House Appropriations Committee Markup: FY2026 Financial Services and Government Spending

FY2026 Financial Services and General Government Bill Markup

• 🏛️ The House Appropriations Committee convened to mark up the Financial Services and General Government (FSG) appropriations bill for fiscal year 2026.
• 💰 The proposed topline funding level for the FSG bill is $23.341 billion, a reduction of $410 million from the FY2025 allocation.

Key Priorities and Funding Allocations

• 🎯 The bill's drafting focused on three priorities: fiscal responsibility, leveraging new technology, and strengthening national security.
• 🏦 Funding for the Department of the Treasury is set at $11.3 billion, a 20.4% decrease from FY2025 enacted levels, including specific allocations for CFIUS, the Office of Terrorism and Financial Intelligence, and the CDFI Fund.
• 🏛️ The Executive Office of the President (EOP) is funded at $828 million, a 3.6% cut, with allocations for the Office of Management and Budget (OMB) and the High-Intensity Drug Trafficking Areas (HIDA) program.
• ⚖️ The federal judiciary receives funding for Supreme Court justices' personal security and court security, with provisions for cybersecurity and IT modernization.
• 🏛️ Federal payments to the District of Columbia are cut by 4.6% to $823 million, with $70 million allocated for emergency planning and security costs.
• 🏢 Independent agencies like the SEC, FTC, FCC, GSA, USPS, and SBA receive a total of approximately $1.5 billion, a 34.4% reduction.

Policy Provisions and Criticisms

• 📜 Titles six, seven, and eight include policy provisions such as pro-life protections, defunding climate rules, prohibiting mask and vaccine mandates, and codifying Trump-era executive orders.
• 📉 Ranking Member Hoyer criticized the bill for severely cutting funding and for policies he views as "you're on your own," particularly impacting DC's funding and potentially defunding the Metropolitan Police Department.
• 💰 Concerns were raised about cuts to the IRS enforcement budget, estimated to result in lost revenue, and reduced customer service for taxpayers.
• ⚖️ The bill's impact on agencies tasked with going after criminals and protecting financial systems was also debated, alongside criticisms of federal worker pay freezes and potential impoundment of funds.

Amendments and Floor Debate

• 🗳️ Several amendments were debated, including those concerning an Office of Inspector General for OMB, ESG criteria in credit ratings, election security grants, federal worker pay parity, preventing self-enrichment by the president, requiring body cameras for federal law enforcement in DC, restoring collective bargaining rights, and prohibiting funds for abortion care.
• 🗳️ An amendment to prohibit funds for DC to enforce shield laws related to abortion and gender transition services was adopted.
• 🗳️ An amendment to restore funding for the Affordable Connectivity Program (ACP) was debated and not adopted.
• 🗳️ Amendments related to election security, IRS funding, and DACA recipient eligibility for federal employment were also debated and not adopted.
• 🗳️ The committee ultimately voted to favorably report the FY2026 FSG appropriations bill to the House.