Financial Services and General Government

First, I want to thank Chairman Womack for his work on the Fiscal Year 2024 Financial Services bill.

As I have said before, to fully fund our national defense, veterans, and border security, other unnecessary spending must be reduced.

This bill rejects significant increases in the President's Budget Request, and instead saves billions of dollars by reclaiming unspent funds from the Inflation Reduction Act and preventing the I.R.S. from hiring tens of thousands of new agents.

It is an honor to serve as Chairman of the Financial Services and General Government Subcommittee of the House Appropriations Committee. I want to thank my friend—Chairwoman Kay Granger—for giving me this opportunity. Thank you, also, to Ranking Member DeLauro for her commitment to the work of this committee. And to my Ranking Member, Steny Hoyer, thank you for your leadership and friendship through the years. It's a real privilege to work with you.

As we continue to move through markups, it is important to remember that this is not a normal funding year. Trillions of dollars were spent outside of the annual appropriations process during the last Congress, and we must re-evaluate our spending priorities.

Good morning, everyone. The Subcommittee will come to order.

This morning we will markup the Fiscal Year 2024 Financial Services and General Government appropriations bill.

I want to welcome all the Subcommittee Members to this morning's markup, including the distinguished Chair of the full House Appropriations Committee, Kay Granger, Ranking Member DeLauro, and Subcommittee Ranking Member Hoyer.