Financial Services and General Government
Subcommittee Chairman David Joyce (OH)
Ranking Member Steny Hoyer (MD)
2000 Rayburn House Office Building
(202) 225-7245
Majority | Minority |
|---|---|
| Rep. Dave Joyce (R-OH) – Chair | Rep. Steny Hoyer (MD) – Ranking Member |
| Rep. Steve Womack (R-AR) | Rep. Matt Cartwright (PA) |
| Rep. Mark Amodei (R-NV) | Rep. Mark Pocan (WI) |
| Rep. John Moolenaar (R-MI) | Rep. Sanford Bishop, Jr. (GA) |
| Rep. Ashley Hinson (R-IA) | Rep. Norma Torres (CA) |
| Rep. Michael Cloud (R-TX) | |
| Rep. Jerry Carl (R-AL) | |
| Rep. Chuck Edwards (R-NC) |
FY25 Member Day Hearing Instructions
Recent Activity
The Subcommittee will come to order. I'd like to remind everyone that we will follow the five-minute rule for opening remarks, questions, and comments. Members will be recognized in order of seniority based on who is seated at the beginning of the hearing rotating between the parties. Members that arrive after the gavel will be recognized in the order of arrival.
I would like to welcome everybody to the Subcommittee on Financial Services and General Government.
I would like to welcome back to the Subcommittee, Chair of the Federal Trade Commission, Lina Khan.
As we all know, Congress is locked in a fierce debate regarding the fiscal trajectory of our nation.
Thank you, Chairman Cole and Ranking Member McGovern, for allowing me to testify on the Limit, Save, Grow Act.
I want to start by thanking Speaker McCarthy, Leader Scalise, Ways and Means Chairman Smith, and Budget Chairman Arrington for their hard work on this bill.
I hope the President will come to the table and work with us to ensure our nation does not default on our debt.
I want to highlight one very straightforward idea included in this package: to rescind funds that are not needed at this time and redirect them to other priorities.
For example, as much as $60 billion that was appropriated more than two years ago for COVID remains unspent.
Now that the national emergency is officially over, we should be able to take back those resources.
There is also no reason for the IRS to be holding on to billions of dollars for future years.
The Subcommittee on Financial Services and General Government will come to order.
Good afternoon, everyone, and Chair Gensler, welcome back to the Subcommittee. My colleagues and I are looking forward to today's conversation with you.
The nation's economy remains in a precarious position. The banking sector is in a state of unrest, prices continue to be inflated due to excessive spending, and the country's debt is on an unsustainable trajectory. Yet, this Administration is proposing a budget that is more of the same.
Unfortunately, the SEC is following suit. The fiscal year 2024 budget request for the SEC is $265 million above fiscal year 2023 enacted levels which is a double-digit percentage increase.
Now, some will say, the SEC's budget is fully offset by transaction fees, but that is only part of the story, and it completely ignores how bloated our government has become.
The Subcommittee on Financial Services and General Government will come to order. Welcome to our first subcommittee hearing of the 118th Congress.
Appearing before the Subcommittee today is Treasury Secretary Janet Yellen and Office of Management and Budget Director Shalanda Young. Thank you for joining us this afternoon. We were looking forward to receiving testimony from Council of Economic Advisers Chair Cecilia Rouse but wish her well.
We are here today to discuss the Administration's Fiscal Year 2024 budget request and our Nation's economic outlook.
This hearing has not occurred in over a decade, and it could not be timelier as we are in the midst of great economic turmoil. It is of my opinion that the reckless spending and out-of-control regulatory expansion unleashed by President Biden and Democrats has pushed us into a recession. It has been anything but a transitory cycle.
WASHINGTON – Today, House Appropriations Chairwoman Kay Granger (TX) released the following statement in response to the Democrats' assumptions and speculations on spending cuts.
The Subcommittee on Financial Services and General Government will come to order. Welcome to our first subcommittee hearing of the 118th Congress.
Appearing before the Subcommittee today is Treasury Secretary Janet Yellen and Office of Management and Budget Director Shalanda Young. Thank you for joining us this afternoon. We were looking forward to receiving testimony from Council of Economic Advisers Chair Cecilia Rouse but wish her well.
We are here today to discuss the Administration's Fiscal Year 2024 budget request and our Nation's economic outlook.
This hearing has not occurred in over a decade, and it could not be timelier as we are in the midst of great economic turmoil. It is of my opinion that the reckless spending and out-of-control regulatory expansion unleashed by President Biden and Democrats has pushed us into a recession. It has been anything but a transitory cycle.
