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Tuesday, October 25, 2011

Financial Services and General Government: FY2012 Appropriations

Garrett Hatch
Analyst in American National Government

The Financial Services and General Government (FSGG) appropriations bill includes 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 14, 2011, President Obama issued his FY2012 budget request. The request included a total of $48.72 billion for agencies funded through the FSGG appropriations bill, including $308 million for the CFTC. The President’s request would increase funding $4.03 billion above FY2011 enacted amounts.

On April 14, 2011, the House and the Senate passed H.R. 1473, the Department of Defense and Full-Year Continuing Appropriations Act of 2011, which the President signed into law (P.L. 112- 10) the following day. The act provides $44.69 billion for FSGG agencies, including $203 million for the CFTC, for FY2011, a decrease of $1.74 billion below FY2010 enacted amounts.

On July 7, 2011, the House Appropriations Committee reported H.R. 2434, the Financial Services and General Government Appropriations Act, 2012. H.R. 2434 would provide $42.97 billion for agencies funded through the House FSGG Appropriations Subcommittee. In addition, the CFTC would receive $172 million through the FY2012 agriculture appropriations bill, H.R. 2112. Total FY2012 funding provided by the House would be $43.14 billion, about $5.58 billion below the President’s FY2012 request and $1.55 billion less than FY2011 enacted amounts. No further action has been taken by the House.

On September 15, 2011, the Senate Appropriations Committee reported its FY2012 financial services bill, S. 1573. The committee’s bill would provide $44.64 billion for FSGG agencies, including $240 million for the CFTC, for FY2012, which would be $4.09 billion below the President’s FY2012 request and $47.67 million less than FY2011 enacted amounts. No further action has been taken by the Senate.

On September 30, 2011, President Obama signed a continuing resolution, H.R. 2017 (P.L. 112- 33), that funded the government through October 4, 2011. On October 5, President Obama signed a second continuing resolution, H.R. 2608 (P.L. 112-36), that funds the government through November 18, 2011, at a rate of 1.503% below FY2011 enacted levels.

Date of Report: October 1
2, 2011
Number of Pages:
Order Number: R4
Price: $29.95

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