House Appropriations Legislation Includes Pay Raise for Federal Employees, Spending Boosts on Financial Security Programs

The House of Representatives Appropriations Subcommittee on Financial Services and General Government passed a bill on Monday which includes $24.55 billion in discretionary funding, an increase of $1.4 billion over the 2019 enacted funding levels and $355.5 million over the president’s 2020 budget request. The bill grants federal employees the largest pay raise in over 10 years and focuses on key funding for financial crimes divisions.

Under the legislation, federal employees would receive a 2.6 percent increase in basic rate of pay and an average locality pay increase of .5 percent.

“Federal employees earn less today than they did at the start of the decade, due to years of pay freezes and incremental adjustments that have failed to keep pace with inflation. Many agencies are struggling to recruit and retain employees due to noncompetitive salaries that lag private-sector standards,” American Federation of Government Employees National President J. David Cox. Sr. said in a statement to Federal Times.

“This pay raise is a critical investment in our government’s most valuable resource — its workers. It also maintains the decades-long principle of providing equal pay adjustments to the government’s civilian employees and service members, since it matches the 3.1 percent raise the Trump administration has proposed for the military next year.”

As a subcommittee focused on financial services, another priority was funding for the Department of Treasury and their law enforcement arms. The bill provides a total of $13.56 billion in discretionary appropriation for the department.

Of this number, $167.7 million is allocated for the Office of Terrorism and Financial Intelligence, an increase of $8.7 million above the 2019 enacted level.

Additionally, $124.7 million has been allocated for the Financial Crimes Enforcement Network, an increase of $6.9 million above 2019 enacted levels. Lawmakers hope this increase in funding will boost efforts to combat terrorist financing and money laundering.

The subcommittee rejected the president’s proposed four percent cut to the Inspector General offices for the Treasury Department, instead giving the office $234.4 million in total funding.

The IRS also saw a funding boost with $5.2 billion, an increase of $297 million, going toward enforcement.

The appropriations legislation passed the subcommittee by voice vote and has been sent to the full committee for markup.

Posted in Featured News


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