Joyce Remarks at FY25 Financial Services and General Government Bill Subcommittee Markup

I am pleased to present the Fiscal Year 2025 Financial Services and General Government Appropriations Bill today.

As Chairman of this subcommittee, I have worked diligently to ensure this bill provides the resources necessary to protect the integrity of our financial and judicial systems. At the same time, this bill reins in wasteful spending and takes steps to prevent agencies like the IRS from unfairly targeting hardworking Americans.

In total, the fiscal year 2025 bill provides $23.6 billion in non-defense discretionary spending, a $2 billion reduction from Fiscal Year 2024 enacted, and $45 million in defense spending.

The bill rejects $5 billion in discretionary funding increases within the President’s Budget Request. While the bill cuts $2 billion from the IRS, I would like to remind my colleagues that the IRS has over $40 billion in available resources from the Inflation Reduction Act.

The bill promotes the safety of the American people by enhancing drug interdiction activities and combatting fentanyl and other opioid overdoses.

It also prioritizes economic growth and limited government by pushing back on the Administration’s overbearing and costly agenda. It rolls back the Administration’s environment, social, and governance agenda by prohibiting funds for the Securities and Exchange Commission’s climate disclosure rule and prohibits agencies from funding climate change initiatives. And in an effort to increase oversight and fiscal responsibility, the bill brings the Consumer Financial Protection Bureau under the appropriations process.

I would like to thank all members of the subcommittee for their attention to this important piece of legislation, especially Ranking Member Hoyer.

I would also like to thank Chairman Cole and Ranking Member DeLauro for their support and allowing us to get our work done in a timely manner.