Financial Services and General Government (FSGG) FY2021 Appropriations: Overview

Financial Services and General Government (FSGG) FY2021 Appropriations: Overview

Financial Services and General Government
October 5, 2021
(FSGG) FY2021 Appropriations: Overview
Baird Webel
The Financial Services and General Government (FSGG) appropriations bill includes funding for
Specialist in Financial
the Department of the Treasury, the Executive Office of the President, the judiciary, the District
Economics
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 FY2021 budget request on February 10, 2020. The request included a
total of $51.1 billion for agencies funded through the FSGG appropriations bill, including $304 million for the CFTC.
House action. The House Committee on Appropriations reported a Financial Services and General Government
Appropriations Act, 2021 (H.R. 7668; H.Rept. 116-456) on July 17, 2020. Approximate total FY2021 funding in the reported
bill was $114.7 billion. Of this, $67 billion was emergency spending to address the Coronavirus Disease 2019 (COVID-19)
pandemic, primarily funding for internet broadband infrastructure. Another $304 million for the CFTC was included in the
Agriculture appropriations bill (H.R. 7610; H.Rept. 116-446). The combined total of $115.0 billion was $63.9 billion larger
than the President’s FY2020 request due to the emergency funding. Comparing nonemergency funding, the approximate
combined total for FSGG funding in the House bills, $48 billion, was $3.1 billion less than the President’s request.
The text of H.R. 7668 was included as Division D of H.R. 7617 when that bill was considered on the House floor. H.R. 7617
was amended numerous times, primarily shifting funding among FSGG agencies but also increasing the total slightly through
an addition to the emergency spending. H.R. 7617 passed the House on July 31, 2020. Funding for the CFTC was included in
Division B of H.R. 7608, which passed the House on July 24, 2020.
Senate action. The Senate Appropriations Committee held one subcommittee hearing on the FY2021 budget request for an
FSGG agency, the Federal Communications Commission, but did not act on an FSGG appropriations bill at either the
subcommittee or the full committee level. On November, 10, 2020, the chairman of the committee released draft text and an
explanatory statement for an FSGG appropriations bill.
Continuing resolution. No full-year FY2021 appropriations measure was enacted prior to the end of September 2020.
Congress passed, and the President signed, five different continuing resolutions (P.L. 116-159, P.L. 116-215, P.L. 116-225,
P.L. 116-226, and P.L. 116-246) providing for appropriations through December 28, 2020, based largely on FY2020 levels.
In addition to the continuing provisions, P.L. 116-159 did provide an additional $13 million for the District of Columbia.
Full-year enactment. FSGG FY2021 appropriations were ultimately provided in P.L. 116-260, the Consolidated
Appropriations Act, 2021, passed by both House and Senate on December 21, 2020, and signed by the President on
December 27, 2020. Division E of P.L. 116-260 appropriated approximately $47.5 billion for FSGG agencies, including the
CFTC. This total did not include the emergency spending included in the House-passed version of the bill but did include $50
million for the National Archives and Records Administration.
Supplemental appropriations. In the 117th Congress, H.R. 3237 as passed by the House would have provided emergency
funding for the District of Columbia and the General Services Administration, but this funding was not included in the
enacted version (P.L. 117-31).
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. The FSGG bills do, however, often
contain additional legislative provisions relating to such agencies. President Trump’s budget request for FY2021 proposed
that Consumer Financial Protection Bureau funding be provided by congressional appropriations rather than by transfer from
the Federal Reserve, but this change was explicitly rejected in the House committee report and not included in the enacted
legislation.
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Contents
Administration and Congressional Action ....................................................................................... 1
Continuing Resolutions ............................................................................................................. 2
Full-Year FY2021 Appropriations ............................................................................................. 3
FSGG and Emergency Spending ..................................................................................................... 6
Financial Regulatory Agencies and FSGG Appropriations ............................................................. 7
Committee Structure and Scope ...................................................................................................... 8

Tables
Table 1. Status of FY2021 Financial Services and
General Government (FSGG) Appropriations ............................................................................. 3
Table 2. FSGG Appropriations, FY2020-FY2021 ........................................................................... 3
Table 3. FSGG Independent Agencies Appropriations, FY2020-FY2021 ...................................... 4

Contacts
Author Information .......................................................................................................................... 9

Congressional Research Service

Financial Services and General Government (FSGG) FY2021 Appropriations: Overview

he Financial Services and General Government (FSGG) appropriations bill includes
funding for the Department of the Treasury (Title I),1 the Executive Office of the President
T (Title II), the judiciary (Title III),2 the District of Columbia (Title IV), and more than two
dozen independent agencies (Title V). The bill typically funds mandatory retirement accounts in
Title VI, which also 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 upon enactment depends on
which chamber originated the law, which typically alternates annually. Thus, the enacted amounts
for the CFTC are typically in the Agriculture appropriations bill one year and the FSGG
appropriations bill the following year.
This structure has existed in its current form since the 2007 reorganization of the House and
Senate Committees on Appropriations. 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. However, it is not uncommon for
legislative provisions addressing various financial regulatory issues to be included in titles at the
end of the bill.
Administration and Congressional Action
President Trump submitted his FY2021 budget request on February 10, 2020. The requested
amount for agencies funded through the FSGG appropriations bill totaled approximately $51.1
billion, including $304 million for the CFTC.3
The House Committee on Appropriations reported a Financial Services and General Government
Appropriations Act, 2021 (H.R. 7668)4 on July 17, 2020.5 Approximate total FY2021 funding in
the reported bill was $114.7 billion. Of this amount, $67 billion was emergency spending to
address the Coronavirus Disease 2019 (COVID-19) pandemic contained in Title X, which would
have provided $61 billion for expansion of internet broadband through Federal Communications
Commission (FCC) grants and $6 billion for federal buildings through the General Services
Administration (GSA). Another $304 million for the CFTC was included in the Agriculture
appropriations bill (H.R. 7610).6 The combined total of $115 billion was $63.9 billion more than
the President’s FY2021 request due to the emergency funding. Comparing nonemergency

1 For more information, see CRS In Focus IF11607, Internal Revenue Service Appropriations, FY2021, by Gary
Guenther.
2 For more information, see CRS In Focus IF11534, Judiciary Budget Request, FY2021, by Barry J. McMillion.
3 The President’s budget does not total the requested amounts according to the congressional appropriations structure.
This total amount is as reported in H.Rept. 116-456.
4 This bill, and all others unless specifically noted, are from the 116th Congress.
5 U.S. Congress, House Committee on Appropriations, Financial Services and General Government Appropriations
Bill, 2021, report to accompany H.R. 7668, 114th Cong., 2nd sess., July 17, 2020, H.Rept. 116-456 (Washington: GPO,
2020).
6 U.S. Congress, House Committee on Appropriations, Agriculture, Rural Development, Food and Drug
Administration, and Related Agencies Appropriations Act, 2021, report to accompany H.R. 7610, 116th Cong., 2nd sess.,
July 13, 2020, H.Rept. 116-446 (Washington: GPO, 2020).
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Financial Services and General Government (FSGG) FY2021 Appropriations: Overview

funding, the approximate combined total for FSGG funding in the House bills, $48 billion, was
$3.1 billion less than the President’s request.
H.R. 7668 was included as Division D of H.R. 7617 when that bill was considered on the House
floor. H.R. 7617 was amended numerous times, shifting funding among FSGG agencies but not
changing the FSGG totals.7 H.R. 7617 passed the House on July 31, 2020.
The Senate Appropriations Committee held one subcommittee hearing on the FY2021 budget
request for an FSGG agency, the FCC, but did not act on an FSGG appropriations bill at either the
subcommittee or the full committee level. On November 10, then-Chairman Richard Shelby
released a draft bill and a draft explanatory statement in a press release indicating, “By and large,
these bills are the product of bipartisan cooperation among members of the committee.”8 Then-
committee Vice Chair Patrick Leahy released a statement indicating “disappointment” at the
absences of opportunities to amend the bills and indicating areas wherein he would seek
“improvements” in the drafts with further negotiations.9
Continuing Resolutions
With the end of FY2020 approaching and no full-year appropriations measure enacted to fund the
FSGG agencies (or the rest of the government), the House passed H.R. 8337, the Continuing
Appropriations Act, 2021 and Other Extensions Act, on September 22, 2020, and the Senate
followed on September 30, 2020. The President signed the bill, now P.L. 116-159, on October 1,
2020. This continuing resolution provided funding through December 11, 2020, based on the
FY2020 levels with a certain number of changes (known generally as anomalies).10 The
anomalies for the FSGG agencies are contained in Division A, Sections 129-139, and primarily
provide continuing funding for the District of Columbia, the Small Business Administration
(SBA), and various agencies involved in the presidential election and transition.11 Section 131
contained $13 million in additional FY2021 funding for “Emergency Planning and Security Costs
in the District of Columbia.”
Four additional continuing resolutions (P.L. 116-215, P.L. 116-225, P.L. 116-226, and P.L. 116-
246) were enacted, ultimately providing for appropriations through December 28, 2020, based
largely on FY2020 levels.

7 House-passed amendments to the FSGG portion (Division D) of H.R. 7617 were H.Amdt. 867 and H.Amdt. 868.
Both of these were en bloc amendments and included amendments numbered 194, 195, 196, 197, 198, 199, 200, 202,
203, 204, 205, 206, 208, 209, 210, 211, 212, 213, 215, and 216 in the report (H.Rept. 116-461) accompanying the rule
(H.Res. 1067) providing for the consideration of H.R. 7617.
8 See U.S. Congress, Senate Committee on Appropriations, “Committee Releases FY21 Bills in Effort to Advance
Process, Produce Bipartisan Results,” https://www.appropriations.senate.gov/news/committee-releases-fy21-bills-in-
effort-to-advance-process-produce-bipartisan-results/.
9 See U.S. Congress, Senate Committee on Appropriations, “Senate Approps Vice Chair Leahy Statement on the
Release of the FY 2021 Senate Appropriations Bills,” https://www.appropriations.senate.gov/news/minority/senate-
approps-vice-chair-leahy-statement-on-the-release-of-the-fy-2021-senate-appropriations-bills-/.
10 For a general overview of continuing resolutions, see CRS Report R46595, Continuing Resolutions: Overview of
Components and Practices, coordinated by Kevin P. McNellis.
11 For more complete information regarding P.L. 116-159, see CRS Report R46582, Overview of Continuing
Appropriations for FY2021 (P.L. 116-159), by James V. Saturno and Kevin P. McNellis.
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Full-Year FY2021 Appropriations
Full-year FY2021 FSGG appropriations were enacted on December 27, 2020, as Division E of
the Consolidated Appropriations Act, 2021 (P.L. 116-260/H.R. 133). Division E was included in
the measure during House consideration along with three other divisions on a vote of 327-85 on
December 21, 2021.12 The Senate completed passage of H.R. 133 including the complete
appropriations for FY2021 on December 21, 2021, following the House passage. P.L. 116-260 did
not include any of the emergency funding included in the initial House-passed H.R. 7617 but did
include $50 million for the Records Center Revolving Fund in the National Archives and Records
Administration. FSGG funding in P.L. 116-260 totaled approximately $47.5 billion, $3.6 billion
under the President’s request.
Table 1 below reflects the status of FY2021 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 various FSGG bills, and Table 3 details the amounts for the independent agencies.
Specific columns in Table 2 and Table 3 are FSGG agencies’ enacted amounts for FY2020, the
President’s FY2021 request, the FY2021 amounts from H.R. 7617 as it passed the House, the
Senate Committee majority draft, and the combined enacted amounts from P.L. 116-260 and P.L.
116-159.
Table 1. Status of FY2021 Financial Services and
General Government (FSGG) Appropriations
Subcommittee
Markup
Final Adoption
House
House
Senate
Senate
Conference
Enact-
House
Senate Report Passage
Report Passage
Report
House
Senate
ment
July 8,
July 17,
July 31,
Dec.
Dec.
Dec. 27,
2020
—
2020
2020
—
—
—
21,
21,
2020
2001
2001
Source: Prepared by the Congressional Research Service (CRS).
Table 2. FSGG Appropriations, FY2020-FY2021
(in millions of dollars)
FY2021
Senate
FY2021
Committee
FY2020
FY2021
House-
Majority
FY2021
Agency
Enacted
Request
Passed
Draft
Enacted
Department of the Treasury
13,323
16,120
13,421
13,079
13,413.3
Executive Office of the President
727
354
742
746
759.2
Judiciary
7,912
8,293
8,251
8,149
8,196.8
District of Columbia
719
753
762
714
747.5
Independent Agencies
65,985
3,221
69,425
2,040
1,977.9
Mandatory Retirement Accounts
21,911
22,389
22,389
22,389
22,388.6
Total
110,578
51,130
114,989
47,115
47,483.4

12 There were House votes on two amendments, each combining several appropriations bills.
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Sources: H.Rept. 116-456, H.R. 7617, Senate Appropriations Committee Majority Draft Explanatory Statement,
P.L. 116-159 and P.L. 116-260.
Notes: Totals may not sum due to rounding. Figures are net reflecting rescissions and offsetting col ections.
Totals for each column include funding for the Commodity Futures Trading Commission, which is funded in the
House through the Agriculture appropriations bil and in the Senate through the FSGG bil .
Rescissions from the Treasury’s Asset Forfeiture fund are contained in Title VI, Section 633, and are included in
the total for the Department of the Treasury.
The mandatory spending for the President’s salary is contained in Title VI, Section 619, whereas the rest of
presidential spending is in Title II.
The “Mandatory Retirement Accounts” amount stems from Title VI, Section 619.
The “Independent Agencies” total is primarily in Title V but also reflects funding or rescissions for the Public
Company Accounting Oversight Board scholarships, the Oversight.gov website (Inspectors General Council
Fund), and the Small Business Administration in Title VI, the Office of Personnel Management and the
Commission on Federal Naming and Displays in Title VII, and the emergency infrastructure spending in Title IX.
Table 3. FSGG Independent Agencies Appropriations, FY2020-FY2021
(in millions of dollars)
FY2021
Senate
Committee
FY2020
FY2021
FY2021
Majority
FY2021
Agency
Enacted
Request
House-Passed
Draft
Enacted
Administrative
3.3
3.5
3.5
3.3
3.4
Conference of the
United States
Commission on
—
—
1.5
—
—
Federal Naming and
Displays
Commodity Futures
315.0
304.0
304.0
304.0
304.0
Trading Commissiona
Consumer Product
132.5
135.0
137.0
131.2
135.0
Safety Commission
Election Assistance
840.2
13.1
520.1
12.8
17.0
Commission
Federal
200.0
(343.1)
61,040.0
(354.0)
(374.0)
Communications
Commissionb
Federal Deposit
(43.0)
(43.0)
(43.0)
(43.0)
(43.0)
Insurance Corporation:
Office of Inspector
Generalc
Federal Election
71.5
73.3
73.3
71.5
71.5
Commission
Federal Labor
24.9
28.4
26.1
25.0
26.6
Relations Authority
Federal Permitting
8.0
10.0
6.0
10.0
10.0
Improvement Steering
Council
Federal Trade
172.0
161.2
172.0
162.0
182.0
Commission
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FY2021
Senate
Committee
FY2020
FY2021
FY2021
Majority
FY2021
Agency
Enacted
Request
House-Passed
Draft
Enacted
General Services
-765.7
866.5
4,935.2
-804.3
-1,022.8
Administrationd
Harry S Truman
1.7
—
1.7
2.0
2.0
Scholarship Foundation
Inspectors General
1.0
—
—
0.9
0.9
Council Fund
(Oversight.gov)
Merit Systems
46.8
44.5
46.8
44.5
46.8
Protection Board
Morris K. Udal
5.0
5.0
5.0
5.0
5.0
Foundation
National Archives and
385.9
367.3
389.2
373.3
447.8
Records
Administratione
National Credit Union
1.5
—
2.0
—
1.5
Administration
Office of Government
17.5
18.6
18.6
18.6
18.6
Ethics
Office of Personnel
420.1
—
337.5
356.0
361.0
Management
(discretionary)
Office of Special
27.5
27.4
30.5
27.4
29.5
Counsel
Postal Regulatory
16.6
19.2
18.6
16.6
17.0
Commission
Privacy and Civil
8.2
8.5
8.5
8.5
8.5
Liberties Oversight
Board
Public Building Reform
—
3.5
3.5
3.5
3.5
Board
Public Company
1.0
-8.0
(1.0)
(1.0)
(0.9)
Accounting Oversight
Board Scholarships
Securities and
(1,825.5)
(1,926.2)
(1,951.3)
(1,926.2)
(1,926.2)
Exchange Commissionb
Selective Service
27.1
26.0
27.8
26.0
26.0
System
Small Business
63,680.5
739.0
944.4
909.2
921.7
Administration (SBA)
SBA Prior Year
-16.4
—
—
—
—
Rescission
United States Postal
56.7
55.3
57.3
27.0
55.3
Service (USPS) Fund
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Financial Services and General Government (FSGG) FY2021 Appropriations: Overview

FY2021
Senate
Committee
FY2020
FY2021
FY2021
Majority
FY2021
Agency
Enacted
Request
House-Passed
Draft
Enacted
USPS Office of
250.0
261.6
258.2
250.0
250.0
Inspector General
United States Tax
53.0
59.3
57.0
56.1
56.1
Court
Total: Independent
65,985.4
3,221.1
69,425.3
2,038.1
1,977.9
Agencies (net
discretionary)
Sources: H.Rept. 116-456, H.R. 7617, Senate Appropriations Committee Majority Draft Explanatory Statement,
P.L. 116-159 and P.L. 116-260.
Notes: All figures are rounded to the nearest $100,000. Columns may not sum due to rounding. Figures in
parentheses reflect offsetting col ections and are not totaled. The funding for these agencies is primarily in Title
V, but the table also reflects funding or rescissions for the Public Company Accounting Oversight Board
scholarships (Section 620), the Oversight.gov website (Inspectors General Council Fund, Section 631), the Small
Business Administration (Section 635), the Office of Personnel Management (Section 734), and the Commission
on Federal Naming and Displays (Section 754), as well as the emergency infrastructure spending in Title IX.
a. The Commodity Futures Trading Commission is funded in the House through the Agriculture
appropriations bil and in the Senate through the FSGG bil .
b. The Federal Communications Commission (FCC) and the Securities and Exchange Commission (SEC) are
funded by col ecting regulatory fees (or “offsetting col ections”), often resulting in no direct appropriations.
Therefore, the amounts shown for the FCC and the SEC represent budgetary resources, but those amounts
are usually not included in the table totals. In FY2021, however, the House-passed bil did include amounts
over the offsetting col ections for the FCC.
c. Budget authority transferred to the Federal Deposit Insurance Corporation’s Office of Inspector General is
not included in total FSGG appropriations. It is counted as part of the budget authority in the appropriation
account from which it came.
d. The General Services Administration’s (GSA’s) real property activities are funded through the Federal
Buildings Fund (FBF), a multibil ion-dol ar revolving fund into which federal agencies deposit rental payments
for leased GSA space. Congress makes the FBF revenue available each year to pay for GSA’s real property
activities. A negative total for the FBF occurs when the amount of funds made available for expenditure in a
fiscal year is less than the amount of new revenue expected to be deposited.
e. Amount as shown in the committee reports. Figures do not include appropriations for repayments of
principal on the construction of the Archives II facility. The amounts included in the President’s budget
request and the specific appropriations bil s include this principal repayment.
FSGG and Emergency Spending
FSGG appropriations are also frequently provided through supplemental appropriations bills in
addition to regular appropriations. This is particularly the case for the SBA, which plays a
significant role in recovery following disasters such as hurricanes. For example, in FY2020,
responding to the COVID-19 pandemic, Congress passed four different supplemental
appropriations bills (P.L. 116-123, P.L. 116-127, P.L. 116-136, and P.L. 116-139) containing
nearly $64 billion in emergency discretionary FSGG appropriations to address the pandemic, with
$63.7 billion of this total going to the SBA.13

13 In addition to these emergency discretionary appropriations, Congress provided approximately $697 billion in direct
appropriations outside of the FSGG structure in FY2020 for programs administered by the SBA, primarily the
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Financial Services and General Government (FSGG) FY2021 Appropriations: Overview

As mentioned above, the House-passed FY2021 bill (H.R. 7617) also included over $67 billion in
“emergency infrastructure investments to respond to the economic collapse related to the
coronavirus”14 contained in Title X. The bill would have provided $61 billion for expansion of
internet broadband through FCC grants and $6 billion for federal buildings through the GSA. As
enacted, P.L. 116-260 provided $50 million in emergency appropriations for the National
Archives and Records Administration.
In the 117th Congress, Title IV of H.R. 3237 as passed by the House would have provided
emergency discretionary FSGG funding for the judiciary, the District of Columbia, and the GSA,
but this funding was not included in the enacted version (P.L. 117-31).
Financial Regulatory Agencies and FSGG
Appropriations
Although financial services are a focus of the FSGG bill, the bill does not actually include
funding for the regulation of much of the financial services industry.15 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
Comptroller of the Currency, and the Bureau of Consumer Financial Protection (generally known
as the Consumer Financial Protection Bureau, or CFPB, which also has authorities over certain
nonbank financial institutions).16 In addition, credit unions, another type of depository that
operate similarly to many banks in most ways, are regulated by the National Credit Union
Administration (NCUA).17 None of these agencies receives its 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, which is funded through the Departmental Offices account, but the FIO has no
regulatory authority.18
Federal securities regulation is divided between the Securities and Exchange Commission (SEC)
and the CFTC, both of which are funded through appropriations.19 The CFTC funding is a

Paycheck Protection Program. In FY2021, such direct appropriations totaled approximately $379 billion. For more on
the SBA, see CRS Report RL33243, Small Business Administration: A Primer on Programs and Funding, by Robert
Jay Dilger; and CRS Report R43846, Small Business Administration (SBA) Funding: Overview and Recent Trends, by
Robert Jay Dilger.
14 H.Rept. 116-456, p. 3.
15 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.
16 For more information, see CRS In Focus IF10035, Introduction to Financial Services: Banking, by Raj Gnanarajah.
17 For more information, see CRS In Focus IF11713, Introduction to Financial Services: Credit Unions, by Darryl E.
Getter.
18 For more information, see CRS In Focus IF10043, Introduction to Financial Services: Insurance, by Baird Webel.
19 For more information, see CRS In Focus IF10032, Introduction to Financial Services: The Securities and Exchange
Commission (SEC), by Gary Shorter; and CRS In Focus IF10117, Introduction to Financial Services: Derivatives, by
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Financial Services and General Government (FSGG) FY2021 Appropriations: Overview

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,20 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.
President Trump’s FY2021 budget proposed that funding for the CFPB be restructured. In
FY2021, the CFPB’s funding through the Federal Reserve would be reduced, and then, going
forward from FY2022, funding would be provided by congressional appropriation from the
general fund.21 This proposed change was explicitly rejected in the House committee report and
was not included in House legislation nor in the enacted P.L. 116-260.22
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 FCC, the Federal Trade
Commission (FTC), the SEC, and the SBA.
In the Senate, the jurisdiction of the FSGG Subcommittee is a combination of agencies from the
jurisdiction of three previously existing subcommittees. Most of the agencies that had been under
the jurisdiction of the Transportation, Treasury, the Judiciary, and 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 109th 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

Rena S. Miller.
20 For more information, see CRS In Focus IF11715, Introduction to Financial Services: The Housing Finance System,
by Darryl E. Getter.
21 See Office of Management and Budget, Major Savings and Reforms, Fiscal Year 2021, p. 185,
https://www.whitehouse.gov/wp-content/uploads/2020/02/msar_fy21.pdf.
22 H.Rept. 116-456, p. 55.
23 The agencies previously under the jurisdiction of the House Appropriations Subcommittee on Transportation,
Treasury, Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies that did
not become part of the FSGG Subcommittee were the Department of Transportation (DOT), the Department of
Housing and Urban Development (HUD), the Architectural and Transportation Barriers Compliance Board, the Federal
Maritime Commission, the National Transportation Safety Board, the Neighborhood Reinvestment Corporation, and
the United States Interagency Council on Homelessness.
24 The agencies that did not transfer from the Senate Appropriations Subcommittee on Transportation, Treasury, the
Judiciary, and Housing and Urban Development, and Related Agencies to FSGG were DOT, HUD, the Architectural
and Transportation Barriers Compliance Board, the Federal Maritime Commission, the National Transportation Safety
Board, the Neighborhood Reinvestment Corporation, and the United States Interagency Council on Homelessness.
Congressional Research Service
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Financial Services and General Government (FSGG) FY2021 Appropriations: Overview

Subcommittee: the FCC, FTC, SEC, and SBA. As a result of this reorganization, the House and
Senate FSGG Subcommittees have nearly identical jurisdictions, except the CFTC is under the
jurisdiction of the FSGG Subcommittee in the Senate and the Agriculture Subcommittee in the
House.

Author Information

Baird Webel

Specialist in Financial Economics

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Congressional Research Service
R46621 · VERSION 3 · UPDATED
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