Appropriations Committee Approves Fiscal Year 2015 Financial Services Bill

Press Release

The House Appropriations Committee today approved the fiscal year 2015 Financial Services and General Government Appropriations bill on a vote of 28-21. The bill provides annual funding for the Treasury Department, the Judiciary, the Small Business Administration, the Securities and Exchange Commission, and several other agencies.

The bill totals $21.3 billion in funding for these agencies, which is $566 million below the fiscal year 2014 enacted level and $2.3 billion below the President's request for these programs. The legislation prioritizes programs critical to enforcing laws, maintaining an effective judiciary system, and helping small businesses, while targeting lower-priority or poor-performing programs -- such as the Internal Revenue Service -- for reductions.

"This bill reflects common-sense decisions to place priority on programs and services that are effective, efficient, and essential to the financial health of our nation and the federal government's service to our people," House Appropriations Chairman Hal Rogers said. "In order to make these investments and to be good stewards of each and every tax dollar, the bill focuses cuts on lower-priority or poor-performing agencies -- such as the scandal-plagued and inefficient Internal Revenue Service."

"The subcommittee jurisdiction covers a diverse group of agencies and activities, including financial regulators, tax collection, the White House, federal courts, the District of Columbia, the General Services Administration, and the Small Business Administration," Subcommittee Chairman Ander Crenshaw said. "With an allocation of $566 million less than fiscal year 2014, we have provided critical funding to support small businesses and law enforcement while reducing funding for activities that are not essential to the operations of the federal government or that have a history of wasting taxpayer resources. The bill also takes important steps to make the Administration, the Internal Revenue Service in particular, more transparent and accountable to the taxpayer," he continued.

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