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Friday, November 2, 2012

Financial Services and General Government: FY2013 Appropriations

Garrett Hatch, Coordinator
Specialist in American National Government

The Financial Services and General Government appropriations bill provides funding for the Department of the Treasury, the Executive Office of the President (EOP), the judiciary, the District of Columbia, and more than two dozen independent agencies. Among those independent agencies are the General Services Administration (GSA), the Office of Personnel Management (OPM), the Small Business Administration (SBA), the Securities and Exchange Commission (SEC), and the United States Postal Service (USPS). The Commodity Futures Trading Commission (CFTC) is funded in the House through the Agriculture appropriations bill and in the Senate through the FSGG bill. CFTC funding is included in all FSGG funding tables in this report.

On February 13, 2012, President Obama submitted his FY2013 budget request. The request included a total of $44.6 billion for agencies funded through the FSGG appropriations bill, including $308 million for the CFTC. The President’s request would increase funding $1.5 billion above FY2012 enacted amounts.

On June 20, 2012, the House Appropriations Committee reported H.R. 6020, the Financial Services and General Government Appropriations Act, 2013. H.R. 6020 would provide $42.4 billion for agencies funded through the House FSGG Appropriations Subcommittee. In addition, the CFTC would receive $180 million through the FY2013 agriculture appropriations bill. Total FY2013 funding provided by the House would be $42.5 billion, about $2.1 billion below the President’s FY2013 request and $560 million less than FY2012 enacted amounts.

On June 14, 2012, the Senate Appropriations Committee reported its FY2013 financial services bill, S. 3301. The Senate committee’s bill would provide $44.3 billion for FSGG agencies, including $308 million for the CFTC, for FY2013, which would be $337 million below the President’s FY2013 request and $1.2 billion more than FY2012 enacted amounts.

Because no regular FY2013 FSGG appropriations bill was enacted before October 1, 2012, Congress included funds for FSGG agencies in a continuing resolution (CR) for FY2013 (P.L. 112-175). For FSGG accounts, the CR generally continued funding through March 27, 2013, at a level that is .612% higher than the FY2012 enacted level.

Date of Report: October 22, 2012
Number of Pages: 90
Order Number: R42730
Price: $29.95

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