The Source

Financial Services, General Government Spending Bill Approved by House Subcommittee

On June 29, the House Appropriations Subcommittee on Financial Services and General Government approved, by voice vote, the FY2018 Financial Services and General Government spending bill (as-yet-unnumbered).

The bill provides annual funding for several agencies, including the Small Business Administration (SBA), as well as a federal payment to the District of Columbia. The measure would allocate $20.231 billion in FY2018, $1.284 billion below FY2017 and $2.483 billion below President Trump’s FY2018 budget request.

The SBA would receive $848 million in FY2018. This amount would provide funding for programs, such as Women’s Business Centers, the National Women’s Business Council, and Small Business Development Centers.

The District of Columbia would receive $695.6 million in FY2018, $60.7 million below the FY2017 allocation. The measure also would maintain the prohibition against using federal or local funds to provide abortion services in D.C.

Prohibitions against federal funding for abortions would be kept in place under the provisions of the bill. Multi-state qualified health plans would continue to be barred from using funds to provide abortion services; the legislation also would continue to ban the use of funds for abortions in the Federal Employee Health Benefits Program.

The legislation would prohibit the Internal Revenue Service from implementing the individual insurance mandate established in the Patient Protection and Affordable Care Act (P.L. 111-148), also known as Obamacare.

Additional details will be made available when the committee releases it report.