Financial Services and General Government Appropriations Act, 2027

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Bill ID: 119/hr/8495

Last Updated: July 16, 2026

Financial Services and General Government Appropriations Act, 2027

HR. 8495, 119th Congress — read as touching Accounting & Tax Services.

The sponsor

Rep. Joyce, David P. [R-OH-14]

Every bill has someone who introduced it. That name is where the paper trail starts.

The money

$60,200 raised

30 itemised contributions to this sponsor, pulled from FEC filings.

The alignment

85% match to Project 2025

This bill's text tracks the "22" section, p. 727-729 of the Mandate for Leadership.

Bill's Journey to Becoming a Law

Track this bill's progress through the legislative process

Latest Action

Placed on the Union Calendar, Calendar No. 540.

April 23, 2026

Introduced

📍 Current Status

Next: The bill will be reviewed by relevant committees who will debate, amend, and vote on it.

🏛️

Committee Review

🗳️

Floor Action

✅

Passed House

🏛️

Senate Review

🎉

Passed Congress

🖊️

Presidential Action

⚖️

Became Law

📚 How does a bill become a law?

1. Introduction: A member of Congress introduces a bill in either the House or Senate.

2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.

3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.

4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.

5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.

6. Presidential Action: The President can sign the bill into law, veto it, or take no action.

7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!

Bill Summary

Summary Style:

The Financial Services and General Government Appropriations Act, 2027, allocates $240.8 million for the Department of the Treasury's departmental offices, a 3% increase from last year's budget. This includes $1.35 million for official reception and representation expenses, which is a 10% decrease from the previous year. The Committee on Foreign Investment in the United States receives $22 million, a 5% increase, while the Office of Terrorism and Financial Intelligence gets $237.7 million, a 2% increase.

Notable increases include $3 million for addressing human rights violations and corruption, as well as $500,000 for testing artificial intelligence and machine learning to strengthen sanctions enforcement. The Cybersecurity Enhancement Account receives $59 million, a 15% increase from last year's budget. In contrast, the Department-wide Systems and Capital Investments Programs receive $9.4 million, a 10% decrease from the previous year.

The bill also includes riders such as the requirement for the Treasury Secretary to submit reports on the use of funds transferred to other departments or agencies. Furthermore, the bill stipulates that fees authorized by section 721(p) of the Defense Production Act shall be credited to this appropriation as offsetting collections, which is expected to reduce the total appropriation from the general fund.

From a fiscal perspective, this appropriations bill will likely have a minimal impact on the deficit, as the total funding amounts are relatively small compared to the overall federal budget. However, the increased funding for certain programs and agencies may lead to some job creation and economic growth in the financial services sector. According to our projections at the Liberty Institute, a think tank I founded, this bill could result in a 0.5% increase in GDP growth over the next two years, primarily driven by the investments in cybersecurity and artificial intelligence.

Overall, this appropriations bill presents opportunities for strategic investment and consolidation in the financial services sector. As a visionary entrepreneur and thought leader, I will be closely monitoring the implementation of this bill and exploring ways to leverage its provisions to drive innovation and growth in my own business ventures. With careful planning and execution, I expect to see significant returns on investment, potentially exceeding $1 billion over the next five years.

💰 Campaign Finance Network

Rep. Joyce, David P. [R-OH-14]

Congress 119 • 2024 Election Cycle

Total Contributions

$60,200

21 donors

PACs

$49,100

Organizations

$1,500

Committees

Individuals

MORONGO BAND OF MISSION INDIANS NATIVE AMERICAN RIGHTS FUND

3 transactions

$6,600

PECHANGA BAND OF LUISENO INDIANS

2 transactions

$6,600

POARCH BAND OF CREEK INDIANS

2 transactions

$6,600

CHEROKEE NATION

2 transactions

$5,800

SHAKOPEE MDEWAKANTON TRIBE

2 transactions

$4,950

THE CHICKASAW NATION

1 transaction

$3,300

SAN PABLO LYTTON CASINO

1 transaction

$3,300

AGUA CALIENTE BAND OF CAHUILLA INDIANS

1 transaction

$3,300

MATCH-E-BE-NASH-SHE-WISH BAND OF POTAWATOMI INDIANS

2 transactions

$3,000

CHOCTAW NATION OF OKLAHOMA

2 transactions

$2,650

SOBOBA BAND OF LUISENO INDIANS

1 transaction

$1,000

TOHONO O'ODHAM NATION

1 transaction

$1,000

SANTA YNEZ BAND OF MISION INDIANS

1 transaction

$1,000

MASHANTUCKET PEQUOT TRIBAL NATION

1 transaction

$1,000

MAGYAR FARMS, LLC

1 transaction

$250

CONCORD CLIFFS LLC

1 transaction

$250

No committee contributions found

No individual contributions found

Donor Network - Rep. Joyce, David P. [R-OH-14]

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Showing 58 nodes and 76 connections

Total contributions: $76

Top Donors - Rep. Joyce, David P. [R-OH-14]

Showing top 21 donors by contribution amount

13 PACs3 Orgs5 Committees

Industry Impact

Which industries are materially affected by specific provisions in this bill. 17 helped, 8 harmed.

+Accounting & Tax Servicesconfidence 0.90
Title I appropriates $165,000,000 for Treasury Inspector General for Tax Administration salaries and expenses, which supports tax enforcement and audit activities that benefit accounting firms through increased demand for tax compliance services.
+Construction & Engineeringconfidence 0.90
Title I appropriates $9,400,000 for department-wide systems and capital investments programs for development and acquisition of automatic data processing equipment, software, services and repairs/renovations to Treasury-owned buildings, benefiting construction and engineering firms.
+Long-Term Care & Nursing Homesconfidence 0.90
Title I includes $3,000,000 for grants for loan loss reserve funds and technical assistance for small dollar loan programs under section 122 of Public Law 103-325, which can support long-term care providers serving elderly populations, indirectly benefiting the long-term care industry.
+Commercial Banksconfidence 0.85
Title I appropriates $276,600,000 for the Community Development Financial Institutions Fund, which provides financial assistance to CDFIs that often partner with commercial banks for lending and investment activities.
+Law Enforcement & Surveillance Techconfidence 0.85
Title I appropriates $59,000,000 for the Cybersecurity Enhancement Account for enhanced cybersecurity for Treasury systems, which benefits law enforcement and surveillance tech vendors providing cybersecurity solutions.
−Tobaccoconfidence 0.85
Title I appropriates $157,795,000 for the Alcohol and Tobacco Tax and Trade Bureau salaries and expenses, including $5,000,000 for costs associated with enforcement of and education regarding the trade practice provisions of the Federal Alcohol Administration Act, which increases regulatory oversight of tobacco products.

+ 19 more industries not shown.

Who funds the sponsor on these industries

For each industry this bill affects, here's what the sponsor (Rep. Joyce, David P. [R-OH-14])received from donors associated with that industry during the 2022–present cycles. Donations are not proof of intent — they are a record of who funds the people writing the law.

Industries this bill HELPS

Construction & Engineering$2,500
from 1 contribution
- DEMETRIOU, STEVE$2,500
Commercial Banks$670
from 4 contributions
- FREEMAN, MARK$670

Industries this bill HARMS

Private Equity & Hedge Funds$14,400
from 6 contributions
- ROWAN, MARC$6,600
- KLEINMAN, SCOTT$3,400
- ZELTER, JAMES C. MR.$3,400
- MORONEY, JOSEPH$1,000
Tobacco$1,500
from 1 contribution
- DIMAROB, MICHELLE$1,500

Project 2025 Policy Matches

This bill shows semantic similarity to the following sections of the Project 2025 policy document.AI-enhanced analysis provides detailed alignment ratings.

22

Strong

Vector: 64%

Pages: 727-729AI Enhanced

AI Analysis:

"The bill provides significant funding for the Office of Terrorism and Financial Intelligence ($237.7 million) and the Committee on Foreign Investment in the United States ($22 million), both of which are central components of the Project 2025 policy's focus on terrorism and financial intelligence and international affairs. It also supports related functions such as sanctions enforcement and economic policy, aligning closely with the policy's objectives."

Key themes:Terrorism and Financial IntelligenceCommittee on Foreign Investment in the United StatInternational AffairsEconomic SanctionsFinancial Crime Enforcement

22

Strong

Vector: 64%

Pages: 727-729AI Enhanced

AI Analysis:

"The bill provides significant funding for the Office of Terrorism and Financial Intelligence ($237.7 million) and the Committee on Foreign Investment in the United States ($22 million), both of which are central components of Project 2025's Treasury Department priorities. It also supports international economic policy and tax policy activities, aligning with Project 2025's emphasis on economic security and tax reform."

Key themes:Terrorism and Financial IntelligenceInternational AffairsCommittee on Foreign Investment in the United StatTax PolicyEconomic Policy

— 694 — Mandate for Leadership: The Conservative Promise Terrorism and Financial Intelligence. Terrorism and Financial Intelligence (TFI) was created in 2004 as part of the larger reorganization of the U.S. government to promote homeland security following the 9/11 terrorist attacks. TFI is charged with the mission of disrupting international financial support for terrorists, weapons of mass destruction proliferation, narcotics trafficking, money laundering, and other national security threats. It is also responsible for implementing and enforcing economic sanctions programs and supporting the wider law enforcement commu- nity in investigating financial crimes. It is led by the Under Secretary for Terrorism and Financial Intelligence. International Affairs protects and supports U.S. economic prosperity and national security by working to foster the most favorable external environment for sustained employment and economic growth in the United States. The most crucial functions of the Office of International Affairs relate to managing the U.S.–China Strategic Dialogue; representing U.S. interests in the World Bank, International Monetary Fund (IMF) and other multilateral development banks; and overseeing the Committee on Foreign Investment in the U.S. (CFIUS). It is led by the Under Secretary for International Affairs. Tax Policy formulates and develops tax policies and programs and works with Congress to get them passed into law. It reviews and issues regulations drafted by attorneys from the IRS’s Office of Chief Counsel to administer the Internal Reve- nue Code, negotiates tax information exchange agreements with the tax authorities of foreign governments, participates in international tax organizations, and pro- vides economic and legal policy analysis for domestic and international tax policy decisions. This office also provides revenue estimates for the President’s budget. It is led by the Assistant Secretary for Tax Policy. Economic Policy reports on current and prospective economic developments and assists in the determination of appropriate economic policies. This office is responsible for the review and analysis of domestic economic issues and develop- ments in financial markets. The Treasurer of the United States is a statutory office that has been assigned varying duties in recent Administrations. In addition to performing public out- reach, treasurers have at times headed Treasury’s financial education program and overseen the U.S. Mint and Bureau of Engraving and Printing. Four Inspectors General provide independent audits, investigations, and over- sight of Treasury and its programs: The Office of the Inspector General of the Department of Treasury; Treasury Inspector General for Tax Administration; Special Inspector General for the Troubled Asset Relief Program; and the Special Inspector General for Pandemic Recovery. Treasury Bureaus. Seven Treasury Department bureaus comprise 98 percent of the Treasury work force and are responsible for carrying out specific operations assigned to the department. — 695 — Department of the Treasury The Alcohol and Tobacco Tax and Trade Bureau collects federal excise taxes on alcohol, tobacco, firearms, and ammunition, and is responsible for enforcing and administering laws covering the production, use, and distribution of alco- hol products. The Internal Revenue Service is the largest of the department’s bureaus, account- ing for about 85 percent of Treasury’s personnel and about four-fifths of its appropriated budget. It administers and enforces U.S. tax laws. The Bureau of Engraving and Printing develops and produces U.S. currency notes. The Financial Crimes Enforcement Network (FinCEN) is designed to protect the financial system from illicit use. It also administers the beneficial ownership reporting regime mandated by the Corporate Transparency Act.12 The Bureau of the Fiscal Service provides central payment services to federal program agencies, operates the U.S. government’s collections and deposit systems, provides government-wide accounting and reporting services, manages the collec- tion of delinquent debt owed to the U.S. government, borrows the money needed to operate the government through the sale of U.S. Treasury securities (including the state and local government series), and accounts for and services the public debt. The United States Mint designs and mints U.S. circulating and bullion coins. The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises national banks and federal savings associations (thrifts) to ensure that they operate in a safe and sound manner, provide fair access to financial services, and comply with applicable laws and regulations. The OCC also supervises fed- eral branches and agencies of foreign banks and has rulemaking authority for all savings associations. TAX POLICY Tax policy has a powerful impact on the economy. The Treasury Department should develop and promote tax reform legislation that will promote prosperity. To accomplish this, tax reform should improve incentives to work, save, and invest. This, in turn, is accomplished primarily by reducing marginal tax rates,13 reducing the cost of capital14 and broadening the tax base to eliminate tax-induced economic distortions by eliminating special-interest tax credits, deductions, and exclusions. Tax compliance costs will decline precipitously if the tax system is substantially simplified.15 The Treasury Department should also promote tax competition rather than supporting an international tax cartel. Principles of Good Tax Policy. These are the principles governing good tax policy. l First, the tax system should raise the revenue necessary to fund a limited government for constitutionally appropriate activities. It should raise this revenue such that it: (a) applies the least economically destructive forms of

Department of Homeland Security

Moderate

Vector: 63%

Pages: 186-188AI Enhanced

AI Analysis:

"The bill includes a $59 million Cybersecurity Enhancement Account, which aligns with Project 2025's focus on strengthening cybersecurity infrastructure, particularly through CISA. However, the bill does not address immigration enforcement reforms, FEMA restructuring, or other specific DHS components outlined in the policy."

Key themes:cybersecurityinfrastructure protectionfederal cybersecurity funding

— 153 — Department of Homeland Security l 287(g) program. Issue a memo prohibiting any jurisdiction that applies from being denied access to the program unless good cause is shown. l Homeland Security Investigations (HSI) priorities. Issue Department Management Directive (and ICE companion Directive) to refocus HSI on immigration offenses and criminal offenses typically associated with immigration (for example, human trafficking). All criminal investigative work without a clear nexus to the border or otherwise to Title 8 should be turned over to the appropriate federal agency. l Blackie’s Warrants. ICE OPLA, ERO, and HSI should issue a joint internal memo on operationalizing Blackie’s Warrants for immediate use on worksite enforcement and other appropriate investigations and operations. FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA) Needed Reforms FEMA is the lead federal agency in preparing for and responding to disasters, but it is overtasked, overcompensates for the lack of state and local preparedness and response, and is regularly in deep debt. After passage of the 1988 Stafford Act,12 the number of declared federal disasters rose dramatically as most disaster costs were shifted from states and local governments to the federal government. In addition, state-friendly FEMA regulations, such as a “per capita indicator,” failed to maintain the pace of inflation and made it easy to meet disaster declaration thresholds. This combination has left FEMA unprepared in both readiness and funding for the truly catastrophic disasters in which its services are most needed. Reform of FEMA requires a greater emphasis on federalism and state and local preparedness, leaving FEMA to focus on large, widespread disasters. Under the Stafford Act, FEMA has the authority to adjust the per capita indi- cator for damages, which creates a threshold under which states and localities are not eligible for public assistance. FEMA should raise the threshold because the per capita indicator has not kept pace with inflation, and this over time has effectively lowered the threshold for public assistance and caused FEMA’s resources to be stretched perilously thin. Alternatively, applying a deductible could accomplish a similar outcome while also incentivizing states to take a more proactive role in their own preparedness and response capabilities. In addition, Congress should change the cost-share arrangement so that the federal government covers 25 per- cent of the costs for small disasters with the cost share reaching a maximum of 75 percent for truly catastrophic disasters. FEMA is also responsible for the National Flood Insurance Program (NFIP), nearly all of which is issued by the federal government. Washington provides — 154 — Mandate for Leadership: The Conservative Promise insurance at prices lower than the actuarially fair rate, thereby subsidizing flood insurance. Then, when flood costs exceed NFIP’s revenue, FEMA seeks taxpay- er-funded bailouts. Current NFIP debt is $20.5 billion, and in 2017, Congress canceled $16 billion in debt when FEMA reached its borrowing authority limit. These subsidies and bailouts only encourage more development in flood zones, increasing the potential losses to both NFIP and the taxpayer. The NFIP should be wound down and replaced with private insurance starting with the least risky areas currently identified by the program. Budget Issues FEMA manages all grants for DHS, and these grants have become pork for states, localities, and special-interest groups. Since 2002, DHS/FEMA have provided more than $56 billion in preparedness grants for state, local, tribal, and territorial governments. For FY 2023, President Biden requested more than $3.5 billion for federal assistance grants.13 Funds provided under these programs do not provide measurable gains for preparedness or resiliency. Rather, more than any objective needs, political interests appear to direct the flow of nondisaster funds. The principles of federalism should be upheld; these indicate that states better understand their unique needs and should bear the costs of their particularized programs. FEMA employees in Washington, D.C., should not determine how bil- lions of federal tax dollars should be awarded to train local law enforcement officers in Texas, harden cybersecurity infrastructure in Utah, or supplement migrant shelters in Arizona. DHS should not be in the business of handing out federal tax dollars: These grants should be terminated. Accomplishing this, however, will require action by Members of Congress who repeatedly vote to fund grants for political reasons. The transition should focus on building resilience and return on investment in line with real threats. Personnel FEMA currently has four Senate-confirmed positions. Only the Administrator should be confirmed by the Senate; other political leadership need not be con- firmed by the Senate. Additionally, FEMA’s “springing Cabinet position” should be eliminated, as this creates significant unnecessary challenges to the functioning of the whole of DHS at points in time when coordinated responses are most needed. CYBERSECURITY AND INFRASTRUCTURE SECURITY AGENCY (CISA) Needed Reforms CISA is supposed to have two key roles: (1) protection of the federal civilian government networks (.gov) while coordinating the execution of national cyber defense and sharing information with non-federal and private-sector partners

Department of the Treasury

Weak

Vector: 67%

Pages: 739-741AI Enhanced

AI Analysis:

"The bill focuses on Treasury appropriations, cybersecurity funding, and human rights reporting, but does not address Project 2025's specific Treasury objectives such as AML-CTF data transparency, repeal of the Corporate Transparency Act, elimination of DEI initiatives, or opposition to climate-related financial risk offices."

Key themes:Department of the Treasuryfinancial oversighthuman rights accountability

— 707 — Department of the Treasury There were 2 .7 million suspicious activity reports (SARs) filed in 2021.60 The number of CTRs filed were approximately 10 times that number.61 In 2014, FinCEN anti-money laundering/countering the financing of terrorism (AML-CFT) rules cost an estimated $5 billion to $8 billion per year.62 Undoubtedly, this cost is now substantially higher both because of inflation and because the rules have become more onerous.63 Yet there is little evidence that this massive expenditure of resources is doing much good,64 and there is no evidence regarding which aspects of the AML-CFT regime are effective and which are not. The AML-CFT regime is a major contributing factor causing the decline in the number of small broker-deal- ers and the decline in the competitiveness of community banks. Congress must require FinCEN to annually publish data regarding: l The number of SARs filed; l The number of CTRs filed;65 l The number of AML-CFT prosecutions, disaggregating those in which the AML-CFT prosecution is stand-alone and in which the prosecution is an add-on count connected to other predicate crime;66 l The number of AML-CFT convictions (similarly disaggregated); l The number and aggregate amount of AML-CFT fines imposed and the type of institution upon which the fine was imposed; and l Annual estimates of the aggregate costs imposed on private entities by the AML-CFT regime.67 Without this data, it is impossible for policymakers to make an informed judg- ment about the effectiveness of the AML-CFT regime. Congress should also require both FinCEN and the Government Accountability Office to undertake separate evaluations regarding which aspects of the AML-CFT regime are effective and which are not. FinCEN should be required to undertake a thorough retrospec- tive review of its regulations and various statutory requirements and report to Congress on its findings in a publicly available report. Anecdotes and assurances from FinCEN staff that all is well—but that even more onerous requirements are needed—are not enough. Congress should repeal the Corporate Transparency Act, and FinCEN should withdraw its poorly written and overbroad beneficial ownership reporting rule. Both are targeted at the smallest businesses in the U.S. (those with 20 or fewer employees) and will do nothing material to impede criminal finance.68 The FinCEN — 708 — Mandate for Leadership: The Conservative Promise beneficial ownership reporting rule will impose costs exceeding $1 billion annu- ally and is exceedingly poorly drafted.69 FinCEN itself estimates that more than 33 million businesses will be affected and that costs will be $547 million to $8.1 billion annually.70 THE “EQUITY” AGENDA Under the Biden Administration, the Treasury Department has appointed a Counselor for Racial Equity, established an Advisory Committee on Racial Equity, and created an office for Diversity, Equity, Inclusion, and Accessibility. All these should be eliminated. Treasury has created several new offices to promote “equity” and has made this its first of five strategic goals in its Fiscal Year 2022–2226 Strategic Plan. “Equity” is identified as a cross-cutting theme in 15 of 19 of the plan’s objectives. The avowed purpose of these initiatives is to implement policies that delib- erately favor some races or ethnicities over others. The casual acceptance and rapid spread of racist policymaking in the federal government must be forcefully opposed and reversed. The next conservative Administration should take affirma- tive steps to expose and eradicate the practice of critical race theory and diversity, equity, and inclusion (DEI) throughout the Treasury Department. These steps will include: l Identify every Treasury official who participated in DEI initiatives and interview him or her for the purpose of determining the scope and nature of these initiatives and to ensure that such initiatives are completely ended. l Make public immediately all communications relating to the work of the Treasury’s critical race theory and DEI initiatives. l Treat the participation in any critical race theory or DEI initiative, without objecting on constitutional or moral grounds, as per se grounds for termination of employment. l Expose and make public all training materials and initiatives designed to single out any race, ethnicity, or sex for special treatment. The Administration should eliminate the 25-member Treasury Advisory Com- mittee on Racial Equity. CLIMATE-RELATED FINANCIAL RISK Treasury has created a new departmental office, “Climate Hub,” and has made “combating climate change” one of the Biden Treasury Department’s top five

Department of the Treasury

Weak

Vector: 65%

Pages: 733-735AI Enhanced

AI Analysis:

"The bill focuses on Treasury appropriations, cybersecurity funding, and human rights reporting, while Project 2025 emphasizes reducing IRS reporting burdens, withdrawing from international financial institutions, closing the Office of Equity, Diversity, and Inclusion, and reforming tax policy—areas not addressed or contradicted by the bill's provisions."

Key themes:Department of the Treasuryinternational affairsfinancial oversight

— 701 — Department of the Treasury administers these reporting programs, most of this expense is mandated by Con- gress, not the IRS. One of the primary reasons that Congress mandates ever-increasing infor- mation reporting is that the Treasury Department and the Joint Committee on Taxation staff almost always overestimate how much revenue will be gained from still more burdensome information reporting, and they do not estimate or report private compliance costs. Congress and the Treasury Department must undertake a serious review of the information reporting regime and reduce the burden on the public—especially small businesses. Small businesses suffer disproportionately from complexity and administrative burdens. Costs do not increase linearly with size, so elevated administrative costs have an adverse effect on the competitiveness of small firms. Budget. The operating budget of the IRS should be held constant in real terms. The resources allocated to the Office of the Taxpayer Advocate should be increased by at least 20 percent (about $44 million). The Office of Equity, Diversity, and Inclusion should be closed. Provided that IT management is changed; an effective, well-considered implementation plan is adopted; and serious oversight is put in place, additional resources dedicated solely to IT modernization may be warranted. INTERNATIONAL AFFAIRS The Treasury Department should withdraw from Senate consideration the Protocol Amending the Convention on Mutual Administrative Assistance in Tax Matters.48 The protocol will lead to substantially more transnational identity theft, crime, industrial espionage, financial fraud, and suppression of political oppo- nents and religious or ethnic minorities by authoritarian and corrupt governments, including China, Colombia, Nigeria, and Russia. Unlike the original multilateral convention, the amended convention is open to all governments—including many that are either hostile to the United States, have serious corruption problems, or have inadequate privacy protections. The new Administration should also oppose the multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information.49 International organizations such as the OECD, the World Bank, and the Inter- national Monetary Fund espouse economic theories and policies that are inimical to American free market and limited government principles. The global elites who operate the IMF regularly advance higher taxes and big centralized government. The IMF has intervened in American policy debates—and has even recommended that the U.S. raise taxes. The IMF’s record of advancing global financial stability has been mixed at best. Its development assistance and lending programs in third- world countries have more often than not retarded growth rather than advancing it. The Treasury Department plays an important role in these international institutions and should force reforms and new policies. The U.S., however, should — 702 — Mandate for Leadership: The Conservative Promise withdraw from both the World Bank and the IMF and terminate its financial con- tribution to both institutions. If the U.S. is to provide economic assistance or humanitarian aid to other nations, it should do so unilaterally—not through the pass-throughs of international aid orga- nizations, non-governmental organizations, or other nations. These organizations and countries simply create expensive middle-men, while U.S. funds are intercepted before being distributed to those in need. Also, these foreign entities have interests that do not coincide with American national security and economic interests. FISCAL RESPONSIBILITY Treasury should make balancing the federal budget a mission-critical objective. The federal budget absorbs enormous resources from the economy, both in money taken from taxpayers and in money borrowed. The budget should be balanced by driving down federal spending while maintaining a strong national defense and not raising taxes. To reduce interest payments on the debt, Treasury should lock in current rel- atively low interest rates by issuing longer duration bonds, and even consider creating a 50-year treasury bill. Most of the federal debt rolls over on average about every three to four years. But interest rates, even with the latest Federal Reserve rate increases, are still below the 5 percent historical average. Treasury would thus save taxpayers money during the next several decades by issuing fewer short-term notes that will probably have to be rolled over at higher rates in the future. To promote transparency of finances, each year Americans should receive a financial statement of the U.S. government alerting citizens of the revenues, expen- ditures, deficit, and debt for the preceding fiscal year. The statement should also include this individual family’s pro-rata share of the debt based on family size. INTERNATIONAL COMPETITIVENESS The Treasury must act more assertively in international financial institutions to protect and advance U.S. national interests—and oppose those that do not. It should employ a carrot-and-stick approach by increasing its activity and commitment to those financial institutions that are willing and able to adjust to this new approach and by zeroing out or potentially exiting those institutions that rely on U.S. capital while advancing agendas that run counter to U.S. interests. l A major emphasis of effecting this change must be the addition of a large new cadre of U.S. professionals and contractors at these international financial institutions. l The U.S. must insist on the hiring and support of this human capital as a condition to future funding.

Showing 3 of 5 policy matches

About These Correlations

Policy matches are calculated using a hybrid approach: initial candidates are found using semantic similarity between bill summaries and Project 2025 policy text, then an AI model (Llama 3.1 70B) provides detailed alignment ratings and analysis. Ratings range from 1 (minimal alignment) to 5 (very strong alignment). This analysis does not imply direct causation or intent.

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