Financial Services and General Government Appropriations Act, 2015

Floor Speech

Mr. VAN HOLLEN. Mr. Chair, while I appreciate the Appropriations Committee's efforts to return to regular order, the Administration has issued a veto threat for this bill--and it's not hard to understand why.

While the bill does an adequate job funding the federal judiciary--as well as some important entrepreneurial initiatives at the Small Business Administration--virtually every other funding allocation and policy directive in this bill is either insufficient or misguided.

The Internal Revenue Service is funded at below sequestration levels, which will unquestionably hinder taxpayer assistance and undermine efforts to close the tax gap. The Securities and Exchange Commission charged with protecting investors and policing our financial markets is funded at $300 million below the President's request. And the Election Assistance Commission tasked with ensuring the integrity of our elections is eliminated altogether.

In addition to these funding decisions, H.R. 5016 contains policy riders hostile to the President's Climate Action Plan, the Affordable Care Act, women's reproductive health and standards governing the political activities of tax-exempt organizations. The independence of the Consumer Financial Protection Bureau would be terminated under this legislation.

Mr. Chair, this bill is wrong on funding and wrong on policy. I urge a no vote, and I yield back the balance of my time.

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