financial intelligence missions. 


"But facing a recovering economy, we must rein in deficits in order to create jobs and restore Americans’ confidence in their government and their businesses. Our citizens have asked us to balance our budgets and get our fiscal house in order. This means that we simply cannot afford to fund programs at the bloated, artificially high levels spurred by the stimulus, bailouts, and years of overspending.


"This bill makes smart, sensible reductions in nearly all areas. Where necessary, we have cut funding for ineffective and unproven programs, and have made strides to prevent taxpayer dollars from slipping through the cracks, lost to redundant or wasteful programs.

"This includes cutting excess spending to the IRS, limiting funds for the new Bureau of Consumer Financial Protection, and terminating the failed Home Affordable Modification Program and the flawed Consumer Product database, both which the House has already voted to eliminate.


"In addition, we’ve included important provisions to prevent government overreach in a variety of areas and to maintain comprehensive oversight of spending activities. For instance, no funds will go to several of the President’s non-elected and unaccountable “czars.”


"I want to congratulate Chairwoman Emerson and Ranking Member Serrano on producing a balanced and responsible bill. And I want to thank the Subcommittee and the staff for their hard work putting together this legislation. This bill exemplifies the commitment of this committee to making hard choices to complete our annual work, helping to dig our nation out of record debt, and reining in unnecessary agency interference to help our economy grow.


"I urge that the Committee promptly report this bill to the House."