Financial Services and General Government: FY2012 Appropriations (CRS Report for Congress)
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| Release Date |
Revised March 6, 2012 |
| Report Number |
R42008 |
| Report Type |
Report |
| Authors |
Garrett Hatch, Gary Guenther, Barbara L. Schwemle, Lorraine H. Tong, Eugene Boyd, Kevin J. Coleman, Wendy Ginsberg, Patricia Moloney Figliola, Darryl E. Getter, Gerald Mayer, R. Sam Garrett, Gary Shorter, David F. Burrelli, Robert Jay Dilger, Kevin R. Ko |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
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 submitted 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 have increased funding $4.03 billion above FY2011 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 have provided $42.97 billion for agencies funded through the House FSGG Appropriations Subcommittee. In addition, the CFTC would have received $172 million through the FY2012 agriculture appropriations bill, H.R. 2112. Total FY2012 funding provided by the House would have been $43.14 billion, about $5.58 billion below the President's FY2012 request and $1.55 billion less than FY2011 enacted amounts.
On September 15, 2011, the Senate Appropriations Committee reported its FY2012 financial services bill, S. 1573. The Senate committee's bill would have provided $44.64 billion for FSGG agencies, including $240 million for the CFTC, for FY2012, which would have been $4.09 billion below the President's FY2012 request and $47.67 million less than FY2011 enacted amounts.
On December 23, 2011, President Obama signed the Consolidated Appropriations Act, 2012 (P.L. 112-74), which funded the government through FY2012. FSGG agencies, including the CFTC, were provided a total of $44.41 billion for FY2012, which is $277 million below FY2011 funding levels and $4.31 billion less than the President's request.
