Contents

• Administration and Congressional Action
• Financial Regulatory Agencies and FSGG Appropriations
• Committee Structure and Scope

Summary

The Financial Services and General Government (FSGG) appropriations bill includes funding for the Department of the Treasury, the Executive Office of the President, the judiciary, the District of Columbia, and more than two dozen independent agencies. The House and Senate FSGG bills fund the same agencies, with one exception: The Commodity Futures Trading Commission (CFTC) is usually funded through the Agriculture appropriations bill in the House and the FSGG bill in the Senate.

President's budget. President Trump submitted his FY2026 discretionary budget request on May 2, 2025. The request, along with the mandatory spending in the bill, included a total of $31.5 billion for agencies funded through the FSGG appropriations bill. Of this, $410 million was for the CFTC.

House action. In the House, a Financial Services and General Government Appropriations Act, 2026 (H.R. 5166), was marked up in subcommittee on July 21, 2025; marked up in the full Appropriations Committee on September 3, 2025; and reported (H.Rept. 119-236) on September 5, 2025. Approximate total FY2026 funding in the reported bill would have been $46.8 billion, and another $335 million for the CFTC was included in an Agriculture appropriations bill (H.R. 4121; H.Rept. 119-172). The total of $47.2 billion would have been approximately $15.6 billion more than the President's FY2026 request for these combined agencies. The primary source of the difference was a $16.5 billion rescission of Internal Revenue Service (IRS) funding in the President's request, which was not included in H.R. 5166.

Senate action. In the Senate, a Financial Services and General Government Appropriations Act, 2026 (S. 3290), was introduced December 1, 2025, and not considered by the appropriations committee. Approximate total FY2026 funding in the introduced bill would have been $50.7 billion, including $365.0 million for the CFTC. This total was approximately $19.1 billion more than the President's FY2026 request. As in the case of H.R. 5166, the primary source of the difference was a $16.5 billion rescission of IRS funding in the President's request, which was not included in the introduced version of S. 3290. In addition, S. 3290 would have included $2.3 billion more in appropriations for the IRS than would have been included in H.R. 5166.

Funding lapse and continuing resolution. No full-year FSGG appropriations were enacted prior to the end of September 2025, and appropriations lapsed until a continuing resolution (CR; the Continuing Appropriations Act, 2026; Division A of P.L. 119-37) was enacted on November 12, 2025. This law provided funding for FSGG agencies, and the rest of the government, through January 30, 2026. While generally based on FY2025 spending levels, the CR specifically appropriated an additional $28 million for Supreme Court security. Funding lapsed again for a few days between January 30, 2026, and the enactment of full-year appropriations on February 3, 2026.

Full-year enactment. A bill (H.R. 7006) consolidating FSGG and the National Security, Department of State, and Related Program Appropriations passed the House on January 14, 2026. H.R. 7006 reflected bicameral and bipartisan negotiations, and a joint explanatory statement was placed into the record expressing congressional intent. The text of H.R. 7006 was then included in H.R. 7148, which was passed by the Senate on January 30, 2026, and the House on February 3, 2026. It was signed by the President as P.L. 119-75 the same day. Approximate total FY2026 funding for FSGG in the enacted bill was $50.1 billion, including $365 million for the CFTC. This was approximately $18.5 billion more than the President's FY2026 request. As in both initial bills, P.L. 119-75 did not include the $16.5 billion IRS rescission; its regular appropriations for the IRS were $642 million less than S. 3290, but $1.66 billion more than H.R. 5166.

Although financial services are a major focus of the FSGG appropriations bills, these bills do not include funding for many financial regulatory agencies, which are funded outside of the appropriations process. FSGG appropriations bills, however, have occasionally in the past contained additional legislative provisions related to such agencies, particularly with relation to the Consumer Financial Protection Bureau (CFPB), which has been funded outside of the appropriations process. None of the FY2026 bills, however, included such provisions, outside of provisions mandating CFPB reporting of budgetary requests to the Federal Reserve.

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The Financial Services and General Government (FSGG) appropriations bill includes funding for a wide variety of federal government functions and government-wide direction on usage of funds.¹ The bill funds

• the Department of the Treasury (Title I; $12.6 billion enacted in FY2026),²
• the Executive Office of the President (Title II; $873 million enacted in FY2026),³
• the judiciary (Title III; $9.73 billion enacted in FY2026),⁴
• the District of Columbia (Title IV; $878 million enacted in FY2026),⁵ and
• more than two dozen independent agencies (Title V; $2.82 billion enacted in FY2026; see Table 7 for a full list of agencies).

Title VI of the bill typically funds mandatory retirement accounts for the entire government and contains additional general provisions applying to the funding provided to agencies through the FSGG bill. Title VII typically contains general provisions that apply government-wide.

The House and Senate FSGG bills fund the same agencies, with one exception. The Commodity Futures Trading Commission (CFTC) is funded through the Agriculture appropriations bill in the House and the FSGG bill in the Senate. Where the CFTC is funded in the enacted law typically depends on which chamber originated the law, which normally alternates annually. Thus, the enacted amounts for the CFTC have historically been in the Agriculture appropriations bill one year and the FSGG appropriations bill the following year. When there is some form of consolidated bill, different divisions typically correspond to the different appropriations bills and the CFTC is funded in the division corresponding to FSGG or Agriculture appropriations. This structure has existed in its current form since the 2007 reorganization of the House and Senate Committees on Appropriations.⁶

Although financial services are a major focus of the FSGG appropriations bill, the bill does not include funding for many financial regulatory agencies, which are instead funded outside of the appropriations process.⁷ However, it is common for legislative provisions addressing various financial regulatory issues to be included in the bill.

Administration and Congressional Action

President Trump submitted his FY2026 discretionary budget request on May 2, 2025. The request, along with the mandatory spending in the FSGG bill, totaled $31.5 billion for agencies funded through the FSGG appropriations bill. This includes $410 million for the CFTC.⁸

In the House, a Financial Services and General Government Appropriations Act, 2026 (H.R. 5166), was marked up in subcommittee on July, 21, 2025;⁹ marked up in the full Appropriations Committee on September 3, 2025;¹⁰ and reported (H.Rept. 119-236) on September 5, 2025. Approximate total FY2026 funding in the reported bill would have been $46.8 billion. Another $335 million for the CFTC was included in an Agriculture appropriations bill (H.R. 4121; H.Rept. 119-172). The combined total of $47.2 billion would have been approximately $15.6 billion more than the President's FY2026 request. The primary source of the difference was a $16.5 billion rescission of Internal Revenue Service (IRS) funding in the President's request, which was not included in the House committee's bill.

No full-year FSGG appropriations were enacted prior to the end of September 2025, and appropriations lapsed¹¹ until a continuing resolution (CR; Division A of P.L. 119-37) was enacted on November 12, 2025, providing funding through January 30, 2026.¹² While generally continuing funding based on FY2025 levels, Division A contained a number of provisions changing the general funding or other provisions of the CR, known as "anomalies." Of particular note in the FSGG context was an additional $28 million specifically appropriated for Supreme Court security. (The full list of anomalies for the FSGG agencies can be found in the Appendix below.)

The Senate Financial Services and General Government Subcommittee released a draft bill and draft report on November 24, 2025.¹³ This was introduced as S. 3290 on December 1, 2025; no further committee action occurred on the bill. Approximate total FY2026 funding in S. 3290 would have been $50.7 billion, including $365 million for the CFTC. This total would have been approximately $19.1 billion more than the President's FY2026 request. As in the case of H.R. 5166, the primary source of the difference was a $16.5 billion rescission of IRS funding in the President's request, which was not included in S. 3290. In addition, S. 3290 would have included $2.3 billion more in appropriations for the IRS than was included in H.R. 5166.

The House of Representatives considered a bill (H.R. 7006) consolidating FSGG appropriations and the National Security, Department of State, and Related Program Appropriations, in January 2026, passing the bill on January 14, 2026. H.R. 7006 reflected bicameral negotiations,¹⁴ and a joint explanatory statement was placed into the record expressing congressional intent.¹⁵ The text of H.R. 7006 was then included in H.R. 7148, which was passed by the Senate on January 30, 2026, and the House on February 3, 2026. It was signed by the President as P.L. 119-75 the same day. Approximate total FY2026 funding in the enacted bill was $50.1 billion, including $365 million for the CFTC. This was approximately $18.5 billion more than the President's FY2026 request. As in both initial bills, P.L. 119-75 did not include the $16.5 billion IRS rescission; its regular appropriations for the IRS were $642 million less than S. 3290, but $1.66 billion more than H.R. 5166.

Table 1 below reflects the status of FY2026 FSGG appropriations measures at key points in the appropriations process. Table 2 lists, largely by title, the amounts requested by the President and included in the FSGG bills. Tables 3-7, respectively, detail the amounts for the Treasury, the Executive Office of the President, the judiciary, the District of Columbia, and the independent agencies. Specific columns in Tables 3-7 are FSGG agencies' enacted amounts for FY2025, the President's FY2026 request, the FY2026 amounts from H.R. 5166 as reported and S. 3290 as introduced, and the FY2026 enacted totals from P.L. 119-37 and P.L. 119-75.

Financial Regulatory Agencies and FSGG Appropriations

Although financial services are a focus of the FSGG bill, the bill does not include funding for the regulation of much of the financial services industry.¹⁶ Financial regulatory agencies can be broadly subdivided into groups that regulate depositories (primarily banks), insurance, securities, and housing finance. Federal regulation of the banking industry is divided among the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau (CFPB), which also has authorities over certain nonbank financial institutions and large credit unions.¹⁷ Credit unions—another type of depository which operate like banks in most ways—are primarily regulated by the National Credit Union Administration (NCUA).¹⁸ None of these agencies receives primary funding through the appropriations process, with only the FDIC inspector general and a small program operated by the NCUA currently funded in the FSGG bill.

Insurance is generally regulated at the state level, with some oversight at the holding company level by the Federal Reserve. There is a relatively small Federal Insurance Office (FIO) inside the Treasury that is funded through the Departmental Offices account. The FIO has no regulatory authority.¹⁹

Federal securities regulation is divided between the Securities and Exchange Commission (SEC) and the CFTC, both of which are funded through appropriations.²⁰ The CFTC funding is a relatively straightforward appropriation from the general fund, whereas the SEC funding is provided by the FSGG bill but then offset through fees collected by the SEC.

Housing finance, particularly the two large government-sponsored enterprises Fannie Mae and Freddie Mac, is overseen by the Federal Housing Finance Agency,²¹ which is funded primarily through assessments on regulated entities and receives no funding through the FSGG bill.

Although funding for many financial regulatory agencies may not be provided by the FSGG bill, legislative provisions affecting financial regulation in general—and some of these agencies specifically—have often been included in FSGG bills. This has particularly been the case for the CFPB, including language that would change the funding source and the leadership structure for the CFPB.²² For FY2026, however, such language was generally absent from the FSGG bills, with the exception of provisions mandating CFPB reporting of budgetary requests to the Federal Reserve.

Committee Structure and Scope

The House and Senate Committees on Appropriations reorganized their subcommittee structures in early 2007. Each chamber created a new Financial Services and General Government Subcommittee. In the House, the jurisdiction of the FSGG Subcommittee is composed primarily of agencies that had been under the jurisdiction of the Subcommittee on Transportation, Treasury, Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies, commonly referred to as TTHUD.²³ In addition, the House FSGG Subcommittee was assigned four independent agencies that had been under the jurisdiction of the Science, State, Justice, Commerce, and Related Agencies Subcommittee: the Federal Communications Commission (FCC), the Federal Trade Commission (FTC), the SEC, and the Small Business Administration (SBA).

In the Senate, the jurisdiction of the FSGG Subcommittee is a combination of agencies from the jurisdictions of three previously existing subcommittees. Most of the agencies that had been under the jurisdiction of the Transportation, Treasury, Judiciary, Housing and Urban Development, and Related Agencies Subcommittee were assigned to the FSGG Subcommittee.²⁴ In addition, the District of Columbia, which had its own subcommittee in the 109^th Congress, was placed under the purview of the FSGG Subcommittee, as were four independent agencies that had been under the jurisdiction of the Commerce, Justice, Science, and Related Agencies Subcommittee: the FCC, FTC, SEC, and SBA. As a result of this reorganization, the House and Senate FSGG Subcommittees have nearly identical jurisdictions except that the CFTC is under the jurisdiction of the FSGG Subcommittee in the Senate and the Agriculture Subcommittee in the House.

Appendix. FSGG Anomalies in the Continuing Appropriations Act, 2026 (Division A of P.L. 119-37)

Section 101—District of Columbia Federal Payment for Emergency Planning and Security Costs²⁵

Section 101 discontinued a proviso in Section 1602(4) of Division A of P.L. 119-4 that provided that $50 million of the additional $90 million provided under this heading for the District of Columbia be used to address costs associated with the 2025 presidential inauguration.

Section 135—Office of Personnel Management (OPM)—Salaries and Expenses²⁶

Section 135 changed the balance within the OPM salaries and expenses account between funding from general appropriations and funding transferred from retirement and insurance funds. Specifically, for the duration of the continuing resolution (CR), the general salaries and expenses were to be based on an annual amount of $197.4 million compared to the $219.1 million provided in Division B of P.L. 118-47, and the amount transferred for administrative expenses were to be based on an annual amount of $214.6 million compared to the $193.0 million provided in Division B of P.L. 118-47. The overall amount provided to OPM was unchanged.

Section 135—District of Columbia General Fund and Capital Budget²⁷

Section 136 granted congressional approval to the District of Columbia's general fund and capital budgets for FY2026. This approval was consistent with the requirement that Congress approve the District's annual budget under the District of Columbia Self-Government and Governmental Reorganization Act (P.L. 93-198). This provision granted the District the authority to expend locally raised funds for those programs and activities that received funding in the District's FY2024 appropriation. This provision also allowed District officials to obligate locally raised funds at the rate set forth in the District's "Fiscal Year 2026 Local Budget Act of 2025" (D.C. Law 26-51).

Section 137—Department of the Treasury Reception and Representation Limitations²⁸

Section 137 increased a limitation on Treasury spending for "official reception and representation expenses" from $0.35 million to $1.35 million.

Section 138—Small Business Administration (SBA) Loan Programs²⁹

Section 138 authorized the SBA to apportion funding provided by the CR at the rate necessary to meet demand for commitments for several of its lending programs, including general business loans authorized under paragraphs (1) through (35) of Section 7(a) of the Small Business Act,³⁰ guarantees of trust certificates authorized by Section 5(g) of the Small Business Act,³¹ commitments to guarantee loans under Section 503 of the Small Business Investment Act of 1958,³² and commitments to guarantee loans for debentures under Section 303(b) of the Small Business Investment Act of 1958.³³

Section 139—Department of the Treasury Office of Terrorism and Financial Intelligence³⁴

Section 139 allowed the Office of Terrorism and Financial Intelligence to operate at a rate of operations of $237.7 million. Without this anomaly, the account would have operated at a rate of operations of $226.9 million, the amount provided in FY2024.

Section 140—Pay Freeze for Certain Political Appointees³⁵

Section 140 continued, through January 30, 2026, the freeze on the payable pay rates for the Vice President and certain senior political appointees paid under the Executive Schedule and the Senior Executive Service at Section 747 of Title VII of Division B of P.L. 118-47, as in effect on September 30, 2024. The freeze did not affect the official rates for the Vice President and the Executive Schedule, which are adjusted under normally applicable law.

Section 141—Commodity Futures Trading Commission's (CFTC's) Whistleblower Authority³⁶

Section 141 extended the authority for the CFTC's whistleblower program through January 30, 2026. The program was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act to offer monetary incentives to individuals reporting potential violations of the Commodity Exchange Act while providing anti-retaliation protections for these whistleblowers. The CFTC reports that its whistleblower program has awarded approximately $390 million to whistleblowers since issuing its first award in 2014.³⁷

Section 142—CFTC Salaries and Expenses³⁸

Section 142 provided continuing funding in FY2026 for the CFTC under Financial Services and General Government appropriations. For FY2025, the funding was contained in the Agriculture appropriations act. (In the Senate, CFTC appropriations are under the Financial Services and General Government subcommittee, while in the House, they are under the Agriculture subcommittee, and the location of funding alternates every year.)

Section 143—Supreme Court Security³⁹

Section 143 appropriated an additional $28 million for the protection of Supreme Court Justices. This funding is available until expended.

Section 144—The Judiciary—Courts of Appeals, District Courts, and Other Judicial Services Defender Services⁴⁰

Section 144 allowed this account to operate at a rate of operations of $1.56 billion. Without this anomaly, the account would have operated at a rate of operations of $1.45 billion, the amount provided in FY2024.

Footnotes

1.	For a complete list of the CRS experts covering the various Financial Services and General Government (FSGG) agencies, see CRS Report R42638, Appropriations: CRS Experts, by James M. Specht and Justin Murray.
2.	For more information on Treasury or IRS appropriations, congressional requesters may contact Grant Driessen, CRS Acting Section Research Manager.
3.	For more information on appropriations for the Executive Office of the President, congressional requesters may contact Barbara L. Schwemle, CRS Analyst in American National Government.
4.	For more information on appropriations for the judiciary, congressional requesters may contact Barry J. McMillion, CRS Analyst in American National Government, and see CRS In Focus IF13011, Judiciary Budget Request, FY2026.
5.	For more information on District of Columbia appropriations, congressional requesters may contact Joseph V. Jaroscak, CRS Analyst in Economic Development Policy, and see CRS Report R48609, District of Columbia FY2025 Budget Status: In Brief.
6.	For more information, see CRS Report RL31572, Appropriations Subcommittee Structure: History of Changes from 1920 to 2025, by James V. Saturno.
7.	Examples include the Federal Reserve and the Office of the Comptroller of the Currency. See "Financial Regulatory Agencies and FSGG Appropriations" below. For more information, specifically on the Consumer Financial Protection Bureau (CFPB), see CRS Report R48295, The Consumer Financial Protection Bureau Budget: Background, Trends, and Policy Options, coordinated by Karl E. Schneider, and CRS Report R43391, Independence of Federal Financial Regulators: Structure, Funding, and Other Issues, by Henry B. Hogue, Marc Labonte, and Baird Webel.
8.	These totals calculated by CRS from H.Rept. 119-236 and the CFTC FY2026 Budget Request, p. 3, https://www.cftc.gov/sites/default/files/CFTC_FY2026_Presidents_Budget.pdf.
9.	House Committee on Appropriations, "Committee Releases FY26 Financial Services and General Government Bill," press release, July 20, 2025, https://appropriations.house.gov/news/press-releases/committee-releases-fy26-financial-services-and-general-government-bill.
10.	House Committee on Appropriations, "Committee Approves FY26 Financial Services and General Government Appropriations Act," press release, September 3, 2025, https://appropriations.house.gov/news/press-releases/committee-approves-fy26-financial-services-and-general-government.
11.	For general information on the effect of the lapse in appropriations, see CRS Report R47693, Government Shutdowns and Executive Branch Operations: Frequently Asked Questions (FAQ), coordinated by Taylor N. Riccard, and CRS Report R48832, The 2025 (FY2026) Government Shutdown: Economic Effects, by Lida R. Weinstock and Marc Labonte.
12.	For additional information on Division A of P.L. 119-37, see CRS Report R48765, Overview of Continuing Appropriations for FY2026 (Division A of P.L. 119-37), coordinated by Drew C. Aherne.
13.	Senate Committee on Appropriations, "Bill Text: Financial Services and General Government Act, 2026," press release, November 24, 2025, https://www.appropriations.senate.gov/news/majority/bill-text-financial-services-and-general-government-act-2026.
14.	House Committee on Appropriations, "House Passes H.R. 7006, Strengthening National Security, Protecting Economic Growth, and Restoring Regular Order," press release, January 14, 2026, https://appropriations.house.gov/news/press-releases/house-passes-hr-7006-strengthening-national-security-protecting-economic-growth.
15.	Representative Tom Cole, "Explanatory Statement Submitted by Mr. Cole, Chair of the House Committee on Appropriations, Regarding H.R. 7006, Financial Services and General Government and National Security, Department of State, and Related Programs," Congressional Record, vol. 172, part 10 (January 14, 2026), pp. H811-H855, https://www.congress.gov/119/crec/2026/01/14/172/10/CREC-2026-01-14.pdf.
16.	For a more complete discussion regarding the funding of financial regulators and general financial regulatory structure, see CRS Report R43391, Independence of Federal Financial Regulators: Structure, Funding, and Other Issues, by Henry B. Hogue, Marc Labonte, and Baird Webel; and CRS Report R44918, Who Regulates Whom? An Overview of the U.S. Financial Regulatory Framework, by Marc Labonte.
17.	For more information, see CRS In Focus IF10035, Introduction to Financial Services: Banking, by Raj Gnanarajah, and CRS Report R44918, Who Regulates Whom? An Overview of the U.S. Financial Regulatory Framework, by Marc Labonte.
18.	For more information, see CRS In Focus IF11713, Introduction to Financial Services: Credit Unions, by Darryl E. Getter.
19.	For more information, see CRS In Focus IF10043, Introduction to Financial Services: Insurance, by Baird Webel.
20.	For more information, see CRS In Focus IF11714, Introduction to Financial Services: The Securities and Exchange Commission (SEC), by Eva Su, and CRS In Focus IF10117, Introduction to Financial Services: Derivatives, by Rena S. Miller.
21.	For more information, see CRS In Focus IF11715, Introduction to Financial Services: The Housing Finance System, by Darryl E. Getter.
22.	For more information, see CRS Insight IN12409, Financial Services and General Government FY2025 Appropriations: CFPB's Funding and Structure Provisions, by Karl E. Schneider and David H. Carpenter.
23.	The agencies previously under the jurisdiction of the House TTHUD subcommittee that did not become part of the FSGG Subcommittee were the Department of Transportation, the Department of Housing and Urban Development, the Architectural and Transportation Barriers Compliance Board, the Federal Maritime Commission, the National Transportation Safety Board, the Neighborhood Reinvestment Corporation, and the U.S. Interagency Council on Homelessness.
24.	The agencies that did not transfer from the Senate Appropriations Subcommittee on Transportation, Treasury, the Judiciary, Housing and Urban Development, and Related Agencies to FSGG were the Department of Transportation, the Department of Housing and Urban Development, the Architectural and Transportation Barriers Compliance Board, the Federal Maritime Commission, the National Transportation Safety Board, the Neighborhood Reinvestment Corporation, and the U.S. Interagency Council on Homelessness.
25.	This section was authored by Joseph V. Jaroscak, Analyst in Economic Development Policy.
26.	This section was authored by Barbara L. Schwemle, Analyst in American National Government.
27.	This section was authored by Joseph V. Jaroscak, Analyst in Economic Development Policy.
28.	This section was authored by Baird Webel, Specialist in Financial Economics.
29.	This section was authored by Anthony Cilluffo, Analyst in Public Finance.
30.	15 U.S.C. §636(a). For more information, see CRS Report R41146, Small Business Administration 7(a) Loan Guaranty Program.
31.	15 U.S.C. §634(g). These trust certificates are related to the secondary market for loans guaranteed by the SBA.
32.	15 U.S.C. §697. For more information, see CRS Report R41184, Small Business Administration 504/CDC Loan Guaranty Program.
33.	15 U.S.C. §683(b). For more information, see CRS Report R41456, SBA Small Business Investment Company Program.
34.	This section was authored by Baird Webel, Specialist in Financial Economics.
35.	This section was authored by Barbara L. Schwemle, Analyst in American National Government.
36.	This section was authored by Rena S. Miller, Specialist in Financial Economics.
37.	Commodity Futures Trading Commission (CFTC), "CFTC Whistleblower Program," https://www.whistleblower.gov/.
38.	This section was authored by Baird Webel, Specialist in Financial Economics.
39.	This section was authored by Barry J. McMillion, Analyst in American National Government.
40.	This section was authored by Barry J. McMillion, Analyst in American National Government.