Appropriations Committee Approves Fiscal Year 2012 Financial Services Appropriations Bill

The House Appropriations Committee today approved the fiscal year 2012 Financial Services and General Government Appropriations bill. The legislation provides annual funding for the Treasury Department, the Executive Office of the President, the Judiciary, the District of Columbia, the Small Business Administration, the General Services Administration, the Securities and Exchange Commission, and several other independent agencies.

The bill includes a total of $19.9 billion in funding for the agencies, which is nearly $2 billion - or 9% - below last year's level, nearly $6 billion below the President's fiscal year 2012 request, and more than $700 million below the pre-stimulus, pre-bailout levels enacted in 2008.

"This bill makes smart, sensible reductions in nearly all areas. Where necessary, we have cut funding for ineffective and unproven programs, and have made strides to prevent taxpayer dollars from slipping through the cracks, lost to redundant or wasteful programs," House Appropriations Chairman Hal Rogers said.

"This legislation also prioritizes agencies and services that provide the greatest benefits to the American people – making the of most taxpayer dollars. The bill includes important funding for essential programs across the government – creating opportunities for entrepreneurship, providing for repair and recovery from unexpected disasters, combating the scourge of narcotics trafficking, and supporting antiterrorism and financial intelligence missions," Chairman Rogers continued.

"This bill is nine percent less than fiscal year 2011, 18 percent less than fiscal year 2010, and 22.5 percent less than the President's request. This reduction resulted in some very tough decisions, but they are necessary to reduce the Federal government's unsustainable level of spending," Subcommittee Chairwoman Jo Ann Emerson said.

For the text and report of legislation considered today by the Appropriations Committee, please visit:

http://appropriations.house.gov/UploadedFiles/FY_2012_FS_Full_xml.pdf and

http://appropriations.house.gov/UploadedFiles/FY_2012_FS_Full_xml.pdf

Summaries of the adopted amendments at the full committee mark up follow:

Emerson (R-MO) The Manager's amendment makes non-controversial and technical changes to the bill, and includes additional reporting language. The amendment was adopted on a voice vote.

McCollum (D-MN) The amendment prohibits the government from entering into contracts or agreements with any corporation that was convicted of a felony criminal violation under any Federal law within the preceding 24 months. The amendment was adopted on a voice vote.

McCollum (D-MN) The amendment prohibits funds for contracts or agreements with corporations with unpaid Federal tax liabilities that have not entered into payment agreements to remedy the liability. The amendment was adopted on a voice vote.

Womack (R-AR) The amendment prohibits funding for federal hires if the employee is not first verified through the E-Verify program. The amendment passed was adopted on a voice vote.

LaTourette (R-OH) The amendment would prohibit funding for the Consumer Product Safety Commission to regulate lead in bicycles. As there is little to no danger of children ingesting lead through children's bicycles, this regulation is a waste of taxpayer resources and an inconvenience for consumers. The amendment was adopted on a voice vote.

Austria (R-OH)/Yoder (R-KS) The amendment prohibits funding for the Federal Communications Commission (FCC) to remove conditions on or permit certain commercial broadband operations until the FCC has resolved concerns of harmful interference by these operations on Global Positioning System (GPS) devices. The amendment was adopted on a voice vote.

Diaz-Balart (R-FL) The amendment tightens regulations on family travel and remittances to Cuba, returning these policies to those that were in place during the Bush Administration. These changes to travel restrictions include: requiring specific licenses for family travel, tightening the definition of "family," and limiting travel to every three years for a time period of 14 days. The amendment would also limit family remittances to immediate family members, and limit the total to $300 for every quarter of the year. The amendment was adopted on a voice vote.

Flake (R-AZ) The amendment inserts report language regarding the Department of Treasury's Office of Foreign Asset Control (OFAC), related to Cuban Asset Control regulations. The amendment directs the office to provide a report on pending license applications related to education exchanges. The amendment was adopted on a voice vote

Final Passage The bill was approved by the full Appropriations Committee on a vote of 27-21.