FY17 FSGG Subcommittee Markup Bill Summary

Statement

The fiscal year 2017 Financial Services and General Government (FSGG) Appropriations bill provides a total of $22.552 billion, including $159 million in disaster funds. This bill's discretionary funding level is $933 million less than fiscal year 2016 and more than $2.2 billion less than the President's request.

U.S. Senator Chris Coons (D-Del.), Ranking Member of the Financial Services and General Government Subcommittee, said:

"I commend Chairman Boozman for producing a relatively clean bill, free of new contentious policy riders and controversial authorizations. I appreciate that this bill addresses many agencies' pressing needs by providing resources at the level the President requested. However, I am profoundly disappointed that funding for some key regulatory agencies, notably the Commodity Futures Trading Commission, the Federal Communications Commission, and the Securities and Exchange Commission, falls far below the necessary levels, jeopardizing the ability of these agencies to vigorously protect markets, investors, and consumers from unscrupulous practices.

"While I will support advancing this bill so my colleagues and I can continue this important debate before the full committee, it is with notable reservation and reluctance given the inadequate resources for these important agencies. I look forward to working collaboratively with my colleagues, Republicans and Democrats, to keep this bill free of unrelated policy riders and consumer protection rollbacks as the appropriations process advances."

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