Durbin Unveils 2008 Financial Services, General Government Appropriations Bill

Press Release

Durbin Unveils 2008 Financial Services, General Government Appropriations Bill

United States Senator Dick Durbin (D-IL), Chairman of the Senate Appropriations Subcommittee on Financial Services and General Government, today unveiled the subcommittee's appropriations bill at the first mark-up for the new subcommittee. The bill covers $44.2 billion in overall spending, which is less than 1% greater than the President's budget request.

As Chairman of the Subcommittee, Durbin has budgetary oversight authority over a range of agencies in the Executive Branch (including the Offices of the President and Vice President,) the Federal Courts (including court security), the District of Columbia and a host of independent agencies, including the Consumer Product Safety Commission. The subcommittee also oversees much of the funding for the nation's financial services agencies, as well as the U.S. Treasury Department.

"This is a very transparent appropriations bill - shining a light on requests from Senators and the Bush Administration. Quite frankly, that is the way it should be," said Durbin. "This is a responsible spending bill that honestly addresses earmarks, forcing members to stand by their projects. The bill addresses a wide range of issues from increased funding for court security programs and meth prevention initiatives, to expanding the budget of the Consumer Product Safety Commission so they can better safeguard the public. We've made tough decisions, with tight funds, in the face of many worthy demands, and I'm proud of the bill we've crafted."

Durbin has been a leader on the issue of consumer protection. Over the past few months, he has urged for expanded authority for agencies like the Consumer Product Safety Commission (CPSC). In this bill, Durbin provides $70 million for CPSC, an increase of $7.2 million above last year and $6.8 million above the President's budget request. The increase in funding will also allow for hiring of needed employees in the areas of hazard identification and reduction, field operations and compliance, and funds for critically needed IT improvements. Both the House and Senate Appropriations subcommittees increased funding for CPSC above the President's request, with the Senate providing $70 million and the House funding at $66.8 million.

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