Financial Services and General Government and National Security, Department of State, and Related Programs Appropriations Act, 2026

Floor Speech

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Mr. LaLOTA. Mr. Chairman, Long Islanders face some of the highest tax burdens anywhere in the Nation.

At the same time, America, with our $38 trillion in debt, needs to start to freeze and cut spending wherever possible. When we deal with these financial issues, lawmakers in this body would be wise to protect important government services.

Thankfully, the fiscal year 2026 Financial Services and General Government bill, which is on the floor today, cuts spending by $140 million and sends a clear message that Washington is doing its part to ease, not add to, our tax and deficit burden, all while protecting important government services.

That is why I rise today in strong support of this bill.

As vice chair of FSGG, and under the strong leadership of Chairman Cole and Chairman Joyce, our subcommittee worked to deliver a disciplined funding package that addresses the real pressures facing families and businesses back home.

This legislation provides $26.5 billion in discretionary funding to support economic growth, protect individual liberties, and ensure the institutions upon which Americans rely work more effectively for them.

This bill strengthens our financial system and economic security. It responsibly funds the Department of the Treasury, including critical investments in cybersecurity, financial crimes enforcement, and oversight of our adversaries' investments.

It preserves community development funding to help small businesses and manufacturers on Long Island grow, create jobs, and strengthen supply chains without raising taxes.

This legislation also protects taxpayers by modernizing, not weaponizing, the IRS. It cuts excessive enforcement funding by more than $1 billion and prohibits the IRS from targeting Americans for exercising their First Amendment rights.

The bill also strengthens our defenses against foreign criminal networks. In addition to nearly $300 million for the High Intensity Drug Trafficking Areas program, the bill strengthens the Treasury's counterterrorism and financial intelligence efforts, cutting off funding streams used by cartels, traffickers, and foreign bad actors.

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Mr. LaLOTA. Mr. Chairman, the FY26 FSGG bill reflects the values Americans sent us here to uphold. I urge support of the bill, and I thank the chairman for his leadership.

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